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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 .
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.
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 ...
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$1.5 ...
The Payment Services Act 2019 (PS Act) is a statute of the Parliament of Singapore that provides a framework for the regulation of payment systems and payment service providers in Singapore. [1] According to the Monetary Authority of Singapore (MAS) the PS Act provides for regulatory certainty and consumer safeguards, while encouraging ...
Enacted on 17 June 1960, the Prevention of Corruption Act (PCA) is the primary anti-corruption law in Singapore. The following are provided for under the PCA: [6] Powers for the CPIB to investigate bribery in all forms, both monetary and non-monetary in nature, and in both the public and private sectors;
Menon was educated at Raffles Institution before graduating from the National University of Singapore in 1987 with a Bachelor of Social Sciences degree in economics. [1] [2]In 1993, he went on to obtain a Master of Public Administration degree from the Harvard Kennedy School under a scholarship awarded by the Monetary Authority of Singapore (MAS).
The currency of Singapore is the Singapore dollar (SGD or S$), issued by the Monetary Authority of Singapore (MAS). [268] It has been interchangeable with the Brunei dollar at par value since 1967. [269] MAS manages its monetary policy by allowing the Singapore dollar exchange rate to rise or fall within an