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- Speeches
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- Speech by DPM Lee Hsien Loong at the 25th Anniversary Dinner of the Association of Banks in Singapore Date: 8 Jun 1998 INTRODUCTION 1 I am happy to celebrate with you ABS' 25 th anniversary. Your growth as an industry association has mirrored Singapore's emergence as an international financial centre. Over the last 25 years, total assets in the domestic banking units have grown on average by 15% per annum, faster than nominal GDP. The offshore banking sector has expanded even more spectacularly
- MAS
- Speeches
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- I’d like to thank the Asia Society for hosting us this evening, for the launch of the Singapore FinTech Festival. The Festival will take place over 5 days in November this year in Singapore, bringing together technology players, financial institutions, FinTech players and regulators. We are launching the festival in New York City, and that is not as surprising as it may first seem. It says something about how we view innovation in finance. It is an inherently open system. Innovation is about ideas
- MAS
- Guidelines
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- Sets out the specific operational safeguards that insurers should put in place for effective and consistent implementation of the fund concept. These guidelines apply to all licensed insurers, except captive insurers, marine mutual insurers and financial guarantee insurers. They set out the specific operational safeguards that are necessary for the establishment of the insurance funds and the segregation of the assets of licensed insurers in Singapore ("the fund concept") as required under the Insurance
- MAS
- Letters to Editor
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- Dear Editor, We thank Mr Young Pak Nang and Mr Chwa Poh Kew for their letters (“How can customers be accountable for OTP fraud” and “Bank kept asking me to pay for OTP fraud transactions”, ST, 17 September 2021). As noted by Mr Young, consumers routinely provide their credit card details to merchants for online and point-of-sale payments. If these credit card details are compromised by a third party, such as the merchant’s database being breached, consumers will not be considered to have failed to
- MAS
- Speeches
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- Mr. Manfred Wiebogen, ACI Global President Distinguished guests, ladies and gentlemen 1 I am delighted to be here today with all of you. 2 The last time Singapore hosted the ACI Congress was back in 2001. In fact, it was just before 9/11. The world was in a very different place. Asia too was so different from today. The wounds of the Asian crisis of the late 90s were still fresh. Investor confidence in the various countries in the region was uneven. And Asian capital markets were by and large
- MAS
- Media Releases
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- Singapore, 3 April 2020… The Monetary Authority of Singapore (MAS) affirmed that financial services will remain open and available to all customers and counterparties in Singapore and globally. All financial markets in Singapore remain open, and payment services are unaffected. Financial services is one of the essential services exempted from the suspension of activities at workplace premises under the elevated safe distancing measures announced by the Ministry of Health (MOH) today. 2. All financial
- MAS
- Parliamentary Replies
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- QUESTION NO 3742 NOTICE PAPER 1494 OF 2022 FOR WRITTEN ANSWER Date: For Parliament Sitting on 8 November 2022 Name and Constituency of Member of Parliament Mr Melvin Yong Yik Chye, MP, Radin Mas SMC Question: To ask the Prime Minister (a) whether MAS has data on how prevalent is the use of Buy Now Pay Later (BNPL) services among those aged below 21 years old in the past three years; and (b) whether there have been cases thus far of such youths being unable to repay their debts incurred via BNPL services
- MAS
- Consultations
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- Response VIEW DOCUMENT Response to Feedback on Consultation Paper on Securitisation (127.5 KB) Consultation Paper VIEW DOCUMENT Consultation Paper on Securitisation (108.8 KB) RESPONSE TO FEEDBACK RECEIVED - CONSULTATION PAPER ON SECURITISATION 1 General Comments 1.1 In April 2005, MAS issued a consultation paper inviting views on proposed changes to MAS Notice to Banks 628 on "Asset Securitisation by Banks". The proposed revisions seek to bridge the gap between the existing requirements
- MAS
- Parliamentary Replies
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- QUESTION NO 1051 NOTICE PAPER 650 OF 2021 FOR WRITTEN ANSWER Date: For Parliament Sitting on 13 September 2021 Name and Constituency of Member of Parliament Mr Don Wee, MP, Chua Chu Kang GRC Question: To ask the Prime Minister whether MAS has any plan to increase measures for licensed payment institutions that issue credit/debit cards to Singaporeans younger than 16 years of age as there is a risk of children utilising the card details to shop for unsavoury items or subscribe to dubious websites.
- MAS
- Media Releases
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- Singapore, 1 April 2020... In response to media queries about the implications of the COVID-19 (Temporary Measures) Bill on the financial sector, the Monetary Authority of Singapore (MAS) said that the proposed Bill will provide needed temporary protection for SMEs while being carefully scoped to avoid impairing the interests of banks and Singapore’s role in international financial transactions. 2 The proposed Bill covers only SME loans with specific security located in Singapore, namely commercial