Central Banking

MAS launches initiative to help payment firms with compliance

Monetary Authority of Singapore
George Johnson

The Monetary Authority of Singapore (MAS) has launched a two-month pilot initiative to ease payment firms’ access to legal services in Singapore, it said on September 6.

The Payments Regulatory Evaluation Programme (Prep) is a collaboration between the central bank and the Singapore Academy of Law, a body established to promote the country’s legal profession. Prep will enable the payments industry to connect with legal service providers.

“Instead of relying on informal referrals, Prep provides

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