MAS says it plans to develop Singapore as a hub of wealth and FX

Monetary Authority of Singapore unveils growth plans 30 Oct

  • aims to create 4000 financial sector jobs
  • aims to achieve annual sector growth of 4.3%, faster than the overall economy

Singapore is currently the 3rd largest FX centre globall and the MAS is Singapore’s central bank but a lot more beside. Here’s its mission statement :

  • As Singapore’s central bank, the Monetary Authority of Singapore (MAS)
    promotes sustained, non-inflationary economic growth through appropriate
    monetary policy formulation and close macroeconomic surveillance of
    emerging trends and potential vulnerabilities. It manages Singapore’s
    exchange rate, foreign reserves and liquidity in the banking sector.
  • MAS
    is also an integrated supervisor overseeing all financial institutions
    in Singapore — banks, insurers, capital market intermediaries,
    financial advisors, and the stock exchange. With its mandate to foster a
    sound and progressive financial services sector in Singapore, MAS also
    helps shape Singapore’s financial industry by promoting a strong
    corporate governance framework and close adherence to international
    accounting standards. In addition, it spearheads retail investor
  • MAS ensures that Singapore’s financial industry remains
    vibrant, dynamic and competitive by working closely with other
    government agencies and financial institutions to develop and promote
    Singapore as a regional and international financial centre.

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