Singapore’s financial regulator says a person’s past record in drug rehabilitation won’t automatically affect their eligibility for roles in the financial sector.

Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong, who also chairs the Monetary Authority of Singapore (MAS), said in Parliament on 4 November that admission to a Drug Rehabilitation Centre does not automatically disqualify an individual from working in the industry.

Gan was replying on behalf of the Prime Minister and Minister for Finance to a question from Associate Professor Jamus Jerome Lim, Member of Parliament for Sengkang GRC.

The question asked whether an individual who has attended a Drug Rehabilitation Centre would be regarded as not meeting the “fit and proper” criteria for a career in financial services.

He explained that under MAS’ Guidelines on Fit and Proper Criteria, financial institutions should assess various factors when considering applicants with a past record.

These include the seriousness and circumstances of the conduct, the time that has passed since the incident, and the responsibilities of the role being considered.

Gan added that financial institutions are also expected to apply their own hiring standards, such as evaluating candidates’ experience, qualifications, and skills relevant to the position.

He emphasised that each case should be assessed based on its own merits, and that a history of rehabilitation does not automatically preclude someone from pursuing a career in Singapore’s financial sector.

Featured image: Edited by Fintech News Singapore, based on image by MAS