Fintech, Insurance Buoy Singapore

Original Source    2018-07-04 10:07

The fintech sector has fueled nearly one-quarter of new jobs in Singapore’s financial sector in the last two years. The life insurance industry saw double-digit growth in the same period. Singapore saw a net increase of 7,800 jobs in financial services and fintech over 2016 and 2017, according to a speech by Ravi Menon , head of the Monetary Authority of Singapore, or MAS. «Job growth was mainly driven by the insurance and fund management industries, and to a lesser extent by the banking industry. Fintech alone is estimated to have contributed close to 2,000 of the net jobs created during these two years,» said Menon at a media briefing on Wednesday. Singapore’s growth in financial services rebounded strongly to 4.9 percent last year, versus 1.8 percent in 2016. Exceeding Targets Under a four-year plan to redraw the finance industry, the government hopes to create close to…




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