SINGAPORE - A $2 billion boost to a fund for developing the financial sector announced in Budget 2024 will give Singapore’s central bank a stronger hand to capture new opportunities in sustainability, artificial intelligence, technology and innovation. The Monetary Authority of Singapore (MAS) also said the top-up to the Financial Sector Development Fund (FSDF) would give it more resources to “anchor” capabilities across banking, capital markets, asset management and insurance. For the financial year ended March 31, 2023, the FSDF had total net assets worth $1.08 billion and disbursed $235 million in grants. A spokeswoman for the MAS said in response to queries from The Straits Times: “The top-up will enable MAS and the Institute of Banking and Finance to step up our talent development initiatives, upskill Singaporeans and equip the workforce to take on these opportunities. This will help strengthen the competitiveness of our financial centre and create good jobs for locals.”   https://www.straitstimes.com/business/financial-sector-development-fund-top-up-will-fuel-pursuit-of-new-opportunities-in-ai-and-more-mas   (ICE SINGAPORE)

Fonte notizia: The Straits Times, 24 March 2024