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The Monetary Authority of Singapore or (MAS), is the central bank and financial regulatory authority of Singapore. It administers the various statutes pertaining to money, banking, insurance, securities and the financial sector in general, as well as currency issuance and manages the foreign-exchange reserves .
On 9 December 2024, ACRA launched a revamped version of its Bizfile portal. The portal provides the public with access to various registry filing and business information services. According to ACRA, the key features of the revamped portal included "user-centric design and intuitive navigation features", "enhanced data integrity and governance ...
The MAS Electronic Payment System, or MEPS in short, is an SGD-only online interbank payment and fund transfer system in Singapore. [1] It went online in July 1998, and is owned and operated by the Monetary Authority of Singapore (MAS). The irrevocable transfer of funds and the real-time nature of transfers are some of the key features of MEPS.
The member of the Cabinet heading the ministry is known as the minister, who is supported by a junior minister known as minister of state in Singapore. The administrative management of the ministry is led by a senior civil servant known as permanent secretary .
The Payment Services Act 2019 (PS Act) is a statute of the Parliament of Singapore that provides a framework for the regulation of payment systems and payment service providers in Singapore. [1] According to the Monetary Authority of Singapore (MAS) the PS Act provides for regulatory certainty and consumer safeguards, while encouraging ...
The statutory boards of the Government of Singapore are autonomous organisations that have been tasked to perform an operational function by legal statutes passed as Acts in the Parliament of Singapore. The statutes define the purpose, rights and powers of each authority.
In 1999 Citibank was among the first four foreign banks to be awarded the Qualifying Full Bank (QFB) license by the Monetary Authority of Singapore (MAS) in 1999. [ 4 ] In 2004 Citibank incorporated the consumer banking business locally, forming Citibank Singapore Limited (CSL), a wholly owned subsidiary of Citi, with a paid-up capital of S$1.5 ...
All asset management companies (AMC) in Singapore are being oversee by Monetary Authority of Singapore (MAS). [1] AMC is generally an asset management / investment management company / firm that invests the pooled funds of investors in securities in line with the stated investment objectives.