With rising interest amongst High Net Worth Individuals and families to apply their wealth as a force for good, MAS sees a role for Singapore‘s financial centre, to intermediate wealth to purposeful causes that meet global and regional needs.

MAS is working with private banks, family offices and foundations to crowd in philanthropic capital to catalyse transformative outcomes that are aligned with the UN Sustainable Development Goals.

MAS’ Initiatives

Philanthropy Working Group

MAS established a Philanthropy Working Group in March 2021 under the Private Banking Industry Group (PBIG) to identify ways to enhance the philanthropy ecosystem in Singapore, both in areas of traditional grant giving, as well as innovative philanthropy models, such as venture philanthropy, blended finance and concessionary impact investing, that would facilitate the deployment of catalytic capital to achieve transformative change. These capital could support various causes including climate adaptation and climate change mitigation.

Philanthropy Advisory Technical Skills and Competencies (TSC)
IBF and MAS, in consultation with representatives from family offices, private banks and professional services firms, launched the Philanthropy Advisory TSC in November 2021. The TSC provides guidance on the skills and competencies that financial sector professionals should possess to support the philanthropic aspirations of high-net-worth individuals and families, and serves as a resource for training providers in the design of relevant training curriculum. 

More information on the TSC can be found within the Skills Framework for Financial Services