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A Singapore Government Agency Website

 * WHO WE ARE
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 * Home
 * Regulation
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   REGULATION
   
   Access regulations, updates and licensing information
   
    * Banking
      
      Regulations, guidance and licensing for deposit-taking institutions
      
       * Licensing
       * Regulations and Guidance
   
    * Capital Markets
      
      Regulations, guidance and licensing for capital market entities
      
       * Licensing
       * Regulations and Guidance
       * Offers of Investments
       * Disclosures
   
    * Insurance
      
      Regulations, guidance and licensing for insurers
      
       * Licensing
       * Regulations and Guidance
   
    * Payments
      
      Regulations, guidance and licensing for payment service providers and
      systems
      
       * Licensing
       * Regulations and Guidance
   
    * Focus Areas
      
      Information on MAS’ approach, strategies and efforts in these key areas
      
       * Anti-Money Laundering
       * Enforcement
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    * Supervisory Approach and Regulatory Instruments
      
      MAS’ approach to supervision and the instruments under the Acts it
      administers
      
      
   
   
   QUICK LINKS
   
    * Financial Institutions Directory
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 * Development
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   DEVELOPMENT
   
   Find out about MAS’ strategies to develop and support the financial sector
   
    * Why Singapore
      
      Discover what makes Singapore a leading global financial centre
      
      
    * FinTech and Innovation
      
      Find out how MAS is co-creating a Smart Financial Centre
      
       * FinTech and Innovation Overview
         
         Latest information on MAS’ FinTech strategy, initiatives and funding
         schemes
      
       * Grants for Innovation
         
         Get funding on proof-of-concepts, hiring, business development and more
      
       * Regulatory Sandbox
         
         Sandbox relaxes regulatory requirements to enable live experiments of
         innovation
      
       * E-Payments
         
         Various payment initiatives including SGQR, FAST and PayNow
      
       * API Exchange
         
         World’s first open architecture platform for FIs to discover FinTechs
         and deploy solutions
      
       * Green FinTech
         
         Understand the various initiatives for technology solutions and
         projects in Green Finance.
      
       * Project Ubin
         
         Industry collaboration that explores blockchain’s usage for Central
         Bank Digital Currency
      
       * Singapore FinTech Festival
         
         World’s largest festival for the FinTech community to connect,
         collaborate and co-create
      
       * IP Protection
         
         Fast track intellectual property protection through various initiatives
      
       * Business sans Borders
         
         A collaborative AI-driven global solutions hub to foster SME
         digitalisation
   
    * Business Areas
      
      Find out about the opportunities and plans that MAS has to grow your
      business areas
      
       * Asset Management
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    * Set Up & Expansion
      
      Read about the support that is available for your business operations
      
       * Grants
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       * Proof of Concept
   
    * Skills & Career Development
      
      Find out how MAS and our partners build a pipeline of financial
      professionals and leaders
      
      
   
   
   QUICK LINKS
   
    * Financial Institutions Directory
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 * Monetary Policy
   Back
   
   
   MONETARY POLICY
   
   Read about MAS’ monetary policy framework, central bank operations and
   related information
   
    * Policies, Statements and Surveys
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    * Central Bank Operations
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       * MAS Floating Rate Notes
   
    * Economics Education
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    * Research
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    * Advance Release Calendar
      

 * Bonds & Bills
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   BONDS & BILLS
   
   Get information on SSB, SGS Bonds, T-bills, MAS Bills and MAS FRN
   
    * Auctions and Issuance Calendar
      
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    * Statistics
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    * Investment Guides
       * Investing in Singapore Government Securities (SGS) Bonds
       * Investing in Singapore Savings Bonds (SSB)
   
   
   QUICK LINKS
   
    * My Savings Bonds
    * eApps

 * Currency
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   CURRENCY
   
   Discover more about the Singapore’s currency
   
    * Circulation Currency
       * Notes
       * Coins
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       * Mutilated Currency
       * Currency Distribution Cycle
   
    * Brunei-Singapore Currency Interchangeability Agreement
      
    * Commemorative and Numismatic Currency
       * Past Notes
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       * Redemption
   
    * Accepting Legal Tender
      
    * Using Images of Singapore Currency
      
    * History of Currency in Singapore
      

 * Publications
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   PUBLICATIONS
   
   Access the various consultations, monographs, macroeconomic reviews and other
   publications
   
    * Consultations
      
    * Money and Banking Monthly Statistical Bulletin
      
    * Economic Essays
      
    * Staff Papers
      
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    * Financial Sector Development Fund Annual Report
      

 * Statistics
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   STATISTICS
   
   View data on Singapore’s financial sector, reserves statistics, exchange
   rates and others
   
    * Exchange Rates
      
    * Monthly Statistical Bulletin
       * About the Monthly Statistical Bulletin
       * Money and Banking
       * Non-Bank Financial Institutions
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    * Interest Rates and Core Inflation
       * MAS Core Inflation
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       * Interest Rates of Banks and Finance Companies
   
    * Bonds & Bills Statistics
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    * Insurance Statistics
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    * Currency Statistics
      
    * Reserve Statistics
       * Official Foreign Reserves
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    * RMB Statistics
      
    * OTC Derivatives Statistics
       * About OTC Derivatives Statistics
       * Monthly Statistics
   
    * Payment Statistics
       * Semi-Annual Retail Payment Statistics
   
    * Access and Submit Statistical Surveys
      
    * View a list of Application Programming Interfaces (APIs)
      

 * News
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   NEWS
   
   Get the latest news, speeches, updates and announcements
   
    * Media Releases
      
    * Speeches
      
    * Parliamentary Replies
      
    * Letters to Editor
      
    * Consumer Price Developments
      
    * Monetary Policy Statements
      
    * Enforcement Actions
      
    * Bond and Bills
      

 * Careers
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   CAREERS
   
   Find out about working in MAS and the various opportunities that are
   available
   
    * Life@MAS
      
    * Learning and Development at MAS
      
    * Meet Our People
      
    * Opportunities for Mid-Career Professionals
      
    * Opportunities for Students & Graduates
       * Scholarship
       * Graduate Officers
       * Internship Programme

 * Who We Are
 * Contact Us

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slide 2 of 4

MAS Gallery is open!

Come on board an amazing experiential journey with contactless multimedia
exhibits at the MAS Gallery today!

MAS Gallery

A Framework for Equitable Sharing of Losses Arising from Scams

MAS’ update on the additional measures that banks have implemented to bolster
the security of digital banking in Singapore, as well as the development of a
framework for equitable sharing of losses arising from scams.

READ MORE

“Responding to a Perfect Long Storm”

Mr Tharman Shanmugaratnam, Senior Minister and Chairman, MAS spoke on 5 trends
shaping the global outlook: geopolitical insecurity, stagflation risk, climate
crisis, pandemic insecurity, fragility from divergences between developing &
advanced world.

READ MORE

"Bolstering the Security of Digital Banking"

Ministerial Statement by Mr Lawrence Wong, Minister for Finance and Deputy
Chairman of the Monetary Authority of Singapore (MAS), on behalf of Mr Tharman
Shanmugaratnam, Senior Minister and Minister-in-charge of MAS

READ MORE

MAS Gallery is open!

Come on board an amazing experiential journey with contactless multimedia
exhibits at the MAS Gallery today!

MAS Gallery

A Framework for Equitable Sharing of Losses Arising from Scams

MAS’ update on the additional measures that banks have implemented to bolster
the security of digital banking in Singapore, as well as the development of a
framework for equitable sharing of losses arising from scams.

READ MORE

Decrease font size Increase font size Print this page


NEWS

 * Media Releases
   Published Date: 27 April 2022
   
   
   MAS REPORTS STRONG ENFORCEMENT OUTCOMES AND PUBLISHES UPDATES ON MAJOR
   INVESTIGATIONS
   
   Singapore, 27 April 2022… In its latest Enforcement Report published today,
   the Monetary Authority of Singapore highlighted the strong enforcement
   actions taken against financial institutions (FIs) and individuals for
   breaches of laws and regulations administered by MAS. In response to investor
   and industry feedback,...
   
   
 * Speeches
   Published Date: 26 April 2022
   
   
   KEYNOTE SPEECH BY MS GILLIAN TAN, ASSISTANT MANAGING DIRECTOR (DEVELOPMENT &
   INTERNATIONAL), MONETARY AUTHORITY OF SINGAPORE, AT RISK AND INSURANCE
   MANAGEMENT SOCIETY (RIMS) - WILLIS TOWERS WATSON (WTW) ASIA PACIFIC RISK
   VIRTUAL CONFERENCE ON 26 APRIL 2022
   
   At the Willis Towers Watson Asia Pacific Risk Virtual Conference, Ms Gillian
   Tan, MAS’ Assistant Managing Director (Development & International), outlined
   the challenges and opportunities for the finance and insurance sector, and
   how Singapore seeks to support necessary efforts in each area.
   
   
 * Enforcement Actions Media Releases
   Published Date: 25 April 2022
   
   
   MAS TAKES CIVIL PENALTY ACTION AND ISSUES PROHIBITION ORDERS AGAINST TWO
   FORMER TRADING REPRESENTATIVES FOR FALSE TRADING
   
   Singapore, 25 April 2022… The Monetary Authority of Singapore (MAS) has
   imposed civil penalties on, and issued prohibition orders (POs) against two
   former trading representatives, Ms Ngin Kim Choo and Mr Yeo Jin Lui, for
   false trading. Both executed a client’s instructions to purchase KS Energy
   Ltd (KSE) shares for the...
   
   

View more


PUBLICATIONS

 * Economic Essays
   Published Date: 28 April 2022
   
   
   THE ROLES OF CENTRAL BANKS — EVOLUTION, OR DEMAND AND SUPPLY?
   
   This study by Danny Quah was published as Special Feature C in the April 2022
   Macroeconomic Review.
   
   
 * Economic Essays
   Published Date: 28 April 2022
   
   
   MACROECONOMIC MODELLING AT MAS
   
   This study by Chris Murphy was published as Special Feature B in the April
   2022 Macroeconomic Review.
   
   
 * Macroeconomic Reviews
   Published Date: 28 April 2022
   
   
   MACROECONOMIC REVIEW VOLUME XXI ISSUE 1, APR 2022
   
   The Macroeconomic Review provides an assessment of Singapore’s economic
   developments which formed the basis for MAS’ monetary policy decision in
   April 2022.
   
   

View more


OUR KEY FUNCTIONS

Promoting Economic Growth & Financial Stability

MONETARY POLICY

Find out about how MAS conducts Monetary Policy.



CENTRAL BANK OPERATIONS

Learn about the functions MAS performs as a Central Bank.



MACROPRUDENTIAL POLICY

Find out about MAS' approach to macroprudential policy.

Maintaining a Robust, Resilient & Trusted Financial Centre

REGULATION AND SUPERVISION

Find out about regulations under MAS and our approach to supervision.



ENFORCEMENT

View formal regulatory and enforcement actions taken by MAS for breaches of laws
and regulations.



ANTI-MONEY LAUNDERING

Find out more about MAS' regime to combat financial crime.

Developing an Innovative & Inclusive Financial Centre

FINTECH AND INNOVATION

Get the latest on our FinTech strategy and initiatives.



DEVELOPMENT

Find out about the support and grants available for the development of
Singapore's financial sector.



JOBS AND SKILLS

Learn about initiatives to develop expertise and grow the financial sector
talent pool.


ADVANCE RELEASE CALENDAR

MAS releases regular policy statements, publications and statistics on a
monthly, quarterly and semi-annual basis.

 View Advance Release Calendar


DIRECTORIES


FINANCIAL INSTITUTIONS DIRECTORY

The directory provides a list of financial institutions regulated by MAS and the
regulated activities they are authorised to provide.


REGISTER OF REPRESENTATIVES

The register provides a list of individuals who conduct activities regulated by
MAS.


INVESTOR ALERT LIST

The list includes persons unregulated by MAS who may have been wrongly perceived
as being licensed or authorised by MAS.


ENFORCEMENT ACTIONS

The list of formal regulatory and enforcement actions taken by MAS for breaches
of laws and regulations administered by MAS.


LISTS OF DESIGNATED INDIVIDUALS AND ENTITIES

Access UN lists of designated individuals and entities for anti-money laundering
and countering the financing of terrorism.




OUR RELATED SITES





MONETARY AUTHORITY OF SINGAPORE


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© 2022, Government of Singapore.Last updated on 28 Apr 2022


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