With Generative AI rapidly entering finance, Singapore's central bank has proposed rules to ensure institutions manage the risks and use the tech responsibly.

The Monetary Authority of Singapore (MAS) on Thursday issued a consultation paper proposing guidelines on AI risk management, designed to help financial institutions (FIs) manage risks tied to the increasing use of AI across the sector. The guidelines build on MAS’ 2024 supervisory review of AI use  The proposed guidelines will apply to all FIs, outlining MAS’ supervisory expectations on how firms should oversee AI systems, establish internal risk frameworks and maintain acc