Monetary Authority of Singapore (MAS)

MAS kicked off Finance Day at the #COP29SGPavilion today. Mr Leong Sing Chiong, Deputy Managing Director (Markets & Development), MAS, shared on Singapore’s contributions to climate action on two fronts: (i) accelerating the energy transition through innovative solutions in blended finance and carbon markets; and (ii) putting in place enablers to strengthen financing flows across borders and segments of the economy. He also emphasised the importance of collaboration in scaling solutions and impact. The International Platform on Sustainable Finance (IPSF) also presented the Multi-Jurisdiction Common Ground Taxonomy (M-CGT) today, jointly developed by the People’s Bank of China (PBOC), the European Union Directorate-General for Financial Stability, Financial Services and Capital Markets Union (FISMA), and MAS. The M-CGT builds on the bilateral EU-China Common Ground Taxonomy (CGT) published in June 2022, and incorporates the mapping of the Singapore-Asia Taxonomy (SAT), enhancing the interoperability of taxonomies across EU, China and Singapore. Covering 110 green activities that contribute to the climate change mitigation objective across eight focus sectors, the M-CGT shows some degree of comparability at around 65% in green activities across the three taxonomies. This suggests that green finance instruments referencing the M-CGT can be considered by investors and financial institutions in these three jurisdictions, subject to local laws and regulations. The M-CGT serves as a common baseline for market participants to refer to in defining green activities, enabling cross border financing in the markets that the respective taxonomies serve. Read Mr Leong Sing Chiong’s speech here: https://lnkd.in/gi7-Vaw8 Media release on the M-CGT: https://lnkd.in/gRr5e_hd #COP29SGPavilion #COP29 #COP29Azerbaijan

The ninth edition of the Singapore FinTech Festival concluded successfully on 8 November with 65,000 participants from 134 countries and regions 🌏 in attendance. The SFF organising team expresses sincere appreciation to all sponsors, speakers, partners and attendees who contributed to SFF 2024’s success. SFF 2025 marks the Festival’s 10th anniversary. Join us from 12 to 14 November 2025 for this milestone event and to celebrate a decade of growth and innovation in #FinTech! We look forward to welcoming and bringing together the global policy, finance and tech community next year, to continue driving meaningful progress and collaboration for decades ahead. The Insights Forum will continue as a two-day event, from 10 to 11 November 2025. GFTN Constellar #SFF2024 #SGFinTechFest #SFF Read more here: https://lnkd.in/gWSQ9HnG

The Singapore Government 🇸🇬 has committed up to US$500 million in concessional funding to support the Financing Asia’s Transition Partnership (FAST-P) that was launched by MAS last year. FAST-P has also established a new Industrial Transformation infrastructure debt programme, in addition to the Energy Transition Acceleration Finance partnership and Green Investments partnership that were announced at COP28, and engaged managers to implement these three pillars. Read the media releases here: https://lnkd.in/gsc62z3t https://lnkd.in/gC8WB7TU

MAS has announced new green finance and capital markets initiatives to strengthen financial cooperation with China. The initiatives were announced at the 20th Joint Council for Bilateral Cooperation meeting in Singapore, which was co-chaired by Singapore Deputy Prime Minister, Mr Gan Kim Yong, and People’s Republic of China Vice Premier of the State Council, Mr Ding Xuexiang. Read about the initiatives here: https://lnkd.in/g4UF86Db

#ICYMI: Earlier this week on Day 2 of the Singapore FinTech Festival, MD Chia Der Jiun shared MAS’ vision for the future of FinTech, anchored on community, collaboration, and capabilities. MAS is committed to partnering with industry leaders, regulators, and policymakers to drive growth and address key challenges in the finance sector, and we look forward to building a thriving FinTech community in Singapore and beyond. Thank you again to all the partners, speakers, and attendees for the amazing week at #SFF2024, and we hope to see you again next year!

And that’s a wrap! 🎉 What an incredible time we had at the week-long Singapore FinTech Festival and Insights Forum! MAS fielded 19 speakers and moderators across 459 engaging sessions – from panel discussions and roundtable sessions to fireside chats and keynote speeches – each one contributing thought leadership, valuable insights, and inspiring discussions. A huge #thankyou to our speakers, sponsors, as well as everyone who attended and connected. It is inspiring to see like-minded individuals pushing the boundaries in #FinTech, #AI and #QuantumTechnology. It has been rewarding to see the energy, collaboration and innovation unfold. This couldn’t have been possible without the strong partnership of our co-organisers Global Finance & Technology Network (GFTN) and Constellar. We are looking forward to the 10th edition of the Singapore FinTech Festival in November 2025! #SFF2024 #SGFinTechFest #SFF Sing Chiong Leong | Sopnendu Mohanty | Kenneth Gay | Alan Lim | Alvin Singh | Jo Yeo | Lionel Wong | Gillian Koh Tan | Eugene Goh | Vincent Pek | Aimee Chiuten | Xuchun Li | Simin Liu | Abigail E. Ng | Harry Lee | Kian Sin Koh

At the fireside chat held on 7 November, MAS MD Chia Der Jiun said that he was looking forward to visiting the booths at the Singapore FinTech Festival, to get a feel of the latest ideas, and to see what people are pushing for and dreaming of. Take a look at some of our snaps from his tour of the booths, together with Bank of Thailand Governor, Dr Sethaput Suthiwartnarueput who also spoke at the festival. For more info on the festival: https://lnkd.in/emZ8Tmr

MAS and the Singapore FinTech Association (SFA) have announced the winners of the Global FinTech Hackcelerator and the Singapore FinTech Festival (SFF) FinTech Excellence Awards at SFF 2024. The winners, comprising financial institutions, FinTechs, solution providers and individuals, were recognised for their innovative solutions and efforts in unlocking key opportunities within the financial services industry. Read more here: https://lnkd.in/gpFH8SqA

MAS MD Chia Der Jiun participated in a fireside chat at the Singapore FinTech Festival earlier today, to share his perspectives on key developments shaping the financial sector. When asked about MAS’ vision of the FinTech sector, MD cited community, collaboration and capabilities as being key to this. MD also spoke on developments in global payments, asset tokenisation, AI, quantum and sustainability. #SingaporeFinTechFestival For more on MD’s speech: https://lnkd.in/g5aCJ4sN For the full video: https://lnkd.in/gixWYCCJ

This afternoon at #SFF2024, 18 finalists representing Australia, Bangladesh, China, Hong Kong, India, Indonesia, Kenya, Nigeria, the Philippines, Singapore, South Korea and the United States took centre stage at the Global FinTech Hackcelerator Demo Day! Themed “Improving Financial Health” and aimed at advancing the development of suitable financial products, the Hackcelerator saw each finalist pitch their solution designed to foster financial resilience and empower individuals and businesses worldwide. A huge congratulations to all finalists on the innovative proposals presented this afternoon. The winners will be revealed at the SFF FinTech Excellence Awards 2024 dinner on 7 November 2024, so stay tuned! #SingaporeFinTechFestival