SINGAPORE - Financial markets have a crucial role in driving innovation, energy transition and digitalisation, which together will help Singapore pull through current global uncertainties and face future challenges.
Speaking at the Asia Financial Markets Forum (AFMF) in Singapore on Wednesday, Senior Minister Tharman Shanmugaratnam said finance is critical to solving the broader challenges of economic development, especially in the current environment of soaring inflation, slowing growth and rising geopolitical tensions.
“We in Singapore are determined to play our part to connect global markets, to support and advance Asia’s continued development and the push toward sustainability in particular, ‘‘ he said in a pre-recorded special message at the annual event, held at Asian Civilisations Museum.
Mr Alvin Tan, Minister of State for Trade and Industry, said financial markets help drive innovation by allocating capital where the best outcomes are most likely.
Many companies in Sin
The Monetary Authority of Singapore is keeping an open mind on digital currencies and stablecoins but says they must go beyond illicit use and mere speculation.
(Bloomberg) Cryptocurrencies have a place in Singapore’s financial sector if these digital assets are regulated, according to the chairman of the nation’s central bank.