Monetary Authority of Singapore

Fund transfers from India to Singapore will only need mobile phone numbers.

Former chief sustainability officer of Thai Union Group is the head of MAS' new group.

The BIS Innovation Hub’s Singapore centre will lead the project.

It will take place from 8 to 12 November as a hybrid event.

Called Project Nexus, the blueprint outlines how countries can integrate their retail payment systems onto a single cross-border network.

Local financial firms are expected to remain resilient even should the economy slip into a recession again.

The sector will continue in a “reform and transform” path, hinging on successful digital banking applicants.

It simulated cross-border transactions involving multiple CBDCs on a common network.

Since being launched in April 2020 it has disbursed S$13.3b to FIs in support.

They failed to properly monitor individuals onboarded as advisors, directors.