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Monetary Authority of Singapore (MAS)
Singapore Starts Race For First Digital Bank Licences
30th Aug 2019 | Written by:
Singapore’s financial regulator has fired the starting gun on a race to obtain one of a handful of new digital-only banking licences in the Asian financial hub.
Singapore: Monetary Authority Announces Opening of Applications for New Digital Banks
29th Aug 2019 | Written by:
On August 29, 2019, the Monetary Authority of Singapore (MAS) announced that it will start to accept applications for new digital bank licences. ...
Singapore: Monetary Authority Launches Sandbox Express for Faster Market Testing of Innovative Financial Services
7th Aug 2019 | Written by:
On August 7, 2019, the Monetary Authority of Singapore (MAS) launched Sandbox Express, which provides a faster option for firms to test innovative financial products and services in the market. ...
New Cyber Rules A Double Whammy For Singapore Payments Firms
7th Aug 2019 | Written by:
Singapore has introduced a suite of new cyber-hygiene requirements for financial services firms, despite resistance from payment providers still getting to grips with comprehensive reforms across...
Singapore: Monetary Authority Introduces New Rules for Cyber Resilience
6th Aug 2019 | Written by:
On August 6, 2019, the Monetary Authority of Singapore (MAS) published a new set of operational rules for financial institutions to improve cybersecurity resilience in the city-state’s financial...
Singapore: Monetary Authority Consults on Proposed Payments Services Notices and Guidelines
5th Jul 2019 | Written by:
On July 5, 2019, the Monetary Authority of Singapore (MAS) released a consultation paper on proposed payment services notices and guidelines. ...
Singapore To Break Open Digital Banking Regime To Non-Banks
1st Jul 2019 | Written by:
Singapore is opening its digital banking ecosystem to non-banks, unveiling a plan to issue up to five new licences to fintechs in what officials are calling “the next chapter in Singapore's banking...
Fintechs Could Be Winners As Singapore Mulls Digital Bank Licences
11th Jun 2019 | Written by:
Fintechs and payment firms could be big winners if Singapore’s financial regulator moves ahead with creating a new virtual banking licence, experts have said.
Singapore: Monetary Authority Consults on Proposed Payment Services Notices on Prevention of Money Laundering and Countering the Financing of Terrorism
6th Jun 2019 | Written by:
On June 6, 2019, the Monetary Authority of Singapore (MAS) launched a consultation paper proposing two new payment services notices on the prevention of money laundering and terrorist financing —...
Navigating Maritime Sanctions Leaves Banks In Choppy Waters
24th May 2019 | Written by:
Banks and other financial institutions are failing to grapple with the complex task of ensuring business with the commodities shipping sector does not lure them into the rocky shores of non...
Singapore: MAS Finalises New Payment Services Bill
9th May 2019 | Written by:
On November 19, 2018, the Monetary Authority of Singapore (MAS) announced that it has finalised the new regulatory framework for payment services in Singapore. The Payment Services Bill includes a...
Singapore And Canada Announce Landmark International Blockchain Payment
3rd May 2019 | Written by:
The central banks of Singapore and Canada have settled reciprocal payments using distributed ledger technology (DLT), the first such successful effort between two central banks, although they have...
Canadian and Singaporean Central Banks Conduct Successful Cross-Border Payment Experiment Using Distributed Ledger Technology
2nd May 2019 | Written by:
On May 2, 2019, the Bank of Canada and the Monetary Authority of Singapore (MAS) jointly published a report titled “Jasper-Ubin Design Paper: Enabling Cross-Border High Value Transfer Using...
Singapore: Monetary Authority Updates E-Payments User Protection Guidelines
25th Apr 2019 | Written by:
On April 25, 2019, the Monetary Authority of Singapore (MAS) updated its E-Payments User Protection Guidelines to clarify that they do not override customers’ instructions to their financial...
Singapore: MAS Consults on Proposed Payment Services Regulations
10th Apr 2019 | Written by:
On April 10, 2019, the Monetary Authority of Singapore (MAS) released a consultation paper on proposed payment services regulations. The consultation follows the recent adoption of the Payment Ser...
FATF Considers Guidance On Proliferation Financing As Global Focus Grows
9th Apr 2019 | Written by:
Proliferation financing looks set to become a growing priority for financial institutions, as more governments and trade bodies follow the lead of the Financial Action Task Force (FATF) and turn...
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