The updated roadmap will also include a S$400 million fund to build workforce skills in growth areas, develop leaders through international exposure, and more.
that of Singapore Deputy Prime Minister and Minister of Finance and Deputy Chairman of the Monetary Authority of Singapore (MAS) Lawrence Wonglaunched on Thursday, September 15, 2025 the Financial Services Industry Transformation Map (ITM) 2025.
ITM 2025 lays out growth strategies to further develop Singapore as “Asia’s leading international financial center – to connect global markets, support Asia’s development and serve Singapore’s economy”, said the Monetary Authority of Singapore (MAS) after launch.
Under this ITM, the MAS forecasts an average growth of the financial sector of 4% to 5% per year between 2021 and 2025, and the creation of 3,000 to 4,000 net jobs on average each year.
IMT 2025 includes five key strategies, as follows:
- Improve the strengths of the asset class;
- Digitize financial infrastructure;
- Catalyze Asia’s Net Zero Transition;
- Shaping the future of financial networks, and
- Promote a skilled and adaptable workforce.
Regarding the fifth strategy, MAS said it will partner with the Institute of Banking & Finance (IBF) to work closely with the financial industry and tripartite partners, to foster a strong workforce.
In addition, the S$400 million Financial Sector Development Fund will provide grants to the Talents and Leaders in Finance program during the period 2021-2025, to enable professionals in the sector to get good jobs and progress in their career. It will help:
- Build workforce skills in growth areas and provide training support for finance professionals at different career stages;
- Develop specialist talent in areas such as sustainability and technology, and
- Develop leaders through opportunities to gain expertise, international exposure and networks to help them succeed in their leadership roles.
Full details on what each strategy entails can be found on the MAS website.
In a Facebook post, DPM Wong shared that since the ITM was introduced five years ago, more than 20,000 net jobs have been created in financial services, most of them filled by Singaporeans. .
Regarding the 2025 edition of the ITM, he said: “I am confident that the revised ITM will allow Singapore to develop further as an international financial center in Asia – and that, in turn, will create many more opportunities and good jobs for Singaporeans in the years to come.”
Image/Facebook of DPM Lawrence Wong (MOF Photos by Fandy Razak)
Follow us on Telegram and on Instagram @humanresourcesonline for all the latest HR and workforce news from across the region!