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MAS launches $125 mil package for financial institutions and fintech firms

Samantha Chiew
Samantha Chiew4/8/2020 04:26 PM GMT+08  • 4 min read
MAS launches $125 mil package for financial institutions and fintech firms
MAS launches a $125 mil support package to help local financial institutions and fintech firms
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SINGAPORE (Apr 8): The Monetary Authority of Singapore (MAS) has today launched a $125 million support package to sustain and strengthen capabilities for local financial institutions (FIs) and FinTech firms amid the current economic slump.

This support package aims to help position the forms for stronger growth when the threat of Covid-19 recedes and economic activity normalises.

The support package, funded by the Financial Sector Development Fund, has three main components: supporting workforce training and manpower costs; strengthening digitalisation and operational resilience; and enhancing FinTech firms’ access to digital platforms and tools.

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