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- MAS
- Economic Essays
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- This study was published as Special Feature A in the April 2019 Macroeconomic Review. 2 Macroeconomic Review, April 2019 Special Feature A Digital Currency Economics And Policy Workshop1 I think that the Internet is going to be one of the major forces for reducing the role of government. The one thing thats missing, but that will soon be developed, is a reliable e-cash, a method whereby on the Internet you can transfer funds from A to B, without A knowing B or B knowing A. The way
- MAS
- Media Releases
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- Singapore, 15 September 2022… Mr Lawrence Wong, Deputy Prime Minister and Minster for Finance, and Monetary Authority of Singapore (MAS) Deputy Chairman, launched the Financial Services Industry Transformation Map (ITM) 2025 today. The ITM 2025 lays out the growth strategies to further develop Singapore as a leading international financial centre in Asia – to connect global markets, support Asia’s development, and serve Singapore’s economy. 2. MAS projects the financial sector to grow by an average
- MAS
- Speeches
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- Introduction 1. Good morning, good afternoon and good evening – depending on where you may be attending this global event from. I congratulate the BIS on the success of this inaugural BIS Innovation Summit; which demonstrates the central banking community’s strong commitment to innovation, so that we may better serve our stakeholders. 2. I would like to share some perspectives on central bank innovation to round off this event. Firstly, why central banks should embrace innovation; Secondly
- MAS
- Parliamentary Replies
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- QUESTION NO 872 NOTICE PAPER 542 OF 2021 FOR WRITTEN ANSWER Date: For Parliament Sitting on 27 July 2021 Name and Constituency of Member of Parliament Mr Murali Pillai, MP, Bukit Batok SMC Question: To ask the Prime Minister whether MAS will require digital full banks to provide basic banking accounts and other financial services to unbanked and underbanked Singaporean adults so as to enhance their financial inclusion. Answer by Mr Tharman Shanmugaratnam, Senior Minister and Minister in charge of
- MAS
- Parliamentary Replies
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- For the Parliament Sitting on 2 March 2022 Name and Constituency of MP A/P Jamus Jerome Lim, Sengkang GRC Question MAS believes that Singapore is ready for a digital Sing dollar, but there is no pressing need for its issuance at this time. There are additional advantages to moving earlier on a digital Sing dollar. Some practical considerations could stand to be clarified . Answer by Mr Lawrence Wong, Deputy Chairman of MAS and Minister for Finance, on behalf of Mr Tharman Shanmugaratnam, Senior Minister
- MAS
- Speeches
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- Distinguished guests, ladies and gentlemen, good afternoon. I am grateful to SWIFT for the opportunity to speak to this distinguished gathering of finance and business leaders from across the world. Most of us here have an affiliation to finance or to technology, or more likely to both. Indeed, the extensive application of technology to enhance the design and delivery of financial services has become a defining feature of the last decade – the FinTech phenomenon. FinTech is increasingly pervasive
- MAS
- Speeches
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- Mr Yawar Shah, Chairman, SWIFT Mr Gottfried Leibbrandt, CEO, SWIFT ladies and gentlemen, good afternoon. A Revolution in Communications “What hath God wrought?" read the first telegraphic message sent by Samuel Morse on 24th May, 1844. The telegraph marked a revolution in communications at the time. Transatlantic telegraph cables cut communications between America and Europe from about 10 days – the time it took for steam ships to sail across the Atlantic – to a matter of minutes. In fact, the mid
- MAS
- Speeches
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- Ladies and gentlemen, good morning. I thank GIC for the invitation and am pleased to meet all of you. Why FinTech? About three-and-a-half years ago, the Monetary Authority of Singapore (MAS) made a momentous decision - to promote an innovative and dynamic financial sector by working with the industry to harness the power of technology. We saw that technology was transforming the way people live their lives, the way companies deliver products and services, and the way cities work and connect. Meanwhile
- MAS
- Media Releases
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- Singapore, 9 April 2020... The Monetary Authority of Singapore (MAS) urges individuals and businesses to use digital financial services and e-payments, and minimise visits to the premises of financial institutions (FIs). This will contribute to the effectiveness of the elevated safe distancing measures announced by the Ministry of Health (MOH) last week. 2 MAS expects FIs to be able to provide as many basic financial services through digital channels that do not require physical presence at FI premises
- MAS
- Speeches
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- Chairman and Council members of ABS, Ladies and Gentlemen, I would like to thank The Association of Banks in Singapore for inviting me to the anniversary dinner tonight. 2 For 45 years, you have facilitated fruitful collaboration among your member banks, served as a bridge between the industry and the regulator, and represented Singapore banks internationally. Congratulations for the good work you have done, and we look forward to the continued success of ABS. 3 Today, I would like to talk