Tagged: mas

International Monetary Fund Calls Financial Oversight in Singapore Among the Best Globally

The International Monetary Fund (IMF) has completed its Financial Sector Assessment Program for Singapore and has reportedly “reaffirmed” Singapore’s financial sector oversight to be “among the best globally,” according to a release. The IMF said the economic fundamentals of Singapore were strong and its economic… Read More

Monetary Authority of Singapore Signs Fintech Agreement with Central Bank of Kenya

The Monetary Authority of Singapore (MAS) has signed a “Fintech Cooperation Agreement” with the Central Bank of Kenya. The agreement was finalized during the inaugural Afro-Asia Fintech Festival in Nairobi, Kenya. The two entities said they will collaborate to develop digital infrastructure services including KYC… Read More

Singapore Advances Digital Only Bank Sector with Five New Digital Bank Licenses

The Monetary Authority of Singapore (MAS) will issue five new “digital bank licenses” according to the financial regulator. MAS said this was in addition to any existing Singapore banks which may also offer digital banking under existing rules. MAS said the new rules extend digital… Read More

Monetary Authority of Singapore Does Not Want to “Legitimise” Immature Crypto Sector by Jumping to Regulate It

Citing concerns about “…anonymity, speed and cross-border nature of DPT (cryptocurrency or digital payment tokens) transactions,” the Monetary Authority of Singapore (MAS) has stated it does not want to hasten regulation of cryptocurrencies because of the potentially “legitimizing” and popularizing effect doing so could have…. Read More

The Monetary Authority of Singapore Partners with Central Bank of Kenya on “Afro-Asia Fintech Festival”

Following the success of the state-sponsored Singapore Fintech Festival, the Monetary Authority of Singapore (MAS) has partnered with the Central Bank of Kenya (CBK) to launch a new event – the inaugural Afro-Asia Fintech Festival. The conference will take place in Nairobi this coming July…. Read More

The Bank of Canada and Monetary Authority of Singapore Use Blockchain for Cross Border Payment Experiment using CBDC

The Central Bank of Canada and Monetary Authority of Singapore (MAS) have jointly announced the successful “experiment” of cross border payments using blockchain or distributed ledger technology (DLT). The two central banks claim this is the first test anywhere of its kind stating it has… Read More

Cambridge Centre for Alternative Finance Research: Fintech Can Boost Financial Inclusion if Regulatory Innovation Exists

A new report by the Cambridge Centre for Alternative Finance (CCAF) states that if properly regulated, Fintech can “extend the benefits of financial inclusion to millions of unbanked and underbanked people around the world.” Fintech has the potential to provide enormous benefit for the less… Read More

Monetary Authority of Singapore Issues Another Warning Regarding Bogus Websites Promoting Cryptocurrency Investments

The Monetary Authority of Singapore (MAS) has issued another warning regarding bogus websites promoting fraudulent cryptocurrency investments that are claimed to be supported by the government of Singapore. MAS provided a single example of a fabricated CNBC site that prominently states: “Singapore Officially Backs a… Read More

Monetary Authority of Singapore Shuts Down Security Token Offering that Did Not Comply with Advertising Restrictions

The Monetary Authority of Singapore (MAS) has shut down a security token offering (STO) for a “regulatory breach.” MAS said the issuer in question failed to comply with advertising restrictions. Specifically, the STOs legal advisors promoted the offering on LinkedIn calling attention to the offering…. Read More

Monetary Authority of Singapore Subsidizes New Equity Listings with S$75 Million Grant

Seeking to boost their prominence as an equity financing hub in Asia, the Monetary Authority of Singapore (MAS) has announced a grant of S$75 million to help businesses raise funding via the Singapore equity market. Singapore is one of the most business-friendly jurisdictions in the… Read More

Monetary Authority of Singapore Announces New S$30 Million Cybersecurity Capabilities Grant

The Monetary Authority of Singapore (MAS) announced on Monday the launch of a new S$30 million Cybersecurity Capabilities Grant to strengthen the cyber resilience of the financial sector in Singapore and help financial institutions develop local talent in cybersecurity. According to MAS, the Grant was… Read More

MAS: Shanghai and Singapore Continue to Strengthen Financial Ties

The Monetary Authority of Singapore (MAS) and Shanghai Municipal Financial Regulatory Bureau (SFRB) continue to strengthen financial ties including in the hot Fintech sector. Jacqueline Loh, Deputy Managing Director of MAS, and Dr. Zheng Yang, Director General of the SFRB, highlighted the cooperation at the 4th… Read More

Singapore Looks to Incorporate New Regulatory Framework for Payment Services Including Crypto

Following the recent Fintech Festival in Singapore, the Monetary Authority of Singapore (MAS) has completed a new regulatory framework for payment services in Singapore. The Payment Services Bill is said to provide a “more conducive environment for innovation in payment services, whilst ensuring that risks across the payments… Read More

Bank of England, Bank of Canada & Monetary Authority of Singapore Join in Publishing Report on Payments and Possible Use of Blockchain

CROSS-BORDER INTERBANK PAYMENT AND SETTLEMENTS: Emerging opportunities for digital transformation Three governmental agencies have collaborated on a report pertaining to payments and settlements seeking to join in a push for a unified approach to this sector of Fintech. The Bank of England, Bank of Canada… Read More

Singapore: MAS Looks to Speed Up the Regulation Process with a Fintech “Sandbox Express”

The Monetary Authority of Singapore (MAS) has proposed an expedited process for aspiring Fintechs participating in their regulatory Sandbox. First launched in 2016, the Singapore Fintech Sandbox seeks to foster a mutually beneficial relationship between innovator and regulator.  In an industry with profound compliance requirements, the regulator is exposed to entrepreneurs seeking to… Read More

AFSA, AIFCA, & MAS Signs Corporate Agreement to Boost Fintech Ties Between Singapore & Kazakhstan

Fintech

The Astana Financial Services Authority (AFSA), Astana International Financial Centre Authority (AIFCA) and the Monetary Authority of Singapore (MAS) announced on Tuesday they have signed a tripartite Cooperation Agreement to boost FinTech ties between Singapore and Kazakhstan. The Cooperation Agreement was signed by Mukhtar Bubeyev, Acting… Read More

Central Bank of Bahrain Signs MOU with MAS to Strengthen Cooperation in Fintech

The Central Bank of Bahrain (CBB) and the Monetary Authority of Singapore (MAS) announced on Tuesday they have signed a Memorandum of Understanding (MOU) to strengthen cooperation between the two countries in fintech. According to the two organization, the MOU will support the sharing of information… Read More

InterAmerican Development Bank Group Teams Up With MAS to Promote Inclusive Financial Services in Latin America, the Caribbean, & ASEAN Regions.

The Inter-American Development Bank (IDB) Group, led by IDB Lab, the Group’s innovation laboratory, announced on Tuesday it has signed a Memorandum of Understanding (MOU) with the Monetary Authority of Singapore (MAS) to collaborate on projects and initiatives that will foster innovation in financial services… Read More

MAS Announces USD $5 Billion Placed with Private Equity & Fund Managers at Singapore Fintech Festival

The Monetary Authority of Singapore has announced a $5 billion program where the money is placed with private equity and infrastructure fund managers. The announcement was made during the weeklong Singapore Fintech Festival – an event that attracts tens of thousands of attendees each year…. Read More

Singapore Fintech Festival: Global Fintech Hackcelerator Winners Announced

Today, the Monetary  Authority of Singapore (MAS) has announced the winners of their annual Global Fintech Hackcelerator which takes place during the Singapore Fintech Festival each year. Three winners have been selected from a group of 20 finalists. KPMG assisted in the competition. “The Global… Read More

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