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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, 17 July 2019… The Monetary Authority of Singapore (MAS) and the Central Bank of Kenya (CBK) have inked a FinTech Cooperation Agreement to support digital infrastructure development in Kenya.
- 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
- Speeches
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- To enhance transparency, we plan to publish more information about MAS' risk-based supervisory approach.
- So with regard to Pillar 3 of Basel II on disclosures, instead of MAS proposing the requirements and then consulting the industry on these, we now have a working group comprising representatives from the locally incorporated banks to collectively propose to MAS a common disclosure approach that meets
- Not only can we do so, but we must do so, if we are to stay ahead. 15 To meet immediate needs, MAS launched the Finance Preparatory Programme earlier this month.
- MAS
- Speeches
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- As you may be aware, MAS has recently enhanced its training support for the industry.
- This is a concern to MAS because motor insurance is the largest business line for the Singapore general insurance industry.
- MAS is considering requiring general insurers to also carry out regular stress testing exercises as part of their risk management processes.
- MAS
- Macroeconomic Reviews
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- MAS ED Quarterly Bulletin, October 2001 i Economics Department -------- MAS ED Quarterly Bulletin, October 2001 Contents Overview Macroeconomic Developments 1.1 External Developments 1.2 Domestic Output Box Item 1.1: Identifying an Economic Recession 1.3 Aggregate Demand Box Item
- This will be the last issue of the MAS Economics Department Quarterly Bulletin. In 2002, the Bulletin will be published twice a year to coincide with the release of the MAS Monetary Policy Statement in January and July. two decades.
- The MAS underlying inflation, which excludes accommodation and private road transport prices, was negative in 1985.
- MAS
- Enforcement Actions
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- Under the MAS Act, MAS can compound breaches of AML requirements for a sum of up to S$500,000 per breach. In addition to the composition of the AML breaches, MAS also withdrew BSI Bank’s status as a merchant bank in Singapore. *****
- Joint Statement by Attorney-General’s Chambers, Singapore (AGC) Commercial Affairs Department, Singapore Police Force (CAD) Monetary Authority of Singapore (MAS) Singapore, 23 October 2020...The Attorney-General’s Chambers, Singapore (AGC), Commercial Affairs Department, Singapore Police Force (CAD)
- and Monetary Authority of Singapore (MAS) pointed out today that the US$122 million to be paid by Goldman Sachs Singapore Pte (GSSP) to the Singapore Government has been incorrectly reported by several media as a ‘fine’ and as being on top of the US$2.9 billion to be paid by the Goldman Sachs Group Inc
- MAS
- Enforcement Actions
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- The Monetary Authority of Singapore (MAS) has imposed a composition penalty of S$1 million on Bank J. Safra Sarasin Ltd, Singapore Branch (BJS) for its failures to comply with MAS’ Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) requirements.
- The penalty amount took into consideration BJS’s remediation actions to address deficiencies that were identified by MAS. 2 Between March 2014 to September 2018, BJS committed serious breaches of MAS’ AML/CFT requirements.
- BJS to appoint an independent party to validate the effectiveness of the bank’s remediation measures and report the findings to MAS. 4 Ms Loo Siew Yee, Assistant Managing Director (Policy, Payments & Financial Crime), MAS, said: “Financial institutions engaging in private banking business must be
- MAS
- Media Releases
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- A copy of the public consultation paper is available on the MAS website . MAS welcomes members of the public to give their feedback on the proposed Notice.
- Singapore, 6 September 2018 …The Monetary Authority of Singapore (MAS) today issued for consultation proposed requirements for financial institutions (FIs) in Singapore to implement essential cyber security measures to protect their IT systems.
- MAS is proposing to stipulate these measures as a baseline hygiene standard for cyber security by elevating them into legally binding requirements. 4 Mr Tan Yeow Seng, Chief Cyber Security Officer, MAS, said, “The proposed Notice on Cyber Hygiene seeks to strengthen the overall readiness of all financial
- MAS
- Media Releases
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- Singapore, 3 November 2017… The Monetary Authority of Singapore (MAS) and the China Securities Regulatory Commission (CSRC) agreed to strengthen supervisory cooperation and facilitate the development of their capital markets, during the 2nd MAS-CSRC Supervisory Roundtable held in Singapore on 31 October
- This second edition builds on the success of the inaugural Roundtable which was held in Chongqing, China in April 2016. 3 The 2nd MAS-CSRC Supervisory Roundtable was co-chaired by MAS’ Deputy Managing Director Mr Ong Chong Tee and CSRC’s Vice Chairman Mr Fang Xinghai.
- During the Roundtable, MAS and CSRC discussed regulatory developments in the derivatives markets and their respective frameworks for supervising fund managers.
- MAS
- Media Releases
Last revised date:
- Under the MAS Act, MAS can compound breaches of AML requirements for a sum of up to S$500,000 per breach. In addition to the composition of the AML breaches, MAS also withdrew BSI Bank’s status as a merchant bank in Singapore. *****
- Joint Statement by Attorney-General’s Chambers, Singapore (AGC) Commercial Affairs Department, Singapore Police Force (CAD) Monetary Authority of Singapore (MAS) Singapore, 23 October 2020...The Attorney-General’s Chambers, Singapore (AGC), Commercial Affairs Department, Singapore Police Force (CAD)
- and Monetary Authority of Singapore (MAS) pointed out today that the US$122 million to be paid by Goldman Sachs Singapore Pte (GSSP) to the Singapore Government has been incorrectly reported by several media as a ‘fine’ and as being on top of the US$2.9 billion to be paid by the Goldman Sachs Group Inc
- MAS
- Media Releases
Last revised date:
- Singapore, 7 June 2018… IFC, a member of the World Bank Group, and the Monetary Authority of Singapore (MAS) today signed a Memorandum of Understanding (MOU), agreeing to work together to accelerate the growth of green bond markets in Asia.
- The MOU marks the start of a closer collaboration between MAS and IFC to jointly advance the green finance agenda. 2 Under the MOU, IFC and MAS will encourage green bond issuances by financial institutions (FIs) in Asia in two ways: enhance the awareness and knowledge of professionals working in
- Ng Yao Loong, Assistant Managing Director, Development & International Group, MAS, said, “Green bonds are gaining traction in Asia. The region now contributes about a quarter of global green bond issuances annually. MAS is pleased to partner IFC to help promote Asia’s green bond journey.