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- It is the fruit of a strong and substantive collaboration between the Monetary Authority of Singapore and the People’s Bank of China. MAS extended Qualifying Full Bank (QFB) privileges to ICBC and Bank of China in October 2012 as part of the China-Singapore Free Trade Agreement.
- Last month, MAS and PBC doubled the size of their bilateral currency swap facility from RMB150 billion to RMB300 billion.
- The scope of the swap facility was expanded to allow MAS to provide RMB liquidity to banks in Singapore. 3 Singapore is the first regional financial centre outside Greater China to have a RMB clearing bank.
- MAS
- Exemptions
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- MAS granted exemptions to 13 single family offices (SFOs) that provided fund management services to their respective sponsors.
- Exemptions granted by MAS under section 337(2) of the SFA for the period from 1 July to 30 September 2018. 1 2 Issue Date: 8 November 2018 EXEMPTIONS ISSUED PURSUANT TO SECTION 337(2) OF THE SECURITIES AND FUTURES ACT (CAP. 289) (SFA) For the period from 1 July 2018 to 30 September 2018
- MAS granted exemption to one Financial Adviser (FA) from the requirement to hold a CMS licence for dealing in securities in respect of their transmission of customers orders to another person for the purchase or sale of units in an ETF and/ or securities (other than ETFs).
- MAS
- Media Releases
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- Authority of Singapore (MAS) Veritas Phase 2 project.
- Authority of Singapore (MAS) Veritas Phase 2 project.
- Retrieved from https://www.mas.gov.sg/-/media/MAS/News-and-Publications/Monographs-and- Information-Papers/FEAT-Principles-Updated-7-Feb-19.pdf 30 Monetary Authority of Singapore. (2018).
- MAS
- Media Releases
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- This is also a testament of MAS' continuous commitment to help build capacity of insurance supervisors in this region." MAS is also an IAIS training centre and has been organising the annual Asian Insurance Directors seminar since 2001.
- Singapore, 5 June 2004...The Monetary Authority of Singapore (MAS), the International Association of Insurance Supervisors (IAIS) and the World Bank Institute (WBI) co-organised the pilot Core Curriculum seminar for insurance supervisors from 31 May to 4 June 2004. 2 The Core Curriculum is a joint
- Lecturers of the seminar included staff from the WBI and World Bank Consultants. 4 Mrs Hauw Soo Hoon, Executive Director of Insurance Supervision in MAS, said "We are honoured to host the launch of the first IAIS/ WB Core Curriculum which helps to improve global standards for insurance supervision
- MAS
- Media Releases
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- MAS is setting aside S$2.5 million over two years for the scheme from the Financial Sector Development Fund.
- 22 June 2004...The Monetary Authority of Singapore (MAS) today announced a new initiative, the Financial Sector Manpower Conversion Scheme. The scheme helps to re-channel manpower quickly to new growth areas in the financial sector through customised conversion training programmes.
- MAS has been in close consultation with the industry on the development of the conversion training programme curricula. The financial institutions have been very supportive and their participation ensures that the scheme will meet their needs." *** Notes to the Editor: 1.
- MAS
- Media Releases
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- The Monetary Authority of Singapore (MAS) has released a consultation paper on a proposed framework for the nomination of beneficiaries in respect of the proceeds of insurance policies. 2 Presently, there are no provisions in the Insurance Act to govern nomination of beneficiaries.
- set forth in this consultation paper, which can be found on the MAS website ( Click here to view the Consultation Paper (78.9 KB) ).
- With increasing public awareness of the need for long-term financial planning and changes in family circumstances, policyholders also desire greater flexibility with regard to how their insurance policy proceeds are to be disbursed. 3 In view of the above, MAS proposes to amend the Insurance Act to
- MAS
- Parliamentary Replies
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- The credit bureau and other MAS approved institutions participating in the bureau will only have access to a customer's credit history.
- MAS will only recognise and gazette the credit bureau when the concerns are adequately addressed, possibly in the form of a written code of conduct for the bureau. 4 Should a credit bureau fail to maintain the high standards expected of it, MAS will not hesitate to cancel its recognition of the bureau
- Once this happens, it becomes illegal for banks to provide customer information to the credit bureau. 5 MAS recognises that the consumer credit bureau has an important role to play in the financial industry.
- MAS
- Media Releases
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- John Palmer Appointed Deputy Managing Director Monetary Authority of Singapore 21 December 2001...Mr John Palmer, former Superintendent of Financial Institutions at the Canadian Office of the Superintendent of Financial Institutions (OSFI), will join the Monetary Authority of Singapore as Deputy Managing
- Mr Palmer will oversee the regulation and supervision of the banking and insurance industries. 2 Mr Tharman Shanmugaratnam had held the position of Deputy Managing Director (DMD) for Financial Supervision until he was made the Managing Director of MAS in April 2001.
- He brings to MAS extensive knowledge and experience in the financial regulation of banks and insurance companies. 6 With Mr Palmer's new appointment as Deputy Managing Director, Ms Teo Swee Lian will relinquish her oversight of the Insurance Department from 1 February 2002.
- MAS
- Parliamentary Replies
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- Answer 1 The Monetary Authority of Singapore (MAS) recognises the importance of property funds in creating liquid, transparent investment alternative for real estate investors and broadening the choice of tradeable securities in Singapore.
- MAS and the Ministry of Finance are currently reviewing the Trust Companies Act, and the updated legislation is scheduled to come into force in the second half of 2004.
- MAS had also raised the gearing level for property funds to 35% (from 25% previously) of the fund's deposited property in March 2003. Furthermore, a Singapore REIT's borrowings may exceed 35% of its deposited property if the credit rating of the fund or all of its borrowings is rated at least ?A?
- MAS
- Parliamentary Replies
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- Answer by Mr Tharman Shanmugaratnam, Senior Minister and Minister in charge of MAS: 1.
- Project Ubin, an industry effort led by the Monetary Authority of Singapore (MAS), has successfully experimented with blockchain technology for wholesale inter-bank payments and settlements, using a digital Singapore Dollar. DBS Bank, J.P.
- As one of the pioneers in experimenting with CBDCs, MAS is closely monitoring developments in digital currencies, and learning from the experiences of other central banks. * * *