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- MAS
- Media Releases
Last revised date:
- More details can be found on MAS Website . ***
- Singapore, 16 March 2017…The Monetary Authority of Singapore (MAS) today published a consultation paper to seek public feedback on the proposed new legal tender limit for coins. 2 Under the Currency Act, limits are placed on the amount of each coin denomination that can be used for payment.
- These limits help minimise the payee’s inconvenience and cost in handling large quantities of low denomination currency. 3 MAS is proposing a uniform legal tender limit of 10 coins per denomination across all denominations in a single transaction.
- MAS
- Media Releases
Last revised date:
- The Monetary Authority of Singapore (MAS) announced that Mr Lim Chee Onn, Senior International Advisor to Singbridge Private Limited, and Mr Peter Ong, Permanent Secretary of the Ministry of Finance, have been reappointed to its Board of Directors from 1 January 2014 to 31 May 2016. 2 The members of
- the MAS Board of Directors are listed in the Annex. *** Annex Board of Directors of the Monetary Authority of Singapore (as of 31 December 2013) Mr Tharman Shanmugaratnam (Chairman) Deputy Prime Minister; Minister for Finance Mr Lim Hng Kiang (Deputy Chairman) Minister for Trade and Industry Mr Heng
- Quek See Tiat Chairman, Building and Construction Authority Mr Lim Chee Onn Senior International Advisor, Singbridge Private Limited Mr Peter Ong Boon Kwee Permanent Secretary, Ministry of Finance Professor Tan Chorh Chuan President, National University of Singapore Mr Ravi Menon Managing Director, MAS
- MAS
- Media Releases
Last revised date:
- . 2 MAS has been in close discussion with SGX on enhancing the governance of SGX’s regulatory responsibilities.
- Singapore, 18 July 2016…The Monetary Authority of Singapore (MAS) said today that SGX’s move to transfer its regulatory functions to a separate subsidiary company is an important step in strengthening the safeguards to manage potential conflicts of interest between SGX’s commercial and regulatory roles
- MAS will therefore require the Chairman of the subsidiary company and a majority of its directors to be independent of SGX and its regulated subsidiaries 1 , and for all directors to be independent of any corporation listed on SGX. 4 MAS will continue to directly regulate SGX in terms of its obligations
- MAS
- Letters to Editor
Last revised date:
- The Singapore Exchange Limited (SGX), the CAD and the Monetary Authority of Singapore (MAS) work closely together to ensure a fair, clean and orderly capital market in Singapore.
- The CAD, MAS and SGX are committed to resolving the case of China Sky expeditiously. SUPT Ho Yenn Dar Assistant Director, Public Communications Public Affairs Department Singapore Police Force Bey Mui Leng Director (Communications) Monetary Authority of Singapore
- 16 July 2014 The Editor BT Forum Dear Editor Joint Response by MAS & CAD on Letter published in BT regarding China Sky We refer to Mr Mano Sabnani’s letter “Time to end China Sky saga” (Business Times, 3 July 2014).
- MAS
- Circulars
Last revised date:
- UPDATE TO MAS NOTICE 133 WITH RESPECT TO ILLIQUIDITY PREMIUM (IP) MAS Notice 133 (Notice 133) on Valuation and Capital Framework for Insurers has been updated on 19 December 2022 to reflect the revision in IP from 75 bps to 65 bps in Appendix 3G.
- accessed note and 133 on be 3 Please contact your companys liaison officer in MAS should you have any queries.
- The update is part of the regular review that MAS performs on the IP calibration and credit 2 spread movements. This revision will take place with effect from 31 December 2022. The updated Notice the MAS website can amendment (https://www.mas.gov.sg/regulation/notices/notice-133).
- MAS
- Letters to Editor
Last revised date:
- The Monetary Authority of Singapore (MAS) has been in contact with Mr Lee on his feedback. Remittance companies are currently licensed under the Money-changing and Remittance Businesses Act (MCRBA).
- Jerome Lee (Mr) Director (Corporate Communications) Monetary Authority of Singapore
- In the past year, MAS has been alerted to a remittance licensee offering consumer loans. It is not the intent of MAS to allow remittance licensees to conduct consumer lending. If licensees wish to do more, they must hold the appropriate licence and be subject to the relevant regulatory measures.
- MAS
- Media Releases
Last revised date:
- MAS will work with relevant stakeholders to proactively address any impact on employment. *****
- Singapore, 12 June 2023… The Monetary Authority of Singapore (MAS) said today that the day-to-day operations of the Singapore entities of UBS Group AG (UBS) and Credit Suisse Group AG (CS) will not be interrupted by the legal completion of the takeover. 2.
- MAS remains in close contact with the Swiss Financial Market Supervisory Authority (FINMA) Parent supervisory authority of Credit Suisse Group AG and UBS Group AG. , CS and UBS on the integration.
- MAS
- Speeches
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- For example, in 2005, the MAS announced that banks in Singapore will be able to offer Murabaha financing in Singapore.
- To this end, MAS work with the industry to constantly review our tax and regulatory framework to ensure a level playing field between Islamic and conventional financing.
- While understanding that there exist different interpretations of Shar'iah products in the industry, MAS will prefer to leave it to the internal Shar'iah boards of the various banks to make this decision.
- MAS
- Media Releases
Last revised date:
- Singapore, 1 April 2014… The Monetary Authority of Singapore (MAS) commenced civil penalty court action against Mr Norman Phua Chun Han and has been awarded a default judgment of $2,965,414.75 against Mr Phua, comprising a civil penalty amount of $2,865,414.75, for insider trading under Section 218(2
- (iii) Notwithstanding the above, MAS may also enter into agreements with any person for that person to pay, with or without admission of liability, a civil penalty for a contravention of any provision of Part XII of the SFA.
- without court action. 5 The Attorney-General’s Chambers represented MAS in this action. *** Notes to Editor (A) The civil penalty regime (i) A civil penalty action is not a criminal action and does not attract criminal sanctions.
- MAS
- Monetary Policy Statements
Last revised date:
- The MAS underlying inflation measure was stronger at 1.0% in the first two months of this year.
- MAS intervened significantly in Q4 2004 and into early 2005 to moderate excessive upward pressure on the S$.
- MAS assessed this policy stance to be supportive of economic growth, while ensuring low and stable inflation over the medium term.