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"In this new and changing environment, Singaporeans need to become more self-reliant in their financial affairs. They must acquire the knowledge and skills to manage their day-to-day finances, make prudent investments and plan for their longer-term needs."
- Deputy Prime Minister and Chairman of the Monetary Authority of Singapore, Mr. Lee Hsien Loong in a parliamentary address on 16 October 2003.
This section contains financial news previously posted on our "Latest News" page. Read and learn more on what you may have missed out on.
14 December 2003 - Speech by Dr Yaacob Ibrahim, Minister for Community Development and Sports and MP for Jalan Besar GRC, at the MoneySENSE Seminar 'Protecting Yourself With Life Insurance' organized by the Life Insurance Association of Singapore and the Central Singapore Community Development Council (PDF, 135KB)
In his speech, Dr Yaacob Ibrahim stressed the importance of financial planning, especially for the less well-off who have to decide how their limited income should serve them for now and into the future. While life insurance was an important element in financial planning, he warned that insurance policies alone could not provide for all our retirement needs. He urged participants to do a personal health check of their current financial situation, consider their long term needs, and shop around before buying any insurance policy or financial product.
14 December 2003 - Joint media release by the Life Insurance Association of Singapore and the Central Singapore Community Development Council: First MoneySENSE Seminar on basics of life insurance draws encouraging public response (PDF, 132KB)
The first MoneySENSE public seminar on the basics of life insurance has received an encouraging response from the public. The Life Insurance Association of Singapore said plans are underway to organise more seminars in 2004.
14 November 2003 - Keynote speech by Mr John Palmer, Deputy Managing Director (Prudential Supervision) of Monetary Authority of Singapore, at the Credit Bureau Conference 2003 on "Data-Driven Strategies: A New Frontier"
In his speech at the first anniversary of the founding of the Credit Bureau (Singapore) Pte Ltd , MAS Deputy MD Mr John Palmer urged banks and the Credit Bureau to put in place appropriate safeguards to ensure that confidential customer information is not misused and that data submitted to the Credit Bureau is accurate. He also asked banks to avoid marketing unsecured credit facilities to consumers who do not have the ability to service their debts, and encouraged banks to work with MAS and the Association of Banks in Singapore to produce more educational materials for consumers.
16 October 2003 - Media release: Singapore unveils "MoneySENSE" - a national financial education programme for consumers
Deputy Prime Minister Lee Hsien Loong's reply to Parliamentary Question on Financial Education.
Fact Sheet 1: What MoneySENSE aims to do (PDF, 18.1KB)
Fact Sheet 2: What MoneySENSE will offer in the year ahead (PDF, 12.6KB)
Fact Sheet 3: MoneySENSE logo (PDF, 33.7KB)
Fact Sheet 4: Financial Education Steering Committee (PDF, 10.7KB)
Fact Sheet 5: MAS "For The Consumer" Portal (PDF, 13.0KB)
Fact Sheet 6: First interactive skit planned (PDF, 14.4KB)
Fact Sheet 7: Other activities under MoneySENSE (PDF, 20.7KB)
5 October 2003 - Keynote Address by Acting Minister for Education, Mr. Tharman Shanmugaratnam, at a Financial Planning Seminar Organised by OLI 96.8FM, "The Importance of Planning Your Financial Future"
In his speech, Acting Minister for Education, Mr. Tharman Shanmugaratnam, encouraged Singaporeans to develop good money management habits and stressed the importance of planning for the future. He highlighted 3 goals as important priorities for Singaporeans - looking long-term, practising better money management on a daily basis, and investing wisely to grow savings.
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