Tagged: ravi menon

Monetary Authority of Singapore and International Financial Services Centre Authority Exchange MoU

The International Financial Services Centre Authority (IFSCA) and the Monetary Authority of Singapore (MAS) recently exchanged a Memorandum of Understanding (MOU) on supervisory cooperation “in the presence of the Honorable Prime Minister of India Shri. Narendra Modi at GIFT City, Gandhinagar, India.” The MOU provides… Read More

NGFS Acknowledges Nature-related Risks May have Macroeconomic, Financial Implications

The NGFS released a “Statement on Nature-related financial risks”, which acknowledges that nature-related risks, “including those associated with biodiversity loss, could have significant macroeconomic implications, and that failure to account for, mitigate, and adapt to these implications is a source of risks relevant for financial… Read More

MAS, Association of Banks in Singapore Clamping Down on Phishing Scams; Interim Measures Expected in 2 Weeks

The Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) have responded to a recent spike in SMS phishing scams by introducing stricter security measures, they announced this week. The MAS said it expects all financial institutions to have “robust measures”… Read More

MAS Managing Director Menon to Lead 105-Member Network for Greening the Financial System

The Network for Greening the Financial System (NGFS) this week announced the appointment of the Monetary Authority of Singapore’s (MAS) managing director Ravi Menon as their new chair. He will serve for a two-year term. Formed at the Paris One Planet Summit in December 2017 by… Read More

CBDCs Have Potential But Not in 2022: Monetary Authority of Singapore Pumps the Brakes

CBDCs have the potential to make a significant impact on global finance, but appropriate safeguards need to be in place, an official from the Monetary Authority of Singapore (MAS) said today. The industry gathered for the Singapore FinTech Festival, where one of the presenters was… Read More

US Treasury Dept and Monetary Authority of Singapore Commit to MoU on Cybersecurity Cooperation

On Monday (August 23, 2021), the US Treasury Department and the Monetary Authority of Singapore (MAS) confirmed the finalization of a bilateral Memorandum of Understanding (MoU) on Cybersecurity Cooperation. This announcement has been made during Vice President Kamala Harris’ recent trip to Singapore, where the… Read More

Monetary Authority of Singapore Sets Aside $1.8B for Climate Related Investment Initiatives

The Monetary Authority of Singapore (MAS), the central bank and financial regulatory authority of the city-state, confirmed recently that it will be setting aside $1.8 billion for Climate-related investment initiatives. The MAS, which administers the various statutes pertaining to money, banking, insurance, securities, and the… Read More

Majority of ASEAN Region Fintech Firms are Planning to Raise Additional Funds while Expanding Operations in 2021: Report

Four in five or 80% of Fintech companies in the ASEAN region are focused on expanding their operations following the COVID-19 outbreak. ASEAN member countries include Brunei, Burma (Myanmar), Cambodia, Timor-Leste, Indonesia, Laos, Malaysia, the Philippines, Singapore, Thailand and Vietnam. A report from UOB, PwC… Read More

Singapore Develops Platform that Allows Residents to Consolidate their Financial Data

Singapore has introduced a data exchange platform that allows residents to consolidate their financial data which may be stored across several different databases belonging to various government agencies and banks. The data exchange solution has been developed by local government agencies, including the Monetary Authority… Read More

Monetary Authority of Singapore Announces the First Four Digital Banks to Receive Regulatory Approval

Monetary Authority of Singapore (MAS) announced on June 28, 2019, that it would issue up to two digital full bank (DFB) licenses and three digital wholesale bank (DWB) licenses. Last June, MAS announced that 14 out of 21 applications to become digital banks have met… Read More

Monetary Authority of Singapore Announces that Non-Bank Financial Institutitions May Access Retail Payments Infrastructure

The Monetary Authority of Singapore (MAS), the nation’s reserve bank and financial regulator, has revealed that eligible non-bank financial institutions (NFIs) will be able to gain direct access to the banking system’s retail payments infrastructure starting from February of next year. NFIs that are authorized to… Read More

Digital Finance: MAS MD Explains How Fintech Can Boost Financial Inclusion

In an interview as part of the Fintech Abu Dhabi Festival taking place this week, Ravi Menon, Managing Director of the Monetary Authority of Singapore (MAS), discussed how Fintech or digital finance has been boosted by the COVID health crisis. Digital Transformation Menon shared that… Read More

Ravi Menon, Managing Director of Monetary Authority Singapore, Says both Incumbents and Fintech Startups are Good for Financial Ecosystem

Ravi Menon, the Managing Director of the Monetary Authority of Singapore (MAS), recently delivered a speech on “Powering the next stage of Singapore Fintech” at the Singapore Fintech Festival Just five years ago, the country’s leaders had a vision that focused on making Singapore a… Read More

Asian Institute of Digital Finance Created by Monetary Authority of Singapore and Others Looks to Boost Fintech

The Monetary Authority of Singapore (MAS), along with the National University of Singapore (NAS) and National Research Foundation (NRF), have joined to create a new Fintech focused entity: the Asian Institute of Digital Finance (AIDF). AIDF is expected to provide thought leadership and strengthen synergies… Read More

Monetary Authority of Singapore to Support G20 TechSprint Initiative which Helps Fintechs, Regulators, Reserve Banks in Communicating with Each Other

The Monetary Authority of Singapore (MAS), the nation’s central bank and financial regulator,  confirmed recently that it would be supporting the inaugural G20 TechSprint initiative, which has been introduced by the Bank for International Settlements (BIS) Innovation Hub and the Saudi G20 Presidency on the… Read More

Monetary Authority of Singapore Boosts Fintech Cooperation with Canada, Tightens Relationship with Banque de France

The Monetary Authority of Singapore (MAS), the leading financial regulator and central bank of Singapore, has announced renewed cooperation on Fintech with Canadian Securities Regulators while simultaneously announcing a tighter relationship with the Banque de France. The announcements were released during Singapore’s annual Fintech Week… Read More

Monetary Authority of Singapore to Extend Additional Funding to Fintech Projects in 2020

The central bank of Singapore is preparing to extend additional funding for Fintech-related projects, because the five-year investment round ending in March has led to positive developments. The Monetary Authority of Singapore (MAS) will most likely announce additional funding plans in 2020, with key investments… Read More

Singapore’s Monetary Authority Head Ravi Menon Says Libra Raises Global Financial Risks

Ravi Menon, head of the Monetary Authority of Singapore (MAS), the nation’s central bank, has warned that Facebook’s controversial stablecoin project Libra raises significant global financial risks, which must be addressed by regulatory authorities.  Menon joins a growing list of regulators throughout the world who’ve… Read More

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

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