Tag "Monetary Authority of Singapore (MAS)"
MAS Slaps DBS with S$1.6B Additional Cap Requirement Due to Consecutive Disruptions
The Monetary Authority of Singapore (MAS) has imposed an additional capital requirement on DBS Bank following two consecutive disruptions of its services in just over a month. Along with the additional capital requirement of S$930 million imposed on DBS in
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MAS Sets Aside S$8 Million to Help Polytechnic Students Get a Career in Finance
The Monetary Authority of Singapore (MAS) will set aside S$8 million over the next three years for the Polytechnic Talent for Finance scheme to expand the talent pipeline in the financial sector. The scheme, which will be administered by the
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MAS Directs DBS to Assess Staff and Tech Supporting Its Digital Banking Services
The Monetary Authority of Singapore (MAS) has directed DBS to conduct an assessment of the staff, processes, and technology supporting its digital banking services following its prolonged disruption on 29 March 2023. Senior Minister and Minister in charge of MAS
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Malaysia and Singapore’s QR Code Payments Linkage Has Gone Live
The cross-border QR code payment linkage between Singapore and Malaysia has gone live, enabling customers of participating financial institutions to make payments by scanning NETS QR and DuitNow QR codes. This will support in-person payments through the scanning of physical
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MAS: DBS’ Service Disruption ‘Unacceptable’, Bank Fell Short of Expectations
The Monetary Authority of Singapore (MAS) said that the disruption of DBS’ digital services yesterday is unacceptable especially since the bank experienced a similar incident in November 2021. MAS added that it takes “seriously the reliability of banks’ critical IT
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MAS: Credit Suisse to Continue Singapore Operations Without Disruptions
Credit Suisse will continue operating in Singapore without any interruptions or restrictions following its takeover by UBS, said the Monetary Authority of Singapore (MAS). MAS added that customers will continue to have full access to their accounts and Credit Suisse’s
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MAS: Singapore Banking System Has “Insignificant Exposures” to Failed US Banks
The Singapore banking system has “insignificant exposures” to the failed Silicon Valley Bank (SVB), Signature Bank and Silvergate Bank in the US, according to the Monetary Authority of Singapore (MAS). The regulator added that Singapore’s banking system still remains sound
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Singapore’s Cautionary Roar: Navigating Crypto’s Popularity with Prudence
Singapore is well-known for its proactive approach toward technology adoption and innovation. However, the country’s central bank, the Monetary Authority of Singapore (MAS), has taken a cautious approach to crypto or cryptocurrencies. The MAS views cryptocurrencies as inherently risky due to
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MAS to Enhance Security Measures to Prevent Cross-Border Payment Scams
The Monetary Authority of Singapore (MAS) said that it is working actively to review and enhance the suite of anti-scam measures in light of the launch of the real-time cross-border retail payment linkages, in a written reply to a parliamentary
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Singapore and India’s Real-Time Payments Linkage Goes Live
The real-time payments linkage between Singapore’s PayNow and India’s Unified Payments Interface (UPI) has officially gone live today. This will enable customers of participating financial institutions in Singapore and India to send and receive funds between bank accounts or e-wallets
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