Central Banking
George Johnson Print this page
The Monetary Authority of Singapore (MAS) on March 5 appointed a new deputy managing director of financial supervision, among several other changes to its management team.
Ho Hern Shin, who currently serves as an assistant managing director of banking and insurance, will become head of financial supervision when former chief Ong Chong Tee leaves.
Ong has been serving as deputy managing director at the Singaporean central bank for 16 years. Over that period he has overseen all four of the MAS’s
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Central Banking
Hong bao Print this page
The Monetary Authority of Singapore (MAS) is urging Singaporeans to use digital hong bao – monetary gifts given during holidays in Asia – in the coming Lunar New Year celebrations.
Adopting digital hong bao will help reduce queues for physical notes and is more environmentally friendly, the MAS said in a statement on January 11. The move could reduce the carbon emissions generated by the production of new notes for Lunar New Year, estimated to be around 330 tonnes each year.
“The adoption of e
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