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- Media Releases
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- Singapore, 27 August 2015… At its inaugural meeting on 25 August, the Monetary Authority of Singapore's (MAS) Financial Centre Advisory Panel (FCAP) discussed strategies to grow Singapore’s financial centre, promote innovation and the use of technology, and build deep skills and capabilities.
- In the interim, MAS will work with FCAP members to further develop the ideas discussed and co-create initiatives to take them forward. ***
- Mr Ravi Menon, Managing Director, MAS, chaired the meeting, which was attended by 24 FCAP members from across Singapore’s banking, insurance, and asset management industries.
- MAS
- Parliamentary Replies
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- Question No. 85 Notice Paper No. 136 of 2009 For Oral Answer Date: For the Sitting on 18 August 2009 Name and Constituency of Member of Parliament Yeo Guat Kwang, Member for Aljunied GRC Question To ask the Senior Minister (a) whether the Monetary Authority of Singapore (MAS) is satisfied with the current
- motor insurance compensation scheme set out in the Motor Vehicles (Third-Party Risks and Compensation) Act; and (b) whether MAS will look into the feasibility of a no-fault motor insurance regime.
- MAS is working with relevant government agencies and stakeholders to study the issue carefully, and to consider the various proposals that have been raised, including the feasibility of introducing a no-fault regime.
- MAS
- Media Releases
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- The Dialogue was chaired by Ms Jacqueline Loh, Deputy Managing Director of the Monetary Authority of Singapore (MAS), and Mr Charles Roxburgh, Director General (Financial Services) of HM Treasury, and attended by senior officials from MAS, the Ministry of Finance (MOF), HM Treasury, the Financial Conduct
- Both sides also agreed to work closely through the FATF on the issue of de-risking. 4 The establishment of the Financial Dialogue and RMB Forum was first announced by the Chancellor of the Exchequer George Osborne and Singapore’s Deputy Prime Minister, Minister for Finance and Chairman of the Monetary
- MAS
- Letters to Editor
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- Bey Mui Leng (Ms) Director (Corporate Communications) Monetary Authority of Singapore
- MAS has indeed been working with SGX and various stakeholders to strengthen Singapore’s securities market. Some of these measures were mentioned by Deputy Managing Director, Mr Ong Chong Tee in an opinion editorial on 26 June 2015.
- MAS, SGX, and the Institute of Banking and Finance have been working closely with the broking industry to develop programmes that can help remisiers upgrade themselves and deliver higher value-adding services to their clients.
- MAS
- Media Releases
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- Singapore, 21 July, 2015….The Monetary Authority of Singapore (MAS) today announced that the first Singapore Savings Bond will be issued on 1 October 2015. Interested investors may apply for this issue from 1 September 2015. A new Savings Bond will be issued every month thereafter.
- Savings Bonds website and hotline 5 To help investors understand the features of Savings Bonds and learn how to apply for them, MAS has set up a Savings Bonds website which is accessible now at: www.sgs.gov.sg/savingsbonds .
- Applying for the first Savings Bond issue 2 On 1 September 2015, MAS will publish a public notice to provide information on the 1 October 2015 Savings Bond issue, including the amount on offer and the interest pay-out schedule from the 1st to the 10th year.
- MAS
- Parliamentary Replies
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- Answer by Mr Tharman Shanmugaratnam, Deputy Prime Minister and Minister in charge of MAS: 1 MAS monitors the availability of basic banking services such as automated teller machines (“ATMs”) and cash deposit machines.
- Where necessary and to address specific circumstances, MAS will engage relevant stakeholders to explore other commercially viable channels to facilitate access to basic cash services and to promote awareness of additional touchpoints. ***
- There is, on average, one cash withdrawal point (either branch or ATM) per 1,500 residents, and one cash deposit point (either branch or cash deposit machine) per 5,600 residents. 5 MAS remains committed in working with the banks to ensure that they continue to consider residents’ basic banking needs
- MAS
- Parliamentary Replies
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- MAS has been reaching out to the public through publicity campaigns and community outreach activities. In particular, MAS has been working with partners such as MoneySENSE, the Institute of Financial Literacy and grassroot organisations, to educate the public about Savings Bonds.
- MAS is encouraged by the take-up rate. 3 Notwithstanding, we think more can be done to raise public awareness and understanding of Savings Bonds. One of the common misperceptions is that investments in Savings Bonds are locked up for 10 years.
- what is the Ministry doing to reach out to the man in the street to explain the benefits of the bond Answer by Mr Ong Ye Kung, Minister for Education (Higher Education & Skills) and Second Minister for Defence, on behalf of Mr Tharman Shanmugaratnam, Deputy Prime Minister and Minister in charge of MAS
- MAS
- Enforcement Actions Media Releases
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- Mr Tan’s conviction was a result of a joint investigation conducted by the Monetary Authority of Singapore (MAS) and the Commercial Affairs Department of the Singapore Police Force.
- MAS will continue to pursue officers of companies who engage in such misconduct, to ensure a level playing field for all market participants.” ***** [1] Mr Tan was the Chief Financial Officer of BIGL from 5 October 2015 to 8 August 2017.
- Ms Loo Siew Yee, Assistant Managing Director (Policy, Payments & Financial Crime), MAS, said, “As the chief financial officer of a listed company, Mr Tan owed a duty to the company and its shareholders not to divulge price-sensitive information that has not been disclosed to the market at large.
- MAS
- Parliamentary Replies
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- MAS continues to work closely with the industry to review and enhance the suite of anti-scam measures. 3.
- The two rounds of anti-scam measures announced by MAS and the Association of Banks in Singapore in January and June this year have strengthened safeguards against unauthorised banking transactions, including when such transactions are effected via PayNow.
- Answer by Mr Tharman Shanmugaratnam, Senior Minister and Minister in charge of MAS: 1. According to statistics from the Singapore Police Force, there were 477 cases of banking related phishing scams involving PayNow transactions in 2021, with a median loss of S$3,400.
- MAS
- Parliamentary Replies
Last revised date:
- Answer by Mr Alvin Tan, Minister of State, Ministry of Trade and Industry and Ministry of Culture, Community and Youth, and Board member of MAS, on behalf of Mr Tharman Shanmugaratnam, Senior Minister and Minister in charge of MAS: 1.
- MAS does not expect widespread foreclosures in the near to medium term. This situation reflects in part the measures we have put in place over the years to limit the amount one can borrow to buy property, including our recent further tightening of the limits.
- Stress tests by MAS suggest that most households should still be able to service their mortgages under scenarios of further interest rate hikes and significant income losses. A relatively small proportion of highly leveraged households may however be more constrained under the stress scenario. ***