Singapore

October 1, 2021

Singapore: MAS to roll out platform requiring information-sharing among banks in 2023 to fight money laundering

TO purge crooks who are moving dirty money through Singapore’s financial institutions, the Republic’s central bank is introducing a digital platform that will require financial institutions to securely share information on suspicious customers or transactions. Dubbed Cosmic (Collaborative Sharing of Money Laundering and Terrorism Financing Information and Cases), the new platform to be rolled out from […]

October 1, 2021

Singapore’s central bank to launch new digital platform to fight illicit banking transactions

SINGAPORE – Singapore will be armed with a new digital layer of security by 2023 against financial transactions intended to fund criminal and terrorist activities and the development of weapons of mass destruction. The Monetary Authority of Singapore (MAS), which regulates one of the most trusted and secure financial hubs, announced on Friday (Oct 1) that […]

October 1, 2021

Singapore private home prices up 0.9% in Q3, rising for 6th straight quarter: Flash data

SINGAPORE – Private home prices in Singapore climbed for the sixth straight quarter at a continued moderate pace, driven largely by the gains in landed properties. The 0.9 per cent price gain in the third quarter follows an increase of 0.8 per cent in the second quarter, and a 3.3 per cent rise in the first quarter, […]

October 1, 2021

Singapore: MAS grants crypto licences to DBS unit and Australian exchange; more licences expected to be issued

SINGAPORE – DBS Vickers on Friday (Oct 1) secured a Singapore licence to offer digital payment token services, while Australian cryptocurrency exchange Independent Reserve became the first foreign entity to be granted one. Examples of digital payment tokens are cryptocurrencies like Bitcoin, ether and litecoin. Industry observers expect more such licences under the Payment Services Act […]

September 30, 2021

Singapore: MAS seen on hold as Covid-19 pandemic drags on: Reuters poll

[SINGAPORE] Singapore’s central bank is expected to leave monetary policy on hold at its October review, analysts say, as highly transmissible coronavirus variants spread locally and across the world, threatening the pace of economic recovery. All 11 economists in a Reuters poll this week expect the Monetary Authority of Singapore (MAS) to keep its exchange-rate […]

September 30, 2021

MAS seen leaving Singdollar policy on hold amid Delta variant surge

SINGAPORE (REUTERS) – Singapore’s central bank is expected to leave monetary policy on hold at its October review, analysts say, as the highly transmissible Covid-19 Delta variant spreads locally and across the world, threatening the pace of economic recovery. All 11 economists in a Reuters poll this week expect the Monetary Authority of Singapore (MAS) […]

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