Singapore’s central bank and financial authority, the Monetary Authority of Singapore, must balance fintech disruption with a safe regulatory environment. Chief fintech officer Sopnendu Mohanty talks to Joy Macknight about walking the tightrope to innovation.
As the wealth of Asia-Pacific's high-net-worth individuals continues to swell, so too does the size and reputation of the region's private banking industry. This is leading to speculation about whether its two main hubs – Singapore and Hong Kong – may be growing to such status that one day they will replace Switzerland as the global private banking capital.
The relatively small economies of Vietnam and Cambodia are punching above their weight in terms of growth in The Banker’s latest Association of South-east Asian Nations ranking. Meanwhile, Singapore’s banks retain their dominance in the ranking in terms of Tier 1 capital.
An ageing population and shrinking labour pool have put a strain on Singapore's economy, leading to calls for it to be restructured to raise productivity and bring about price stability. This will come through more productivity-led growth and a stronger focus on macroprudential policies.