Showing 5563 Documents for "MAS"
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- Media Releases
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- These grants will not draw on MAS’ past reserves. 4 The Bretton Woods Agreements Act (BWAA) which was amended by Parliament to enable MAS to make grants to the IMF, came into effect on 7 October 2016 2 .
- Singapore, 2 November 2016…The Monetary Authority of Singapore (MAS) today announced that Singapore intends to join in the multilateral effort to enhance the capacity of the International Monetary Fund (IMF) to assist low-income countries. 2 Singapore will participate by making grants to the IMF’s
- of qualifying low-income countries. 2 An explanatory brief detailing the amendments to the Bretton Woods Agreements Act (BWAA) was published on MAS’ website /news/speeches/2016/bretton-woods-agreements-bill-2016 ***
- MAS
- Media Releases
Last revised date:
- The Monetary Authority of Singapore (MAS) has imposed an additional capital requirement, of approximately S$330 million, on OCBC Bank (OCBC), given deficiencies in the bank’s response to a wave of spoofed SMS phishing scams in December 2021.
- The deficiencies identified are in line with MAS’ assessment and the bank is in the process of addressing them. 3.
- MAS is working closely with the industry and other agencies to further strengthen our collective defences against scams.” *****
- MAS
- Media Releases
Last revised date:
- Singapore, 9 February 2020… Following the raising of the Disease Outbreak Response System Condition (DORSCON) Alert Level from Yellow to Orange, the Monetary Authority of Singapore (MAS) issued an advisory on 7 February 2020 for financial institutions in Singapore to adopt additional measures and precautions
- attacks. 4 MAS has been informed about scammers impersonating MOH contact tracing officials and requesting for financial information from individuals.
- This is the third advisory to financial institutions since January 2020. 2 MAS’ advisory of 7 February 2020 called on financial institutions to adopt the additional recommended measures by the Ministry of Health (MOH) and the Ministry of Manpower, whilst ensuring the following when carrying out their
- MAS
- Letters to Editor
Last revised date:
- MAS will be informed should breaches of the Code result in a BNPL provider losing its trustmark. 6. MAS will closely monitor compliance against the Code. We will consider stronger regulation if necessary. Dawn Chew Director (Corporate Communications) Monetary Authority of Singapore
- Relying on an industry-led Code that is consistent with MAS’ expectations is a good way to foster compliance.
- The Monetary Authority of Singapore (MAS) shares Mr Cher’s concern that BNPL schemes could lead to excessive consumer borrowing. This is why we have worked with the BNPL industry to codify a set of explicit requirements to safeguard consumers against such risks.
- MAS
- Economic Essays
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- (2020), UN Comtrade and EPG, MAS estimates Source: Boz et al.
- Source: EPG, MAS estimates Note: Figures may not sum to 100% due to rounding.
- Chart 5 S$/Ringgit exchange rate and Singapores IPI for eggs (scaled by Malaysias CPI for eggs) Chart 6 Change in S$NEER against change in Singapore food prices (IPI-adjusted) Source: DOS, Haver Analytics and EPG, MAS estimates Source: EPG, MAS estimates Note: Singapores food prices
- MAS
- Speeches
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- And you have there again been the leader at the MAS in sustainable finance in ESG – environment, social and governance – and you have put out a Green Finance Action Plan. Talk to us about how the MAS is advancing these kinds of goals.
- MAS is working closely with the financial industry to support workers to reskill and take on new jobs that are emerging as a result of digitalisation.
- This was developed by the ASEAN Financial Innovation Network – ASEAN is a grouping of 10 Southeast Asian countries – supported by the MAS and the International Financial Cooperation (IFC).
- MAS
- Speeches
Last revised date:
- Firstly, to make it more efficient for MAS to process and analyse the data collected.
- MAS will engage the industry to come up with meaningful guidance on these issues in the coming weeks.
- In this regard, MAS is reviewing our Technology Risk Management Guidelines to provide more guidance on cyber security operations, surveillance, assessment and exercises.
- MAS
- Speeches
Last revised date:
- MAS will also review the need to further tighten the definition of independence by requiring the Nominating Committee to consider the length of service on the Board as an additional criterion in determining the independence of a director. 25 With regards to remuneration practices, MAS has done an initial
- As the core issue is the holistic management of risks across the institution, MAS will, in our implementation of these Principles, incorporate these into the Corporate Governance Framework.
- JY Pillay. 4 In the last two years, following the transfer of oversight of corporate governance of listed companies to MAS and the Singapore Exchange, we have focused on strengthening the practices of corporate governance in Singapore.
- MAS
- Speeches
Last revised date:
- The MAS and the IBF will be your key partners in this journey.
- Authority of Singapore (MAS) and the IBF have put in place to raise the overall competency of the financial industry.
- Currently administered by the MAS, the FTS incentivises continual development of the financial sector workforce in niche and growing areas that may not necessarily lead towards certification under the FICS.
- MAS
- Speeches
Last revised date:
- Ensuring appropriateness of premium rates 13 In December 2005, MAS removed the requirement for insurers to seek approval from MAS before launching any product, other than those with features that are new to the insurer.
- In August this year, we also removed the requirement for insurers to seek MAS’ prior approval for ILP sub-funds.
- To strengthen their independence, the appointment of external auditors and Appointed Actuaries are protected under statutes and their appointments have to be approved by the MAS.