MAS: Annual report 2006 / 2007
CONTENTS
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TEAMWORK - Our Partners
SINGAPORE 2006 INTERNATIONAL MONETARY FUND AND WORLD BANK GROUP ANNUAL MEETINGS
WORKING WITH INDUSTRY
FINANCIAL COOPERATION
WORKING WITH INDUSTRY 46
Dialogues with Professional Associations 46
Singapore Investment Banking Association Equity  
  Derivatives & Structured Products Taskforce 47
Industry Work Group On Securities And  
  Futures Act / Financial Advisers Act Amendments 47
Representative Notification Framework 47
Survey On Compliance Costs 47
Box 11 - MoneySENSE - Taking On A Much Higher Profile 48
Box 12 - Sixth International Advisory Panel Meeting 49
Box 13 - MEPS+: Improving The Efficiency Of Payment  
  Systems And Its Impact On Our Customers 50
Building A World Class Talent Pool for Singapore’s Financial Sector 50
Building A Quality Workforce 51
Attracting Financial Talent 51
Financial Research 51
Box 14 - Overseas Outreach Efforts 52
 
Box 11
MONEYSENSE - TAKING ON A MUCH HIGHER PROFILE
In the last year, the national financial education programme, MoneySENSE, has taken on a much higher profile. Through innovative programmes, from the first ever financial education TV game show to creative financial education roadshows, MoneySENSE delivered simple tips on managing personal finances to consumers from all walks of life.

The inaugural 2006 MoneySENSE Roadshow at the Toa Payoh Housing and Development Board Hub conveyed financial education in fun and non-intimidating ways via simple MoneySENSE games. It attracted more than 89,000 visitors. These games were eventually brought to 33,000 students at all five polytechnics as part of an extensive financial education outreach programme spearheaded by the Central Provident Fund Board and MoneySENSE.

MoneySENSE also leveraged on the media to bring financial education to the masses. It sponsored the first ever financial education game show “Dollars & Sense” ( ) on Channel U. The programme, which brought in over 1.3 million viewers, was also nominated for Best Variety Programme in the 2006 Star Awards. In addition, MoneySENSE ran a series of radio programmes that attracted over one million listeners. The programmes conveyed MoneySENSE tips on various topics ranging from budgeting to long term financial planning, and even tips on how to teach children about money matters.

There were several positive spill-over effects. In particular, we received many requests for MoneySENSE talks resulting in the number of talks rising from an average of two per month to about six to eight talks a month.

MoneySENSE partnered the Association of Banks in Singapore to introduce a programme to convey the importance of savings through an interactive skit to primary school students. We plan to bring this programme to all primary schools in Singapore over the next two years to educate children on money management.

Much of MoneySENSE's achievements would not have been possible without the strong support and commitment from the MoneySENSE Financial Education Steering Committee (FESC), industry associations, community bodies, the grassroot organisations, schools and tertiary institutions and media. The FESC consists of the Ministry of Community Development, Youth and Sports; Ministry of Education; Ministry of Manpower; Central Provident Fund Board; Monetary Authority of Singapore; National Library Board; and the People's Association. The industry associations partnering MoneySENSE are the Association of Banks in Singapore; Association of Financial Advisers of Singapore; Consumers Association of Singapore; Financial Planning Association of Singapore; General Insurance Association of Singapore; Insurance and Financial Practitioners Association of Singapore; Life Insurance Association of Singapore; Securities Investors Association (Singapore); Singapore College of Insurance; Singapore Deposit Insurance Corporation; and the Singapore Exchange Limited. We plan to continue working with our partners to deliver financial education to a wide group of Singaporeans.

Visitors enjoying a game at one of the booths at the 2006 MoneySENSE roadshow.