Singapore
Singapore to step up consumer protection on e-payments
Banks must offer users better protection measures, but users could also face fines for recklessness or carelessness
Asian property developers face tougher scrutiny amid house price boom
Hong Kong and Singapore are putting more scrutiny on loans to property developers, as their housing markets continue to heat up
Singapore and Malaysia to set up stock market link
The two markets have a combined market capitalisation of more than $1.2 trillion and 1,600 publicly listed companies
Menon warns of Singapore's ‘demographic trilemma’
MAS chief says Singapore “must accept” slower growth of the labour force, but should also face up to the need for solutions
‘Goldilocks economy’ implies bears may not be far away – Menon
Despite reasons for optimism, “three grumpy bears” may soon return, says MAS chief
HKMA launches consultation on open API framework
Open API enables personalised services for bank users but requires access to customer data
MAS expands consumer debt management toolkit
New measure caps “unsecured credit” that banks can offer indebted borrowers; it is a “pre-emptive measure”, says MAS official
Asian banks vulnerable to fintech disruption, report finds
Banks reliant on transaction fees will struggle to compete with fintech firms who will offer cheaper alternatives; banks in HK, Korea and Singapore all at risk
Singapore broadens push into e-payments
Singapore expands payments regulation frameworks and launches a common QR code for e-payments
Singapore unveils cross-border fintech push
Singapore plans to work with central banks in Hong Kong, Canada and Thailand on fintech
DLT set to make central banks ‘obsolete’ as payment operators – report
Second phase of MAS’s Project Ubin deemed a success as central bank manages to deploy RTGS system on DLT fabric
MAS bans individuals involved in 1MDB scandal
Six people involved in 1MDB-related breaches have been issued prohibition orders by MAS, with two more facing potential future bans
MAS unveils plans to transform financial service sector
Authority hopes road map will boost financial services growth to nearly double that of the overall economy
People: MAS appoints cyber security chief in management reshuffle
MAS makes promotions including first chief cyber security office; Visco confirmed; Republicans turn on Yellen; Richmond Fed picks CFO; new chief of staff in Paraguay
Hong Kong and Singapore to collaborate on fintech
The first joint initiative of the two rival cities is to link the trade finance platforms with a DLT-backed interface
StanChart probed by MAS over fund transfers
MAS says supervisory probe is still ongoing and it will not tolerate abuse of its financial system; Indonesia is also reported to be investigating
True potential of blockchain lies in cross-border transactions – Menon
Singapore is investigating two use cases of blockchain in the cross-border sphere; technology could be used to prevent duplication of invoices in trade agreements
MAS working to keep crypto-currencies and ICOs under control
Authority is mulling how to respond to the growth of crypto-currencies and initial coin offerings
Monetary Authority of Singapore courts Asia bond issuers
MAS aims to strengthen Singapore’s position as Asia’s fixed-income hub for bond issuers
Malaysian central bank slams Ice and SGX over ringgit futures
Making them available offshore goes against foreign exchange rules, says Bank Negara Malaysia
Michael Wong Pakshong, 1931–2017
MAS’s first managing director led the institution from a turbulent foundation amid the collapse of Bretton Woods through a challenging period of monetary reform
Singapore’s inflation sees sudden drop in June
Sharp fall in inflation was due to the falling prices of housing maintenance and repairs, triggered by the timing of government rebates
Mystery shopping can strengthen supervision – MAS executive director
Unconventional tool can help distinguish whether accounts are misleading or inaccurate; supervision needs to be backed by “appropriate” enforcement
MAS’s Menon plays down record profit figure
The record-breaking profit was due to strong positive currency translation effects and higher investment gains