Singapore: Monetary Authority's Roadmap for a Leading Global Financial Centre in Asia

On October 30, 2017, the Monetary of Authority of Singapore (MAS) outlined its plan to transform Singapore into a leading global financial centre in Asia through its industry transformation map (ITM), which was drafted in consultation with stakeholders of the financial industry and the tripartite movement, setting out the framework for “growth strategies by business lines, programmes for upgrading skills, and an agenda for continuous innovation and technology adoption”.

According to MAS, Singapore’s financial sector has been steadily progressing in recent years; however, it is important that it keeps abreast of technological developments and remains competitive in the global financial market.

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