Monetary Authority of Singapore
Project Ubin’s Fifth And Final Phase Highlights Commercial Potential, Paving Way Towards Live Adoption
The Monetary Authority of Singapore (MAS) and Temasek jointly released a report to mark the successful conclusion of the fifth [1] and final phase of Project Ubin. The report “Project Ubin Phase 5: Enabling Broad Ecosystem Opportunities (3.53 MB)”, provides technical insights into the blockchain-based multi-currency payments network prototype that was built and describes how the network could benefit …
MAS To Create ‘Fairness Metrics’ For AI, Analytics Adoption In Financial Services
The Monetary Authority of Singapore (MAS) will be developing “fairness metrics” in credit risk scoring and customer marketing as part of the first phase of its Veritas initiative. Veritas is a framework for financial institutions to promote the responsible adoption of artificial intelligence (AI) and data analytics. Veritas consortium members United Overseas Bank and Element …
New Facility At Interest Rate Of 0.1% To Help Banks And Finance Companies Lower Cost Of Loans To SMEs
The Monetary Authority of Singapore (MAS) has launched the MAS SGD Facility for ESG Loans (the Facility) in partnership with Enterprise Singapore (ESG), to lend Singapore Dollars (SGD) at an interest rate of 0.1% per annum to eligible financial institutions, to support their lending to SMEs under the ESG Loan Schemes. The ESG Loan Schemes …
MAS Launches S$125 Million Package For Financial Institutions And FinTech Firms to Strengthen Long-Term Capabilities
The Monetary Authority of Singapore (MAS) announced a S$125 million support package to sustain and strengthen capabilities in the financial services and FinTech sectors amid the current economic slump. The support package will help to position financial institutions (FIs) and FinTech firms for stronger growth when the threat of COVID-19 recedes and economic activity normalises. …
MAS And Financial Industry To Support Individuals And SMEs Affected By The COVID-19 Pandemic
The Monetary Authority of Singapore (MAS), together with the Association of Banks in Singapore (ABS), the Life Insurance Association (LIA), the General Insurance Association (GIA), and the Finance Houses Association of Singapore (FHAS), announced a package of measures to help ease the financial strain on individuals and SMEs caused by the COVID-19 pandemic. The package …
MAS Tells Financial Institutions To Adopt Safe Distancing Measures
The Monetary Authority of Singapore (MAS) issued an advisory to all financial institutions (FIs) in Singapore, telling them to implement safe distancing measures in all aspects of their business operations, especially customer touch points. This is part of the national effort to reduce the risk of further local transmission of COVID-19. FIs were asked to …