MAS aims to make Singapore the leading global financial centre in Asia by developing key focus areas. Find out about the opportunities and plans that we have to grow your business areas.
Development
MAS works closely with our partners to develop and promote Singapore as a regional and international financial centre. Find out about our strategies for developing the financial sector and the support we have for your financial institution.
Support Measures for Covid-19
Read more about the measures by the MAS, Association of Banks in Singapore, the Life Insurance Association, the General Insurance Association and the Finance Houses Association of Singapore to help individuals and SMEs affected by the COVID-19 pandemic.
MAS has announced a $125 Million support package for the financial and FinTech sectors to sustain and strengthen capabilities. This will position financial institutions and FinTech firms for stronger growth when the threat of COVID-19 recedes and economic activity normalises.
Why Singapore
Singapore offers financial institutions a pro-business and cost-competitive environment, excellent infrastructure, and a highly skilled and cosmopolitan labour force. Find out what makes Singapore a leading global financial centre.
Financial Services Industry Transformation Map
In Budget 2016, the Government launched the Industry Transformation Maps (ITMs), which drive transformation at the company, industry and economy-wide levels. The ITM for financial services outlines our growth strategies by business lines, programmes for upgrading skills, and an agenda for continuous innovation and technology adoption.
How MAS Supports You
The financial sector is an integral part of Singapore’s ambition to be a Smart Nation. Find out how MAS is creating a Smart Financial Centre through FinTech and Innovation here.
Grants for Innovation
Get funding on proof-of-concepts, hiring, business development and more.
API Exchange
World's first open architecture platform for financial institutions to easily discover FinTechs, quickly design prototypes and rapidly deploy solutions.
SGFinDex
World's first to use a national digital identity and centrally managed online consent system for secure access to financial data from private and public sectors.
Trade Finance
The Global Trade Connectivity Network (GTCN) is a cross-border DLT project to digitalise trade and trade finance.
Project Ubin
An industry collaboration exploring the use of Blockchain and Distributed Ledger Technology (DLT) for Central Bank Digital Currency.
Singapore FinTech Festival
The world's largest FinTech festival for the global FinTech community to connect, collaborate and co-create.
Regulatory Sandbox
Sandbox relaxes specific regulatory requirements to enable live experiments of innovation within boundaries.
Business sans Borders
A collaborative AI-driven global solutions hub to foster SME digitalization.
E-Payments
Understand more about MAS' payment initiatives like SGQR, FAST, PayNow and UPOS.
Financial institutions including startups can enjoy a range of MAS incentives and grants when setting up or expanding their operations in Singapore. Read about the support that is available for your business operations.
MAS works with Tripartite partners to build a sustainable pipeline of professionals and leaders in the financial sector. Financial institutions can get support for hiring and training as well as support for workforce transformation, while finance professionals can tap on funding for skill and career development.
What's New
-
"Payment Services (Amendment) Bill" - Second Reading Speech by Mr Ong Ye Kung, Minister for Transport, on behalf of Mr Tharman Shanmugaratnam, Senior Minister and Minister-in-charge of the Monetary Authority of Singapore, on 4 January 2021
In the Second Reading Speech for the Payment Services (Amendment) Bill, Mr Ong Ye Kung, Minister for Transport and MAS' Board Member, highlighted the main amendments in the Bill that would enhance the regulatory framework for payment services in line with global regulatory standards.
-
Terrorism Financing National Risk Assessment 2020
The TF NRA seeks to further deepen the understanding by law enforcement agencies, supervisors/regulators and the private sector of Singapore’s key TF threats and vulnerabilities, so that appropriate prevention and mitigation measures may be taken.
-
Singapore supports international efforts to strengthen IMF resources amidst the COVID-19 pandemic
MAS announced that Singapore will renew its loan commitments to support multilateral efforts to strengthen the capacity of the International Monetary Fund.
-
October 2020 FATF Statement
Read MAS' announcement on the October 2020 FATF Statement highlighting jurisdictions with strategic deficiencies in AML/CFT.
-
MAS and CSRC Enhance Cooperation at the 5th Bilateral Roundtable
MAS and the China Securities Regulatory Commission followed up on capital market developments and co-operation that had been discussed at the 16th Joint Council for Bilateral Cooperation. Other key areas of discussion included the management of financial, operational, and technology and cyber risks during the pandemic, as well as regulatory support for financial institutions in managing the challenges arising from the pandemic.