Tag "Monetary Authority of Singapore (MAS)"

14 Out Of 21 Digital Bank Applicants Eligible for Next Stage of Assessment

The Monetary Authority of Singapore (MAS) announced today that 14 of the 21 digital bank applications have met the eligibility criteria required for the application to be considered. These eligible applicants, comprising five digital full bank (DFB) applicants and nine

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MAS Launches S$1.75 Million Challenge for a Pandemic-Resilient and Greener FSI Sector

The Monetary Authority of Singapore (MAS) announced on Monday the launch of a S$1.75 million MAS Global FinTech Innovation Challenge. The competition will seek innovative solutions that can help financial institutions respond to two critical global challenges: COVID-19 and climate

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Singapore to Allow Banks to Reopen with Strict Requirements

Financial institutions (FIs) in Singapore will be allowed to reopen more customer service locations from 2 June 2020. This will be carried out with strict safe management requirements in place, to minimise the risk of COVID-19 infections, in line with

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MAS and AMTD Group Allocates S$6M Grant to Support Singaporean Fintech

The Monetary Authority of Singapore (MAS), Singapore FinTech Association (SFA), AMTD Group and AMTD Foundation (collectively, AMTD) today announced the launch of a S$6 million MAS-SFA-AMTD FinTech Solidarity Grant (the Grant) to support Singapore-based FinTech firms amid the challenging business

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MAS Launches New Facility at 0.1% Interest Rats to Help Banks Lower Cost of Loans to SMEs

The Monetary Authority of Singapore (MAS) has launched the MAS SGD Facility for ESG Loans (the Facility) in partnership with Enterprise Singapore (ESG), to lend Singapore Dollars (SGD) at an interest rate of 0.1% per annum to eligible financial institutions,

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Covid-19 Support: Monetary Authority of Singapore Launches S$125 Million Package for Fintechs

The Monetary Authority of Singapore (MAS) today announced a S$125 million support package to sustain and strengthen capabilities in the financial services and FinTech sectors amid the current economic slump. The support package will help to position financial institutions (FIs)

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MAS and Financial Industry to Support Individuals and SMEs Affected by the COVID-19 Pandemic

The Monetary Authority of Singapore (MAS), together with the Association of Banks in Singapore (ABS), the Life Insurance Association (LIA), the General Insurance Association (GIA), and the Finance Houses Association of Singapore (FHAS), today announced a package of measures to

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MAS Tells Financial Institutions to Adopt Safe Distancing to Prevent COVID-19 Risks

The Monetary Authority of Singapore (MAS) issued today an advisory to all financial institutions (FIs) in Singapore, telling them to implement safe distancing measures in all aspects of their business operations, especially customer touch points. This is part of the

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Singapore’s Payment Services Act Expands MAS’ Scope to Regulate Crypto Payments

The Monetary Authority of Singapore (MAS) today announced the commencement of the Payment Services Act (PS Act). The new PS Act will enhance the regulatory framework for payment services in Singapore, strengthen consumer protection and promote confidence in the use

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Singapore Receives 21 Applications for Digital Bank Licences

The Monetary Authority of Singapore (MAS) announced that it has received 21 applications for digital bank licences as at the close of application on 31 December 2019. This comprises 7 applications for the digital full bank (DFB) licences, and 14

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