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MAS puts fintechs on notice against shadow banking

MAS says law will be enacted to require mobile wallet operators to ringfence deposits and payments so they don't function as unregulated banks

Ravi Menon says the central bank wants to level the playing field between banks and fintechs from the perspective of risk, and calibrate the rules by the fintech's scale of operations.


EVEN as the Monetary Authority of Singapore (MAS) is welcoming of fintech players, it will draw a clear line to prevent shadow banking from emerging from payment startups.

In an exclusive interview, the managing director of MAS Ravi Menon told The Business Times that...

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