Tagged: ravi menon

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

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

Fintech in Singapore: MAS Director Opens up Annual Festival, “It Is About Innovation, Inclusion, and Inspiration”

Ravi Menon, Managing Director of the Monetary Authority of Singapore (MAS) helped to kick off the annual Singapore Fintech Festival today with a wide-ranging speech on the benefits of financial innovation. Singapore has become a hub in southeast Asia for Fintech development. The Festival attracts thousands… Read More

Monetary Authority of Singapore Signs Fintech MOU with Indonesia

The Monetary Authority of Singapore (MAS) and the Financial Services Authority of the Republic of Indonesia, or “Otoritas Jasa Keuangan” (OJK), have signed a memorandum of understanding (MOU) to boost Fintech cooperation and foster innovation in financial services between the two countries. The MOU is… Read More

Singapore Tightens Financial Cooperation with China

According to a release from the Monetary Authority of Singapore, China and Singapore have “achieved new milestones in financial cooperation.” During the 14th Joint Council for Bilateral Cooperation (JCBC), co-chaired by Singapore Deputy Prime Minister and Coordinating Minister for National Security, Mr Teo Chee Hean,… Read More

US Commodity Futures Trading Commission and Monetary Authority of Singapore Agree to Cooperate on Fintech Innovation

The US Commodity Futures Trading Commission (CFTC) and the Monetary Authority of Singapore (MAS) has signed an agreement to collaborate on Fintech innovation. MAS has signed many of these types of agreements over the past several years. The CFTC is unique in the US as… Read More

Singapore: Fintech Has Created 1/4 of New Financial Sector Jobs in Past Two Years

Ravi Menon, Managing Director of the Monetary Authority of Singapore (MAS), delivered a speech today at the MAS Annual Report Media Conference. Within the prepared remarks, Menon revealed that “Fintech alone is estimated to have contributed close to 2,000 of the net jobs created during… Read More

Singapore Partners with Vietnam as MAS Signs New Fintech Agreement

The Monetary Authority of Singapore (MAS) and the State Bank of Vietnam (SBV) have agreed to form a new partnership to encourage Fintech innovation while simultaneously strengthening cooperation in banking supervision. MAS has signed numerous bilateral Fintech agreements with many different jurisdictions. The strategy has… Read More

The Good, The Bad & The Ugly: Monetary Authority of Singapore Critiques Cryptocurrency Market

In a speech delivered at the Money20/20 Asia conference in Singapore, Ravi Menon, MD of the Monetary Authority of Singapore (MAS) delivered a speech assessing the state of cryptocurrencies and initial coin offerings (ICOs). Entitled, “Crypto Tokens: The Good, The Bad, and The Ugly,” Menon… Read More

Monetary Authority of Singapore Launches Consultation on Payments Including Cryptocurrencies

The Monetary Authority of Singapore (MAS) has launched a second consultation on a payments regulatory framework, known as the Payment Services Bill. The Bill is designed to streamline the regulation of payment services under a single legislation, expand the scope of regulated payment activities to… Read More

Bangko Sentral ng Pilipinas & Monetary Authority of Singapore Signs New Fintech Co-operation Agreement

The Bangko Sentral ng Pilipinas (BSP) and the Monetary Authority of Singapore (MAS) announced on Thursday they have signed a Fintech Co-operation Agreement (CA) to promote innovation in financial services in their respective markets. The BSP-MAS CA was signed at the sidelines of the second… Read More

Competing Fintech Hubs Singapore & Hong Kong Sign Cooperation Agreement

The Monetary Authority of Singapore (MAS) and the Hong Kong Monetary Authority (HKMA) have signed a cooperation agreement to strengthen Fintech ties between the two Asian financial centers. There was a signing ceremony organized by HKMA today in Hong Kong. As part of the Agreement,… Read More

Monetary Authority of Singapore: DLT is a Natural Platform for Collaboration

Ravi Menon, Managing Director of the  Monetary Authority of Singapore (MAS), spoke about the intrinsic potential of Blockchain or Distributed Ledger Technology (DLT) at the Global Blockchain Business Conference last week in India. Singapore is the leading Fintech hub in southeast Asia and is keen… Read More

As Fintech Takes Hold, MAS Creates Cyber Security Panel to Address Security Concerns

The Monetary Authority of Singapore (MAS) has created an international advisory panel for cyber security – launched in recognition of the shifting environment of financial services as increasingly all services are moving online. The newly formed panel is comprised of cyber security thought leaders from… Read More

Singapore Payments Council Creates Taskforce for Consistent QR Code

  The Singapore Payments Council has created a task force to develop a common QR Code for the country. This is part of a broader initiative of establishing interoperable electronic payments. Singapore is keen to facilitate digital transactions. Council members advocated the use of QR… Read More

Monetary Authority of Singapore Creates Payments Council

The Monetary Authority of Singapore (MAS) will establish a “Payments Council”, a move designed to facilitate the vision of an e-payments ecosystem in Singapore. This includes the development of seamless payments solutions like PayNow, supporting the introduction and rollout of unified point-of-sale terminals at merchants, and… Read More

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