IMPORTANT NOTICE: Scam emails, supposedly from MAS, have been sent to customers of moneylenders, asking for validation fees to be paid before loans are disbursed. MAS DOES NOT handle loan applications, nor collect validation fees or fees of any nature from the public. If you receive such emails, please DO NOT transfer any funds, and report the email to webmaster@mas.gov.sg.

Safe Transition to Phase 2 of the Re-opening for the Financial Sector

In line with MOH's announcement and MOM's requirements, FIs that re-open more branches and customer service locations, and resume more in-person financial services from 2359hrs on 18 June 20, must ensure that Safe Management measures are in place

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MAS’ Response to Queries on Fund Flows

Media reports suggesting large flows of deposits from Hong Kong to Singapore were incorrect. While foreign currency deposits in Singapore have grown substantially this year, the order of magnitude is much less than cited in some reports.

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14 digital bank applicants eligible for next stage of assessment

MAS announced that 14 of the 21 digital bank applications have met the eligibility criteria required for the application to be considered. These eligible applicants will progress to the next stage of assessment.

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MAS Urges Use of E-Payments to Support Safe Distancing Measures

MAS urges individuals and businesses to use digital financial services and e-payments, and minimise visits to the premises of financial institutions. This will contribute to the effectiveness of the elevated safe distancing measures announced by MOH.

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New S$6 Million Grant Scheme to Support Singapore FinTech Firms

MAS, SFA and AMTD launched a S$6 million FinTech Solidarity Grant to support Singapore-based FinTech firms in view of COVID-19 pandemic. The Grant will help FinTech firms maintain their operations, and enable them to continue to innovate and grow.

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Relief Measures for Landlords

MOF, IRAS, ESG and MAS announced measures to support landlords that may face cash flow constraints as a result of providing relief to tenants.

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MAS' Response to Covid-19

Learn about MAS' actions to support the Singapore economy and ensure the stability of our financial system amid the COVID-19 pandemic.

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News

  • Media Releases
    Published Date: 03 July 2020

    Investigation into Citadelle and Senjo Following Review of Developments Relating to Wirecard

    The Commercial Affairs Department (CAD) of the Singapore Police Force and MAS have launched a joint investigation into Citadelle Corporate Services Pte Ltd (“Citadelle”), Senjo Group Pte Ltd and its subsidiaries (“Senjo”) for suspected falsification of accounts under the Penal Code (Cap 224), as well as carrying on a trust business without a licence under the Trust Companies Act (Cap 336).

  • Media Releases
    Published Date: 02 July 2020

    Joint MAS-ESG-ACRA-ABS Response to Queries on Commodity Financing Standards in Singapore

    MAS, ESG, ACRA and ABS affirmed the industry efforts to enhance commodity financing standards in Singapore. Banks are taking a collaborative approach to develop a set of best practices for the commodities industry and will be consulting the trading companies. This will strengthen Singapore’s resilience, relevance and competitiveness as a global commodities trading hub.

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