Monetary Authority of Singapore

Appointed cross-currency dealers can settle bilateral transactions in rupiah and Singdollar

The funds are for the fourth tranche of the Financial Sector Technology and Innovation scheme over three years

Latest measures are welcomed but questions remain over eligibility, tax treatment and implementation

The next test lies not just in how much money it attracts, but whether it can produce the people and firms to manage it

Cultivating local funds and talent pool entrenches the decision-makers who truly drive capital here

Singapore and Hong Kong each boast asset management industries worth more than US$5 trillion

Analysts say MAS’ announcement is timely and sends a ‘strong signal’ of Singapore’s drive to grow the sector

Measures comprise new tax-exemption scheme, hedge fund investment programme, initiative to attract foreign talent

Complex source-of-wealth checks can take months, but banks say straightforward cases take much less time