The Monetary Authority of Singapore (MAS) announced that it has received 21 applications for digital bank licences as at the close of application on 31 December 2019. This comprises 7 applications for the digital full bank (DFB) licences, and 14 applications for the...
With a view to confront a wave of money-laundering scandals within the banking industry, Europe’s finance leaders are recommending that a regional anti-money laundering agency be formed to fight and prevent such crimes. They are calling upon European...
Mr. Ravi Menon, Managing Director of the Monetary Authority of Singapore (MAS), said that MAS will probably announce new funding plans next year following positive results from the financial technology initiatives ending in March 2020. Possible areas for future...
The Monetary Authority of Singapore (MAS) announced that it will begin accepting applications for new digital bank licences. Interested parties have until 31 December 2019 to submit their applications. This follows the announcement in June 2019 by Mr Tharman...
The Payment Services Bill (PSB) is an Act to provide for the licensing and regulation of payment service providers, the oversight of payment systems, and connected matters. PSB was passed in Parliament on 14 January 2019 . The PSB act shall repeal the Payment Systems...
MAS has launched ‘Sandbox Express’ to provide firms with a faster option to market test some innovative financial products and services. Fundamentally, Sandbox Express shortens the approval process for firms to enter the Sandbox by relying on standard disclosures and...
