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- MAS
- Media Releases
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- Singapore, 19 June 2003 Despite the difficult global environment, total Assets Under Management (AUM) in Singapore grew a healthy 12% last year, according to the 2002 Asset Management survey conducted by the Monetary Authority of Singapore (MAS).
- MAS
- Enforcement Actions
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- 1 MAS has issued two prohibition orders against Mr Ho Chee Hui (“Mr Ho”), a former representative of The Great Eastern Life Assurance Company Limited (“GELS”), prohibiting him for a period of 2 years from: (a) carrying on business as an insurance intermediary and from taking part, directly
- September 2016, Mr Ho was convicted in the State Courts on one charge of criminal breach of trust under section 406 of the Penal Code (Cap. 224) for misappropriating his client’s insurance premium, while acting as a representative of GELS. 3 The prohibition orders against Mr Ho were issued by MAS
- MAS
- Media Releases
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- MAS will continue to promote the development of international rules for data connectivity in financial services.” ****
- Both countries will allow financial institutions to choose where their data is stored. 4 Mr Ravi Menon, Managing Director of the Monetary Authority of Singapore, said: “The DEA with Australia is Singapore’s first binding bilateral agreement to facilitate data connectivity in financial services.
- MAS
- Media Releases
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- Singapore, 27 April 2018...The Monetary Authority of Singapore (MAS) today announced the following changes to its senior management team: Mr Ng Nam Sin, currently Assistant Managing Director (Corporate, HR & IT Services) and CEO of the Institute of Banking & Finance Singapore (IBF), will be seconded
- MAS
- Letters to Editor
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- Angelina Fernandez (Ms) Director (Communications) Monetary Authority of Singapore on behalf of the MoneySENSE Financial Education Steering Committee
- The MoneySENSE secretariat (which comprises MAS staff) carefully vets the guides to make sure they do not push any products, specific financial institution or other commercial interests.
- MAS
- Speeches
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- MAS accepted all of the recommendations of the Council, with minor modifications, and issued a revised Code of Corporate Governance earlier this year.
- This is an area that MAS intends to engage the Boards and senior management of financial institutions on. Conclusion 27. We are making good progress in our corporate governance journey.
- MAS and SGX will be exploring this in the coming months. 12. In strengthening market discipline, disclosure is one side of the coin; the other side is the considered exercise of shareholder rights.
- MAS
- Media Releases
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- JOINT MAS-MND-HDB PRESS RELEASE 1 Market interest rates have risen significantly. They are likely to increase further in future, which will affect borrowing costs for home purchases.
- For property loans granted by private financial institutions, MAS will raise by 0.5%-point the medium-term interest rate floor used to compute the Total Debt Servicing Ratio (TDSR) and Mortgage Servicing Ratio (MSR).
- Measures to Ensure Prudent Borrowing Amid Rising Interest Rates Higher Medium-Term Interest Rate Floor to Compute TDSR and MSR 4 MAS will raise by 0.5%-point the medium-term interest rate floor used by private financial institutions to compute a borrower’s TDSR and MSR.
- MAS
- Speeches
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- In June, MAS launched the Green Bond Grant Scheme to nurture the growth of the green bond market and enlarge the supply of green assets. The grant defrays the costs of obtaining an external review for green bonds of up to S$100,000 per issuance.
- MAS is strengthening Singapore’s value proposition as Asia’s fixed income hub for bond issuers, and we would be glad for the opportunity to explore how we can serve your needs. 17. On this note, I wish you an enjoyable discussion ahead and many fruitful interactions.
- MAS introduced the Asian Bond Grant Scheme this year to support first-time Asia issuers in Singapore‘s bond market, up to an amount of S$400,000. We have received good interest thus far. II. Financing Asian infrastructure development 10. The second area is in infrastructure finance.
- MAS
- Letters to Editor
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- These are commercial decisions which MAS does not seek to influence.
- However, our regulations do require card issuers to disclose interest and late payment charges in their credit card bills to cardholders. 3 MAS agrees that the more sustainable solution to keeping bankruptcy and loan default rates low is for Singaporeans to learn how to better manage their finances
- MAS
- Media Releases
Last revised date:
- In financial services, Singapore has agreed to grant access for one Full Bank licence for Japanese banks that meet the relevant admission criteria of the Monetary Authority of Singapore.
- Interest from Japanese banks for the Full Bank licence should be referred to the Monetary Authority of Singapore by end-September 2007. The agreement also contained improved commitments in insurance and asset management. The JSEPA first entered into force in November 2002.