Posts From Fintech News Singapore
Thai Insurtech Roojai Acquires FWD General Insurance From bolttech
Thailand insurtech startup Roojai has agreed to acquire FWD General Insurance’s local business from bolttech to boost its market share in the country. Details of the transaction was not disclosed. Through this acquisition, Roojai will have a combined portfolio of
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DPM Lawrence Wong Succeeds Tharman Shanmugaratnam as MAS Chairman
The Deputy Prime Minister and Minister for Finance Lawrence Wong has been appointed as the new chairman of the Monetary Authority of Singapore’s (MAS) board of directors. His term will begin from 8 July 2023 and end on 31 May
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MAS Says Crypto Firms Must Segregate Customers’ Assets in a Trust by End-2023
Digital Payment Token (DPT) service providers will have to segregate customers’ assets from its own assets and safekeep it under a statutory trust before the end of the year, according to several new requirements laid out by the Monetary Authority
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Behind Singapore’s Experiment with a Digital Singapore Dollar
A new paper published by the Monetary Authority of Singapore (MAS) on June 21, 2023 introduces the concept of purpose bound money (PBM) and proposes a common protocol for digital money akin to a digital Singapore Dollar focusing on interoperability
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StanChart Appoints Singapore-Based Global Sustainability and Net Zero Lead
Standard Chartered has appointed Dana Barsky as its Global Head of Sustainability Strategy and Net Zero where she will be based in Singapore. In her new role, Dana will drive key sustainability agenda items that include overseeing the group’s delivery
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Singapore, Rwanda Launch RISE Programme to Boost Trade Opportunities
The Rwanda Imbaraga SME Ecosystem (RISE) programme has been launched to foster stronger connections between financial institutions and SMEs in both Rwanda and Singapore. RISE aims to equip SMEs in Rwanda with better capabilities to participate in domestic and cross-border
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MAS Proposes Code of Conduct on ESG Ratings and Data Products
The Monetary Authority of Singapore (MAS) is proposing an industry code of conduct for providers of Environmental, Social, and Governance (ESG) ratings and data products. ESG ratings help provide an assessment of the impact of ESG factors on an entity.
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MAS Proposes Raising Deposit Insurance Coverage to S$100,000
The Monetary Authority of Singapore (MAS) is proposing to increase deposit insurance (DI) coverage per depositor from S$75,000 to S$100,000 in a public consultation paper. The paper also seeks to improve the clarity and operational efficiency of the DI scheme.
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Spenmo Appoints Justin Choi as New CEO, Mohandass Takes up Advisory Role
Singapore-based payables management software platform Spenmo announced that it has appointed Justin Choi as its new CEO. He succeeds Mohandass Kalaichelvan who will assume an advisory position while remaining on the company’s Board of Directors. Mohandass said, “It has been
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MAS and SGX Group Collaborate with CDSC to Drive Global Climate Data Transparency
The Monetary Authority of Singapore (MAS) and Singapore Exchange (SGX Group) will collaborate with the Secretariat of the Climate Data Steering Committee (CDSC) so stakeholders around the world will have access to key climate transition-related data. This includes, but is
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