Day: January 17, 2021


A financial market is a market by which people commerce monetary securities and derivatives at low transaction prices Some of the securities embrace shares and bonds , and precious metals. Banking system has been instrumental within the growth of World Financial system. When banks provide loans & related products at a decrease rate of interest, it enhances the expansion prospects of the financial system and vice-versa. But in the strategy of aiming higher targets and earnings, many a times banks end up giving loans to the defaulters who not solely flip dangerous but in addition let the bankers enormous losses. During 2005-2007, lendings all around the world grew quickly mainly on account of hike in real property prices. And banks even sanctioned loans to sub-commonplace debtors. Interest rates charged had been very excessive and finally the real property bubble burst out. This created enormous liquidity crunch and steep rise in …

MAS appoints new deputy managing director, Government & Economy

Thu, Jan 14, 2021 – 4:39 PM

THE Monetary Authority of Singapore (MAS) on Thursday announced the appointment of Leong Sing Chiong as deputy managing director (Markets & Development).

The appointment takes effect on Feb 1, 2021.

Mr Leong, 51, will oversee the Markets and Investment Group, which conducts money-market and foreign-exchange operations, issues Singapore government securities and manages Singapore’s official foreign reserves.

He will also have oversight of MAS’ Fintech and Innovation Group, as well as the Development and International Group, which promotes Singapore as an international financial centre.

He takes over from Jacqueline Loh, deputy managing director (Markets & Development and Corporate Development). MAS said that Ms Loh will remain as deputy managing director for Corporate Development, and Mr Leong will also continue in his current role as assistant managing director for Markets & Investment, until a successor is appointed.

Mr Leong began