Singapore, 9 April 2020... The Monetary Authority of Singapore (MAS) urges individuals and businesses to use digital financial services and e-payments, and minimise visits to the premises of financial institutions (FIs). This will contribute to the effectiveness of the elevated safe distancing measures announced by the...

MAS announced that it will extend the assessment period for the award of digital bank licences in view of the COVID-19 pandemic. Successful applicants will be informed in 2H 2020 instead of June 2020 as originally intended.

In response to a letter in The Business Times calling for short sell trades of any size on SGX to be published within 24 hours, MAS and SGX clarified that information on short sell trades and outstanding short positions are currently published on both parties’ websites according to existing rules.

This is a quarterly brief which aims to provide a quick pictorial summary of recent economic developments in the Singapore economy.

Read MAS' announcement on the February 2020 FATF Statement highlighting jurisdictions with strategic deficiencies in AML/CFT.

MAS conducted thematic inspections on the sales and advisory practices of selected financial institutions operating in the private banking industry over 2018 and 2019. This information paper highlights inspection observations and MAS’ supervisory expectations that relevant financial institutions should benchmark themselves against.