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The updated roadmap will also include a S$400mn fund to build workforce competencies in growth areas, develop leaders through international exposure, and more.
Singapore's Deputy Prime Minister and Minister for Finance, and Monetary Authority of Singapore (MAS) Deputy Chairman Lawrence Wong, launched the Financial Services Industry Transformation Map (ITM) 2025 on Thursday (15 September 2025).
The ITM 2025 lays out the growth strategies to further develop Singapore as a "leading international financial centre in Asia – to connect global markets, support Asia’s development, and serve Singapore’s economy," the Monetary Authority of Singapore (MAS) said following the launch.
Under this ITM, MAS projects the financial sector to grow by an average of 4% to 5% per annum between 2021-2025, and create 3,000-4,000 net jobs on average each year.
The ITM 2025 comprises five key strategies, as follows:
- Enhance asset class strengths;
- Digitalise financial infrastructure;
- Catalyse Asia’s net-zero transition;
- Shape the future of financial networks, and
- Foster a skilled and adaptable workforce.
On 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.
Additionally, the S$400mn Financial Sector Development Fund will provide grant funding to the Talent and Leaders in Finance programme in the period of 2021-2025, to enable industry professionals to take up good jobs and advance in their careers. This will help:
- Build workforce competencies in growth areas and provide training support for finance professionals at different stages of their careers;
- Develop specialist talent in areas such as sustainability and technology, and
- Develop leaders through opportunities to acquire expertise, international exposure, and networks to help them succeed in their leadership roles.
Full details on what each strategy entails can be found on MAS' website.
In a Facebook post, DPM Wong shared that since the ITM was introduced five years ago, over 20,000 net jobs were created in financial services, with most of them taken by Singaporeans.
Looking at the 2025 edition of the ITM, he said: "I am confident the revised ITM will enable Singapore to develop further as an international financial centre in Asia - and this will, in turn, create many more opportunities and good jobs for Singaporeans in the years to come."
Image / DPM Lawrence Wong's Facebook (MOF Photos by Fandy Razak)
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