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.

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.

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.

Asset Management

A leading asset management and domiciliation hub that gives investors access to pan-Asian and global opportunities.

Enterprise Financing

Vibrant venture capital and private equity environment that supports a growing enterprise financing ecosystem.

Wealth Management

World class wealth management capabilities cater to evolving needs of wealth in Asia.

Foreign Exchange & Derivatives

Asia Pacific’s top foreign exchange and derivatives market continually evolves new capabilities to allow greater efficiencies.

Fixed Income

Asia’s fixed income hub that provides an efficient ecosystem catering to all issuer needs.

Infrastructure Finance

Developing a full service Asian infrastructure financing hub to cater to Asia’s growing infrastructure needs.

Sustainable Finance

Growing sustainable and green financing capabilities while helping financial institutions integrate sustainability factors into investment and business.

Insurance & Risk Financing

Global hub offering end-to-end risk financing solutions from traditional insurance to alternative capital, supported by advanced technology, and a skilled and professional workforce.

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.

IP Protection

Protect your intellectual property faster through the FinTech Fast Track Initiative, Patent Prosecution Highway and ASEAN Patent Examination Co-operation.

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.

Financial Institutions

MAS offers tax incentives for financial institutions setting up or expanding in Singapore. Learn about the Financial Sector Incentive (FSI) scheme and Insurance Business Development (IBD) scheme.

Innovation Centres

MAS has earmarked to commit $225 million under the Financial Sector Technology and Innovation (FSTI) scheme to provide support for the creation of a vibrant ecosystem for innovation.

FinTech Startups

Tap on grants for different stages of your FinTech startup - from proof of concept, hiring and early investing to overseas expansion and listing.

Proof of Concept

MAS provides funding support for experimentation, development and dissemination of nascent innovative technologies in the financial services sector. Find out about the FSTI Proof of Concept Scheme and how to apply.

Grants

MAS offers funding support to firms and individuals participating in the financial services sector through the Financial Sector Development Fund.

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.

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What's New

Parliamentary Replies

Published Date: 05 March 2020

Reply to Parliamentary Question on Green Bond Grant Scheme

Written Reply to Parliamentary Question on whether there are plans to expand the Green Bond Grant Scheme with stricter regulations to ensure the adherence to the Scheme's definition of eligible expenses.
FATF Statement

Published Date: 28 February 2020

February 2020 FATF Statement

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

Anti-Money Laundering AML/CFT
Media Releases

Published Date: 28 January 2020

Payment Services Act Comes Into Force

MAS announced the commencement of the Payment Services Act, which will enhance the regulatory framework for payment services in Singapore, strengthen consumer protection and promote confidence in the use of e-payments.
Media Releases

Published Date: 23 January 2020

Autoriti Monetari Brunei Darussalam and the Monetary Authority of Singapore to Expand Cooperation

Autoriti Monetari Brunei Darussalam (AMBD) and MAS committed to new areas of cooperation, with the signing of an enhanced Memorandum of Understanding on Bilateral Cooperation.
Enforcement Actions

Published Date: 17 January 2020

First civil penalty enforcement action for failure to disclose shareholding interests

The Monetary Authority of Singapore (MAS) has imposed a civil penalty of $200,000 on Mr Lim Soon Fang for not disclosing changes in, and providing false information regarding his shareholding in Asia-Pacific Strategic Investments Limited (ASIL).