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Singapore’s fintech landscape is thriving, with innovative startups pushing the boundaries of financial services. Companies like Grab Financial, Nium, and M-DAQ are leading the charge with solutions that enhance accessibility, efficiency, and inclusivity in finance.
This new structure ties compensation and promotions to the specific responsibilities and performance of employees, moving away from the longstanding model where salaries rose with tenure.
With global palm oil prices already under pressure from increased supply and sluggish demand, the strengthening rupiah is squeezing profit margins further.
The current network separation rules, established in 2013, require financial firms to maintain a physical separation between internal and external networks to ensure security. However, this regulation has increasingly been viewed as an impediment to the adoption of cutting-edge digital services, particularly as cloud computing and AI technologies have become more integral to business operations.
The new strategy highlights the government’s recognition of the importance of financial education in empowering individuals and businesses to make informed decisions. By equipping citizens with the knowledge needed to navigate Islamic financial products, the initiative aims to enhance economic participation and support the development of a more inclusive financial system.