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MAS rolls out S$125m package for financial institutions and fintechs

The bulk of this will go to training employees amid current economic slump

    Published Wed, Apr 8, 2020 · 09:50 PM

    Singapore

    THE Monetary Authority of Singapore (MAS) on Wednesday rolled out a S$125 million support package for financial institutions and fintech firms, the bulk of which will go to training employees amid the current economic slump.

    Funded by the Financial Sector Development Fund, about S$90 million will be channelled towards workforce training and manpower costs, and the remaining S$35 million, towards strengthening digitalisation and operational efforts, said the regulator in a statement.

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    Monetary Authority of SingaporeFinancial institutions

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