Monetary Authority of Singapore

Sustainable Finance

Financial Viability Biggest Challenge in Coal Phase-Out: SIEW Panel

By Ranamita Chakraborty | 24/10/2023

Collaboration and transition credits could be key in addressing the financial viability of coal phase-out, said panellists at the Singapore International Energy Week Summit.

Operational Risk

Singapore’s DBS Experiences Digital Payment Service Disruption

By Editors | 21/10/2023

The 20 October disruption to the bank’s PayLah service came less than a week after a weekend outage that lasted more than 12 hours.

Conduct, Culture & Accountability

MAS Bans Former AXA and Aviva Financial Advisers

By Editors | 20/10/2023

The former advisers were banned for allowing unlicensed individuals to perform financial advisory services on their behalf.

Payments & Settlements

India to Add More Banks to Singapore Payments Linkage – Report

By Sanday Chongo Kabange | 19/10/2023

India and Singapore are planning to expand the number of Indian banks participating in the PayNow-UPI linkage launched in February.

Operational Risk

MAS Instructs DBS, Citi to Investigate Delayed Recovery from Outage

By Editors | 19/10/2023

The banks took longer than the required four hours to recover from last Saturday’s outage. MAS said it will take appropriate supervisory actions after gathering the necessary facts.

Cloud & Infrastructure

MAS to Cooperate with Saudi Central Bank on Fintech

By Editors | 19/10/2023

MAS and SAMA will enable cooperation between their innovation departments and share information regarding fintech.

Climate Risk

MAS Issues Net Zero Transition Planning Guidelines for FIs

By Manesh Samtani | 19/10/2023

Banks, insurers, and asset managers must “actively support” borrowers, insured parties, and investee companies to progressively decarbonise.

Anti-Money Laundering

MAS to Commence Bank AML Inspections Within Weeks – Report

By Editors | 18/10/2023

The inspections will target banks whose clients were among those charged in Singapore’s S$2.8bn money laundering case.

Sustainable Finance

MAS Asks Firms to Pilot Transactions in “Transition Credits”

By Mark Johnston | 17/10/2023

Ravi Menon is seeking support from the industry to help develop transition credits that can be used to reduce the economic gap from retiring coal plants early.