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- Singapore, 24 November 2008...The Monetary Authority of Singapore (MAS) announced today that we are in the final stages of setting up a sukuk issuance facility to provide Shariah-compliant regulatory assets to financial institutions as part of our efforts to promote the growth of Islamic Finance in
- A number of financial institutions have already expressed interest and we expect the first issue to take place at the start of next year." 3 MAS invites eligible and interested financial institutions to approach MAS as we work towards a formal launch. We will announce further details in due course
- This initiative was first announced at the 5th Islamic Financial Services Board Annual Summit held in Jordan in May 2008. 2 Speaking at the 15th World Islamic Banking Conference in Bahrain today, Heng Swee Keat, Managing Director, MAS said that the sukuk structure is based broadly on the Al-Ijarah
- MAS
- Media Releases
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- Singapore, 2 June 2008...The Monetary Authority of Singapore (MAS) has updated the Internet Banking and Technology Risk Management (IBTRM) Guidelines following consultation with the industry.
- This will help promote a security conscious environment and enhance public confidence in online financial systems. 5 The IBTRM Guidelines (Click here to view) (334.9 KB) is available on the MAS website. ***
- It also recommends enhanced technology risk management requirements for strengthening system, network and infrastructure security, and articulates stronger procedures for system development and security testing. 3 MAS expects the Board and senior management of banks to be responsible and accountable
- MAS
- Media Releases
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- Seoul, 24 October 2016… The Monetary Authority of Singapore (MAS) and the Korean Financial Services Commission (KFSC) today signed a cooperation agreement to foster greater cooperation in FinTech.
- Under the agreement, MAS and KFSC will explore potential joint innovation projects on technologies such as big data and mobile payments.
- MAS and KFSC will also discuss issues of common interest, and share information on FinTech trends and how it may impact existing regulations. 3 Sopnendu Mohanty, Chief FinTech Officer, MAS, said: “This agreement lays the groundwork for deeper FinTech collaboration between Singapore and South Korea
- MAS
- Media Releases
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- Singapore, 29 December 2011...The Monetary Authority of Singapore (MAS) announced that Mr Lim Chee Onn, Senior International Advisor to Singbridge Private Limited, Mr Peter Ong, Permanent Secretary of Ministry of Finance, and Mr Lucien Wong Yuen Kuai, Managing Partner of Allen & Gledhill, have been
- Their re-appointments will take effect on 1 January 2012. 2 The members of the MAS Board of Directors are listed in the Annex. *** Annex Board of Directors of the Monetary Authority of Singapore (with effect from 1 January 2012) Mr Tharman Shanmugaratnam (Chairman) Deputy Prime Minister; Minister for
- Ming Kian Chairman, Mediacorp Pte Ltd Mr Lim Chee Onn Senior International Adviser Singbridge Private Ltd Mr Lucien Wong Yuen Kuai Managing Partner, Allen & Gledhill Mr Peter Ong Boon Kwee Permanent Secretary, Ministry of Finance Mr Sundaresh Menon Attorney-General Mr Ravi Menon Managing Director, MAS
- MAS
- Media Releases
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- Singapore, 23 March 2011…The Monetary Authority of Singapore (MAS) today released a consultation paper on proposed regulation of credit rating agencies (CRAs).
- In line with global developments and to conform with international standards and practices, MAS is proposing to regulate activities conducted by CRAs.
- This is to ensure that Singapore remains an attractive location for CRAs to operate in. 2 MAS proposes to require CRAs to be licensed under the Capital Markets Services (CMS) licensing regime under the Securities and Futures Act (SFA) and be subject to licensing obligations.
- MAS
- Media Releases
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- Chiang Rai, Thailand, 4 April 2019… The Monetary Authority of Singapore (MAS) and the National Bank of Cambodia (NBC) today signed a Memorandum of Understanding (MOU) to strengthen cooperation in FinTech innovation between both countries. 2 Under the MOU, both countries will share information on
- Neav Chanthana, Deputy Governor, NBC, said, “The NBC and MAS have reached a new step of financial cooperation in the area of financial innovation through this MOU.
- MOU builds upon the long-standing relationship between the NBC and MAS, as well as our common focus to harness FinTech to create new opportunities that will benefit both individuals and businesses.
- MAS
- Speeches
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- MAS places great emphasis on talent development in the industry.
- MAS stands ready to curb excessive volatility in the Singapore Dollar. 7. MAS will continue to be vigilant and stay in close contact with fellow central banks and regulators, as uncertainty is likely to persist following the referendum outcome. 8.
- MAS has expressed the vision of a Smart Financial Centre where technology is used widely to increase efficiency, create new opportunities, manage risks better and improve people’s lives.
- MAS
- Media Releases
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- Singapore, 07 Oct 04...The Monetary Authority of Singapore (MAS) today issued a package of measures to raise market conduct standards in the sales and advisory process for structured deposits. The package includes a set of Guidelines on Structured Deposits under the Financial Adviser's Act (FAA).
- MAS has also published a consumer guide, "Making Sense of Structured Deposits", to raise awareness of the features of structured deposits, the risks involved and what consumers should look out for when investing in such products.
- The guide is available on the MAS "For the Consumer" portal under MoneySENSE - Consumer Guides and other Publications . (Click here for the BA Guidelines on Definition of a "Deposit" (19.2 KB) and the FAA Guidelines on Structured Deposits (41.3 KB) ***
- MAS
- Enforcement Actions
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- Background to the case 4 Between June and August 2018, MAS conducted an onsite inspection of UOBKH.
- UOBKH had acted as the issue manager for the IPO listing. 6 Mr Lan and Mr Wee are accused of providing false information in their statements to MAS, when MAS investigators subsequently questioned Mr Lan and Mr Wee concerning the due diligence reports. 7 If convicted, for each charge
- Singapore, 1 July 2020… Mr Lan Kangm ing and Mr Wee Toon Lee were charged today for offences under 162(3) of the Securities and Futures Act (SFA). 2 Mr Lan and Mr Wee each face 3 charges of providing false information to MAS investigators on 26 October 2018. 3 At the material time,
- MAS
- Media Releases
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- Singapore, 14 January 2021...The Monetary Authority of Singapore (MAS) announced today the appointment of Mr Leong Sing Chiong as Deputy Managing Director (Markets & Development). The appointment takes effect on 1 February 2021. 2.
- He held various appointments in MAS covering Markets and Investment, International, Financial Centre Development, and also served for two years as Chief Representative of MAS’ London Representative office from 2002 to 2004.
- Mr Leong will also continue in his current role as Assistant Managing Director (Markets & Investment) until a successor is appointed. ***** Additional information Mr Leong Sing Chiong (梁新松), 51, began his career with the Reserves Management Department of MAS in 1993.