MAS nudges financial firms on local high-tech skills transfers

Singapore

THE Monetary Authority of Singapore (MAS) is drilling down to the local mix in technology units of financial institutions in Singapore to ensure skills transfer for high-end tech jobs, and has had "bespoke conversations" with financial institutions on their localisation plans at tech units.

The heightened effort also reflects that while technology is commonly blamed for reducing jobs, it has in fact created jobs in the financial sector here. The issue now is the lack of supply here.