Monetary Authority of Singapore (MAS)

The city state takes a firm stance against money laundering while remaining welcoming towards legitimate businesses and investments.

MAS chief fintech officer Sopnendu Mohanty will relinquish his current role to join as GFTN's group CEO; GFTN will have four business lines including a startup fund.

The central bank also issued a reprimand to the investment manager’s CEO for failing to ensure the company’s compliance.

This project proved its technical feasibility through cross-border lending between Singapore and Malaysia.

The easing in global financial conditions is another factor for Singapore's sustained growth in 2024. The central bank kept the prevailing rate of appreciation of the $SNEER unchanged in October.

This comes following MTI’s advanced estimates of Singapore’s GDP released on Oct 14.

MAS says it expects Singapore’s full-year GDP to come in around the upper end of its 2% to 3% range, as previously forecasted.

All but three economists in a Bloomberg survey see no change to policy on Monday.

The suspension does not prevent Qoo10 from operating its e-commerce platform.

Unlike most of the world’s major central banks, MAS focuses on the value of the currency as its main policy tool.