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On 24 March the EuroCham Financial Services Committee is organising a Closed Door Meeting with MAS Deputy Managing Director, Mr Leong Sing Chiong.


The Financial Services Committee will hold a closed door meeting with the Monetary Authority of Singapore (MAS) Deputy Managing Director – Mr Leong Sing Chiong to discuss challenges and MAS priorities in the following fields:

  • Cross-Border Payments Now and into the Future

Innovation in the payments industry continues to transform in line with the end-user expectations for smarter, safer, faster, and cheaper payments.  Central banks are evaluating and/or deploying new digital settlement solutions, including faster payment systems and central bank digital currencies.  The ecosystem continues to proliferate with diverse providers.  Banks continue to accelerate their digital transformation, with new business models emerging.   What does the future of cross-border payments look like for banks, market infrastructures and the non-banks?

  • The Impact of Automation on Singapore as a financial hub:

Most banks have concluded that technology developments are shifting the nature of job roles in the financial services industry as robotic process automation, advanced analytics and artificial intelligence are expected make numerous job functions redundant over the next few years. What is the MAS vision on the impact it will have on the local job market and employment passes?

  • The future of Green finance in Singapore

In the light of the growing focus on sustainability it is only natural that there is an increased focus on Green Finance as well. Green Finance is growing not only in Singapore but in the entire region. Green Finance is becoming a high priority for the Singapore Government which has started a range of new initiatives such as a Green Finance Action Plan and a Green Investment Programme. How does MAS propose to further evolve Green Finance in Singapore? How do they plan to address key challenges such as greenwashing, data, benchmarking & verification as well as the misalignment between supply & demand. What is the view on the role of ESG reporting and how to ensure investors are considering climate and environmental risk.


9.00 am Registration & Networking Coffee
9.30 am Venue host welcome
9.35 am Opening Remarks by Mr Carl van der Elst, Financial Services Committee EuroCham
9:50 am Keynote address by Mr Leong Sing Chiong, Deputy Managing Director (Markets and Development), MAS
10.05 am Dialogue with Mr Leong Sing Chiong, moderated by Mr Federio Donato
10:55 am Closing Remarks by Mr Carl van der Elst, Financial Services Committee EuroCham
11.00 am End of programme


Keynote address:

Mr Leong Sing Chiong, Deputy Managing Director (Markets and Development), MAS

Mr Leong Sing Chiong is the Deputy Managing Director of the Markets and Development Group. He oversees the Markets & Investment, Development & International, as well as the FinTech & Innovation Groups. Prior to this appointment, Mr Leong was the Assistant Managing Director for the Markets and Investment, and Development and International functions. Mr Leong also served as Executive Director of the Financial Centre Development Department (2010-2013), and spent six years with the International Department (2004-2010).

Mr Leong began his MAS career with the Reserves Management Department in 1993 and served as Staff Assistant to the Managing Director from 1997-1998. In 1999, he joined the Monetary Management Division and was appointed Chief Representative of MAS’ London Representative Office from 2002-2004. Mr Leong is a recipient of the Public Administration Medal (Silver). He holds a B.Sc Economics (Monetary Economics) from the London School of Economics.



Mr Carl van der Elst
Deutsche Bank AG, Singapore Branch

Carl is within Deutsche Bank responsible for the coverage of the European multinational clients active in the Asia Pacific region. Originally from Holland, Carl has lived in Asia for more than 20 years, with the majority of his time spent in China. Carl joined Deutsche Bank in Beijing in 2008 after previously working at Credit Suisse and ING. Carl has a Masters in Law from Leiden University and a MBA from UC Berkeley. Carl is fluent in Dutch, English and German while conversant in French and Mandarin.




The meeting is only for members of the Financial Services Committee. If you would like to join please reach out to Ms. Anna Odlen, anna@eurocham.org.sg