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- The Monetary Authority of Singapore (MAS) today announced further measures to liberalise its S$ non-internationalisation policy.
- Speaking at the opening of the Euromoney Asia-Pacific Issuers and Investors Forum in Singapore today, Deputy Prime Minister & MAS Chairman Lee Hsien Loong announced that with effect from 20 March 2002, MAS would lift restrictions in a few key areas.
- MAS had hitherto treated such transactions as forms of S$ lending. This will no longer be the case. ii.
- MAS
- Media Releases
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- The rest of the staff will be redeployed to other functions in MAS.
- Taken together, the changes better integrate MAS' functions, and more closely align the organisation's resources and objectives.
- MAS will also work towards developing integrated supervisory methodologies across financial industries. Integrating BCCS as the Currency Department The Board of Commissioners of Currency, Singapore (BCCS) will be fully integrated with MAS as the Currency Department from 1 Oct 2002.
- MAS
- Media Releases
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- It will have strong security features to prevent unauthorised access to information, and will be operated by MAS. MAS will provide in legislation that this information sharing by FIs is permitted only for the purpose of combating ML, TF and PF.
- Singapore, 1 October 2021…The Monetary Authority of Singapore (MAS) announced today that it will introduce a digital platform and enabling regulatory framework for financial institutions (FIs) to share with one another relevant information on customers and transactions to prevent money laundering (ML
- MAS will use the information from COSMIC in its risk surveillance to detect illicit networks operating in the financial system and to target these activities for timely supervisory intervention. 6 MAS plans to launch the COSMIC platform in the first half of 2023.
- MAS
- Media Releases
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- It will have strong security features to prevent unauthorised access to information, and will be operated by MAS. MAS will provide in legislation that this information sharing by FIs is permitted only for the purpose of combating ML, TF and PF.
- Singapore, 1 October 2021…The Monetary Authority of Singapore (MAS) announced today that it will introduce a digital platform and enabling regulatory framework for financial institutions (FIs) to share with one another relevant information on customers and transactions to prevent money laundering (ML
- MAS will use the information from COSMIC in its risk surveillance to detect illicit networks operating in the financial system and to target these activities for timely supervisory intervention. 6 MAS plans to launch the COSMIC platform in the first half of 2023.
- MAS
- Media Releases
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- Singapore, 13 September 2018… The US Commodity Futures Trading Commission (CFTC) and the Monetary Authority of Singapore (MAS) today signed an arrangement to foster greater cooperation in FinTech.
- I am also delighted that CFTC will participate in the Singapore FinTech Festival 2018, and contribute to the discussions on applied technologies in capital markets.” *** About the Monetary Authority of Singapore As Singapore’s central bank, the Monetary Authority of Singapore (MAS) promotes sustained
- Ravi Menon, Managing Director, MAS, said, “The CFTC is a highly reputed and progressive regulator, with whom MAS has had a close working relationship. This arrangement is a significant step forward in our joint commitment to grow the FinTech landscape.
- MAS
- Media Releases
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- It also facilitates the exchange of information for supervisory purposes between the two authorities. *** About the Monetary Authority of Singapore The Monetary Authority of Singapore (MAS) is Singapore’s central bank and integrated financial regulator.
- Dubai, UAE, 29 August, 2018… The Monetary Authority of Singapore (MAS) and the Dubai Financial Services Authority (DFSA) have signed a FinTech Agreement that allows referrals of innovative businesses between the two authorities.
- Cooperation between MAS and the DFSA will help create synergies and greater understanding between our two markets and will enable FinTech firms to extend their reach globally.” 4 Mr Sopnendu Mohanty, Chief FinTech Officer at MAS, said, “The rising FinTech boom in the Middle East creates new opportunities
- MAS
- Media Releases
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- .” *** About the Monetary Authority of Singapore The Monetary Authority of Singapore (MAS) is Singapore’s central bank and integrated financial regulator.
- Singapore, 16 November 2017… The Bangko Sentral ng Pilipinas (BSP) and the Monetary Authority of Singapore (MAS) today signed a FinTech Co-operation Agreement (CA) to promote innovation in financial services in their respective markets.
- This would ultimately pave the way for a more progressive, modern and inclusive financial system.” 4 Mr Ravi Menon, Managing Director, MAS, said, “MAS and the BSP are like-minded in their focus on harnessing financial technology to reduce inefficiency and benefit individuals and businesses.
- MAS
- Parliamentary Replies
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- MAS.
- Answer by Mr Tharman Shanmugaratnam, Deputy Prime Minister and Minister in charge of MAS: 1 The Monetary Authority of Singapore (MAS) has in place strict anti-money laundering and countering the financing of terrorism (AML/CFT) rules for the financial sector.
- MAS will take regulatory actions against those financial institutions whose AML/CFT practices fall short of the expected standards.
- MAS
- Circulars
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- Yours faithfully LOW KWOK MUN EXECUTIVE DIRECTOR PRUDENTIAL POLICY DEPARTMENT PRUDENTIAL SUPERVISION GROUP -------- 1 MAS' Notices on Housing Loans refer to: MAS Notice 632 on Housing Loans issued to Banks, MAS Notice 1106 on Housing Loans issued to Merchant Banks, MAS Notice 825 on Housing
- Loans issued to Finance Companies, and MAS Notice 115 on Housing Loans issued to Direct Insurers. 2 The maximum amount of financing is the "relevant amount" referred to in MAS' Notices on Housing Loans.
- Informs financial institutions that cash rebates offered for housing loans are not permitted under MAS’ housing loan rules. Circular No.
- MAS
- Media Releases
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- Applications should reach MAS by 31 August 2001. Enhancing Competition in Retail Banking In the first package of measures in 1999, MAS permitted 4 Qualifying Full Banks (QFBs) to establish up to 10 locations, of which 5 can be branches.
- 29 Jun 2001...The Monetary Authority of Singapore announced today the second phase of its banking liberalisation programme.
- In 1999, MAS committed to issuing 6 QFB licences. 4 were granted in October 1999. We will take applications for the remaining 2 this year. Applications for QFB privileges open on 30 June 2001. Applications should reach MAS by 31 August 2001.