Enhanced data governance and improved access. The Monetary Authority of Singapore (MAS) and Bank Negara Malaysia (BNM) today announced plans to commence a phased linkage of Singapore’s PayNow and Malaysia’s DuitNow real-time payment systems. The first phase of the PayNow-DuitNow linkage will be launched in the fourth quarter of 2022.…
Read More
The United States Department of the Treasury and the Monetary Authority of Singapore join to combat. The United States Department of the Treasury (“Treasury”) and the Monetary Authority of Singapore (“MAS”) announced the finalisation of a bilateral Memorandum of Understanding (“MoU”) on Cybersecurity Cooperation. This announcement was made during Vice…
Read More
By Loo Siew Yee assistant MD (Policy, Payments & Financial Crime) at MAS. Technology can be a powerful enabler in the fight against money laundering. The right solutions support financial institutions, and I will refer to them as FIs, to more sharply and quickly detect higher risk customers and activities,…
Read More
Model builds on successful connection of Singapore and Thailand’s national payment networks. The Bank for International Settlements Innovation Hub Singapore Centre and the Monetary Authority of Singapore (MAS) today published a proposed blueprint for enhancing global payments network connectivity via multilateral linkages of countries’ national retail payment systems. Titled Project Nexus ,…
Read More
Experiment was supported by J.P. Morgan’s Onyx. The Monetary Authority of Singapore (MAS) and Banque de France (BdF) have completed a wholesale cross-border payment and settlement experiment using central bank digital currency (CBDC). The experiment was supported by J.P. Morgan’s Onyx, simulated cross-border transactions involving multiple CBDCs (m-CBDC) on a…
Read More
Ravi Menon managing director at the Monetary Authority of Singapore talks about data and climate change. The demand for trusted data will only grow as regulators strengthen reporting and disclosure requirements. Yet, the availability of good data remains a big challenge. The process of ESG data acquisition is manual, cumbersome…
Read More
Aiming to promote the adoption and integration of technology solutions in the risk management and compliance functions of FIs. The Monetary Authority of Singapore (MAS) announced today a new Regulatory Technology (RegTech) grant scheme and an enhancement of the Digital Acceleration Grant (DAG) scheme to accelerate technology adoption in the…
Read More
MAS and Bank of Thailand allow for money transfer via mobile numbers. The Monetary Authority of Singapore (MAS) and the Bank of Thailand (BOT) today launched the linkage of Singapore’s PayNow and Thailand’s PromptPay real-time retail payment systems. The first of its kind globally, the linkage is the culmination of several…
Read More
The rapid adoption of digital solutions has enhanced the economic and social well-being of millions of people around the world. The Monetary Authority of Singapore (MAS) believes that while digital solutions have helped keep countries going during a global pandemic. Many of these solutions are not interoperable and digital transactions…
Read More
Will continue to adapt its rules as needed to ensure that regulation remains effective. The Monetary Authority of Singapore is keeping a close on the growth of cryptocurrency transactions of such assets among companies and retail investors in the country. Tharman Shanmugaratnam senior minister and minister in charge of MAS…
Read More