Singapore announces roadmap for financial industry transformation

 The Monetary Authority of Singapore (MAS) released its roadmap to transform the local financial services industry on October 30.

Singaporean Education Minister Ong Ye Kung ​speaks at the launch of the financial services industry transformation on Oct 30, 2017. (Photo: MAS)

Singaporean Education Minister Ong Ye Kung ​speaks at the launch of the financial services industry transformation on Oct 30, 2017. (Photo: MAS)

Education Minister and member of MAS board of directors Ong Ye Kung said the industry transformation (ITM) is targeting the generation of 3,000 net jobs in financial services annually, with another 1,000 in fintech alone.

The ITM also aims to achieve an annual growth of 4.3 percent in the sector’s real added value and 2.4 percent in its productivity.

Ong said Singapore is striving to become a leading wealth management hub in Asia by working with partner agencies to improve the local management of financial services and training of financial professionals. BY VIETNAMPLUS.

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