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- with the Monetary Authority of Singapore (?MAS?). The merged entity would still be called MAS. This is an organisational change to streamline our institutional structure. There will be no change in the way currency is managed.
- MAS will become a full-fledged central bank. 7 This Bill seeks legislative amendments to the Currency Act to effect the merger of MAS and BCCS.
- Conclusion 15 The proposed amendments in this Bill are part of the legislative amendments required to implement the merger of BCCS with MAS. The proposed transfer of past reserves from BCCS to MAS as past reserves would require amendments to the Constitution.
- MAS
- Enforcement Actions
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- First civil penalty enforcement action for failure to disclose shareholding interests Singapore, 17 January 2020… The Monetary Authority of Singapore (MAS) has imposed a civil penalty of $200,000 on Mr Lim Soon Fang for not disclosing changes in, and providing false information regarding his shareholding
- & Financial Crime), MAS, said, “It is important for substantial shareholders to make timely and accurate disclosure of their interests in listed companies.
- MAS may, with the consent of the Public Prosecutor, bring an action in a court against the person to seek an order for a civil penalty in respect of that act.
- MAS
- Media Releases
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- Mohanty, Chief FinTech Officer, MAS, said, “MAS is encouraged by the strong support from the industry and regulators for the AFIN industry sandbox.
- Singapore, November 16, 2017—IFC, a member of the World Bank Group, the Monetary Authority of Singapore (MAS) and the ASEAN Bankers Association (ABA), today introduced, an industry FinTech sandbox for financial institutions and FinTech firms as part of the ASEAN Financial Innovation Network (AFIN), at
- Stay Connected www.ifc.org/eastasia www.twitter.com/IFC_EAP www.facebook.com/IFCwbg www.youtube.com/IFCvideocasts www.ifc.org/SocialMediaIndex About Monetary Authority of Singapore As Singapore’s central bank, the Monetary Authority of Singapore promotes sustained, non-inflationary economic growth through
- MAS
- Media Releases
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- MAS thanks PwC and Plug and Play for their strong support to the event. 4 Mr Sopnendu Mohanty, Chief FinTech Officer of MAS, said, “The Hackcelerator is a key component of the Singapore FinTech Festival.
- Singapore, 15 November 2016… The Monetary Authority of Singapore (MAS) today announced that three FinTech companies will receive a cash prize of S$50,000 each for the technology solutions they presented at the Global FinTech Hackcelerator Demo Day.
- .” *** About the Monetary Authority of Singapore As Singapore’s central bank, the Monetary Authority of Singapore promotes sustained, non-inflationary economic growth through appropriate monetary policy formulation and close macroeconomic surveillance of emerging trends and potential vulnerabilities.
- MAS
- Enforcement Actions Media Releases
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- First civil penalty enforcement action for failure to disclose shareholding interests Singapore, 17 January 2020… The Monetary Authority of Singapore (MAS) has imposed a civil penalty of $200,000 on Mr Lim Soon Fang for not disclosing changes in, and providing false information regarding his shareholding
- & Financial Crime), MAS, said, “It is important for substantial shareholders to make timely and accurate disclosure of their interests in listed companies.
- MAS may, with the consent of the Public Prosecutor, bring an action in a court against the person to seek an order for a civil penalty in respect of that act.
- MAS
- Media Releases
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- Authority of Singapore ("MAS").
- Savings Bonds transferred or pledged without MAS' prior approval may be redeemed by MAS from the transferee or pledgee.
- Singapore, 1 February 2017…The Monetary Authority of Singapore (MAS) today announced that the Singapore Savings Bond (SSB) programme has exceeded S$1 billion in outstanding amount with more than 37,000 investors.
- MAS
- Parliamentary Replies
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- When banks fall short of MAS’ expectations, they are required to identify the root cause of such lapses and take effective remedial actions. 5.
- MAS will continue to work closely with the industry to ensure the resilience of banks’ IT infrastructure to maintain stability and trust in the banking system. * * *
- MAS requires banks to make every effort to ensure that customers have a high degree of access to their digital banking services and to maintain business continuity when systems malfunction.
- 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.
- Nairobi/Singapore, 7 May 2019… The Central Bank of Kenya (CBK) and the Monetary Authority of Singapore (MAS) today announced the inaugural Afro-Asia FinTech Festival, to be held in Nairobi, Kenya, from 15 to 16 July 2019.
- The Festival is organised by the Monetary Authority of Singapore (MAS) in partnership with The Association of Banks in Singapore and in collaboration with SingEx Holdings. Find out more at http://fintechfestival.sg .
- MAS
- Media Releases
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- Singapore, 23 December 2009 - The Monetary Authority of Singapore (MAS) announced today that it is reviewing two sets of measures to strengthen the protection of insurance policy owners.
- The second set of measures seeks to enhance MAS’ powers relating to the resolution of insurers in Singapore.
- Insurance Resolution 5 In conjunction with the review of the PPF schemes, MAS also intends to enhance our powers relating to the resolution of insurers. This will strengthen MAS’ ability to secure continuity in insurance coverage, particularly for life policies.
- MAS
- Media Releases
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- Wirecard entities in Singapore are not currently licensed by MAS.
- Singapore, 30 September 2020… The Monetary Authority of Singapore (MAS) announced today that it has directed Wirecard entities in Singapore (Wirecard SG) to cease their payment services in Singapore and to return all customers’ funds by 14 October 2020. 2 MAS has been monitoring the impact of Wirecard
- MAS has closely engaged Wirecard SG in recent months to safeguard the interest of Wirecard SG’s customers.