Monetary Authority of Singapore

Headlines · 3

1. 2d
   Singapore Q3 GDP grows 5.4% on AI boom, second only to Taiwan

   Singapore's advance estimates show third-quarter GDP rose 5.4% year on year, slower than the second quarter's 6.2% but still strong, with manufacturing up 7.5% and construction up 8.8% as data-centre building provided a key lift. The Economic Development Board says about 10% of the world's chips and roughly 20% of semiconductor equipment are made in Singapore, where semiconductors account for about 6% of GDP, with Micron, GlobalFoundries and UMC among the manufacturers based there. The Monetary Authority of Singapore said tech-related industries contributed about 75% of the quarter's year-on-year growth, and forecast that AI-related orders and capacity expansion will keep supporting growth for now while global AI-driven activity may cool towards the second half of 2027; it also warned that persistent inflation and high interest rates could weigh on consumption and investment. The IMF expects Singapore's full-year growth to reach 5%, behind only Taiwan among advanced economies.

   科技新报 · 🔥 3
2. 5d
   Ping An Bank board approves AI management measures 1.0

   According to a TMTPost fintech weekly, Ping An Bank's board approved the Ping An Bank Artificial Intelligence Management Measures (version 1.0, 2026) before China's National Day holiday, and the bank said the rules implement the National Financial Regulatory Administration's June guidance on AI for banking and insurance. The measures put oversight with the board's strategy committee and set full-lifecycle management of AI development, application and exit, covering data security, algorithmic risk, ethics review, accountability tracing and risk classification, under a "whoever uses it is responsible" principle; the bank says AI is used in risk management, customer service, operations and internal control, with more than 450 large-model application scenarios deployed as of end-June 2026, though the full text was not public when the report ran. The same weekly notes that Singapore's MAS published AI risk management guidelines for financial institutions on Oct. 7, with phased implementation from October 2027.

   钛媒体 · 🔥 0
3. Oct 8
   MAS issues AI risk guidelines holding banks accountable for third-party tools

   Singapore's Monetary Authority (MAS) issued AI risk management guidelines on Oct. 7, 2026 for banks, insurers, payment providers and other regulated financial institutions, saying they cannot outsource accountability for AI risks even when outside vendors build or run the systems. Implementation is phased: Sections 3 and 4 by Oct. 7, 2027, and Sections 5 and 6 by Oct. 7, 2028. MAS expects firms to obtain sufficient assurances from AI vendors, judge whether systems suit their intended use, and consider restricting, suspending or replacing a service if risks cannot be adequately managed.

   TechRepublic · 🔥 0

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