Monetary Authority of Singapore - News, Articles & Research

MAS orders DBS and Citibank to investigate lengthy outage

The Monetary Authority of Singapore has ordered DBS and Citibank to investigate why it took so long to get their systems back up after an outage earlier this month that disrupted online and payment services.

25 October 2023

Company announcement/sustainable

MAS issues banks with guidelines for Net Zero transition

The Monetary Authority of Singapore (MAS) today issued a set of consultation papers proposing guidelines on transition planning by banks, insurers and asset managers to enable the global transition to a net zero economy.

18 October 2023

Company announcement/startups

MAS selects 19 finalists for AI in finance challenge

The Monetary Authority of Singapore (MAS) announced today the 19 finalists for the “Artificial Intelligence (AI) in Finance Global Challenge” under the 2023 Global FinTech Hackcelerator.

10 October 2023

News/regulation

Central banks bid to embed compliance requirements into real-time transactions

The Bank for International Settlements, along with the central banks of Australia, Korea, Malaysis and Singapore, is exploring the possibility of embedding regulatory requirements into cross-border transactions.

05 October 2023

Company announcement/people

MAS chief Ravi Menon retires

The Monetary Authority of Singapore (MAS) announced today that the President of the Republic of Singapore has appointed Mr Chia Der Jiun as Managing Director (Designate), MAS from 1 November 2023 to 31 December 2023, and as Managing Director, MAS from 1 January 2024 to 31 May 2026.

05 September 2023

News/payments

Indonesia and Singapore set to introduce QR code payments

The central banks of Singapore and Indonesia are planning to introduce the use of QR codes for cross-border payments between the two countries.

17 August 2023

News/crypto

Singapore rolls out new regulatory framework for stablecoins

The Monetary Authority of Singapore has introduced a new regulatory framework intended to boost the stability of the nation's certified stablecoins.

15 August 2023

News/startups

Singapore central bank pledges $150 million to support new fintech projects

Singapore's central bank is to commit up to $150 million to support startups developing innovative financial technologies over the next three years.

08 August 2023

News/payments

Singapore to kill off corporate cheques in 2025

Singapore will eliminate corporate cheques by the end of 2025 but let people use them for "a period" beyond this. To help ease the transition, an electronic system will be built to allow users to make a deferred payment or issue a cashiers’ order.

31 July 2023

Company announcement/crypto

MAS ushers in new rules to safeguard customer assets held by digital payment token providers

The Monetary Authority of Singapore (MAS) today announced new requirements for Digital Payment Token (DPT) service providers to safekeep customer assets under a statutory trust before the end of the year.

03 July 2023

Company announcement/regulation

Ripple gets in-principle approval in Singapore

Ripple, the leader in enterprise blockchain and crypto solutions, today announced that its Singapore subsidiary Ripple Markets APAC Pte Ltd, has obtained In-Principle Approval of the Major Payments Institution License application from the Monetary Authority of Singapore (MAS).

22 June 2023

News/regulation

Singapore fines banks for AML breaches in Wirecard affair

Singapore has slapped three banks and an insurer with fines for anti-money laundering breaches connected with the Wirecard scandal.

22 June 2023

Company announcement/startups

MAS launches AI in Finance Challenge for the 2023 Global FinTech Hackcelerator

The Monetary Authority of Singapore (MAS) today launched the 8th edition of the Global FinTech Hackcelerator, titled “Artificial Intelligence (AI) in Finance Global Challenge”, to produce innovative and market-ready AI solutions that can transform the financial services industry.

12 June 2023

Company announcement/startups

AI to take centre stage at Singapore Fintech Festival

The Monetary Authority of Singapore (MAS) and Elevandi today announced the theme of the Singapore FinTech Festival (SFF) 2023 – ‘Applications of Artificial Intelligence (AI) in Financial Services’.

01 June 2023

News/cloud

MAS and Google Cloud collaborate on generative AI

The Monetary Authority of Singapore is to work with Google Cloud to explore potential use cases for generative AI.

31 May 2023

Company announcement/regulation

MAS launches AI and data analytics talent programme

The Monetary Authority of Singapore (MAS) today launched the Financial Sector Artificial Intelligence and Data Analytics (AIDA) Talent Development Programme.

22 May 2023

News/crypto

NY Fed and MAS find promise in CBDC for cross border payments

Distributed ledger technology can be used for cross-border, cross-currency payments between different CBDC ledgers, reducing settlement risk and cutting settlement time, according to research from the Monetary Authority of Singapore and the Federal Reserve Bank of New York.

22 May 2023

News/regulation

MAS lifts DBS capital requirement following wave of outages

The Monetary Authority of Singapore (MAS) has imposed additional capital requirements on DBS, following widespread outages in March and a subsequent disruption to its digital banking and ATM services earlier this month.

11 May 2023

Company announcement/security

US Treasury and MAS conduct cross-border cybersecutiry exercise

The United States Department of the Treasury and the Monetary Authority of Singapore (MAS) have been expanding its collaboration on cybersecurity and operational resilience issues since Vice President Kamala Harris announced the formal partnership and finalization of a bilateral Memorandum of Understanding (“MoU”) on Cybersecurity Cooperation between Treasury and Singapore’s MAS in August 2021.

02 May 2023

Company announcement/retail

MAS launches fintech grant scheme for Singpaore's universities

The Monetary Authority of Singapore (MAS) today announced the launch of the Polytechnic Talent for Finance Scheme to encourage financial institutions to hire and train polytechnic students and graduates.

24 April 2023