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- Media Releases
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- Singapore, 31 October 2022… The Monetary Authority of Singapore (MAS) released today a report detailing potential uses of a purpose-bound digital Singapore dollar (SGD) and the supporting infrastructure required, marking the successful completion of Phase 1 of Project Orchid Project Orchid was launched by MAS in November 2021. Please refer to this link for more information. . 2 A digital SGD can take different forms: a retail Central Bank Digital Currency (CBDC), which is the digital equivalent of
- 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
- Media Releases
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- Singapore, 3 November 2022…The Monetary Authority of Singapore (MAS) today launched Ubin+ , an expanded collaboration with international partners on cross-border foreign exchange (FX) settlement using wholesale central bank digital currency (CBDC). 2 Ubin+ will focus on the following: Study business models and governance structures for cross-border foreign exchange (FX) settlement, where atomic settlement, based on digital currencies, can improve efficiencies and reduce settlement risks compared
- MAS
- Parliamentary Replies
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- QUESTION NO 986 NOTICE PAPER 1346 OF 2018 FOR WRITTEN ANSWER Date: For Parliament Sitting on 10 September 2018 Name and Constituency of Member of Parliament Ms Sylvia Lim, MP, Aljunied GRC Question: To ask the Prime Minister whether the Government has thoroughly assessed the possible adverse economic and psychological impact that the move to a cashless society will have on particular segments of society. Answer by Mr Tharman Shanmugaratnam, Deputy Prime Minister and Minister in charge of MAS: 1
- MAS
- Macroeconomic Reviews
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- The global recovery was set back in Q4 2020 and Q1 this year, due to a resurgence in COVID-19 infections and the attendant disruption in economic activity. The strong and synchronous global rebound observed in Q3 2020 has given way to greater cross-country divergence in growth. However, the recovery momentum should be regained over the rest of 2021 as substantial policy stimulus flows through and vaccination programmes allow the progressive reopening of borders. Business and consumer sentiment surveys
- MAS
- Speeches
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- Chairman and Council Members of the ABS, Ladies and Gentlemen, 1. Thank you for inviting me to join you tonight. 2. I last addressed the ABS in 2006. At the time, Singapore’s economy and financial services sector registered robust growth. We successfully hosted the IMF-World Bank Annual Meetings that September. Then came the global financial crisis in 2008. 3. It was tumultuous worldwide, but in Singapore, our banks were well-capitalised and our system remained healthy throughout the
- MAS
- Consultations
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- MAS is proposing amendments to the MAS Notices 632A, 1106A, 825A and 115A (collectively, the Fact Sheet or FS Notices) to enhance financial institutions’ (FIs) disclosures on interest rate changes as well as alternative arrangements that FIs will provide to borrowers should they make unexpected interest rate changes after borrowers have committed to a property loan. This will help borrowers make informed decisions before committing to a property loan. MAS is also proposing amendments to the FS Notices
- MAS
- Speeches
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- Good morning. 1 Thank you for inviting me to join you today. There are important issues confronting the global economy. Allow me to share some observations on global and regional economic trends, and what they mean for Singapore. I look forward to hearing your views. 2015 in Retrospect 2 While the G3 appeared to be on the upswing phase of their gradual recovery from the GFC, emerging market economies (EMEs) in 2015 experienced a generalised downturn that was partly a result of policy responses
- MAS
- Forms and Templates
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- Form for entities (other than fund management companies) to apply for a capital markets services licence to conduct regulated activities under the Securities and Futures Act. Fund management companies should submit Form 1A , 1V or 22A , depending the type and scope of their fund management activities. New corporations should submit Form 1 to webmaster@mas.gov.sg in a single password-protected zip file together with any accompanying attachments in machine-readable format. An MAS officer will contact
- 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