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IBF lauded for bolstering Singapore's financial landscape

Singapore's Deputy Prime Minister Heng Swee Keat celebrated the advancement and contributions of the Institute of Banking and Finance (IBF) in bolstering the nation's financial landscape. At the IBF Distinction Eventing, Heng emphasised the pivotal role of the financial sector in fueling the real economy, drawing upon his experiences from previous global crises. Today, the financial sector accounts for 14% of Singapore's GDP, employing about 5% of the total labour force. From 2020-2022, the sector saw a growth rate of 5.2% and generated 5,700 jobs annually. Heng also spotlighted three defining areas for future development: green sustainability, digital transformation, and philanthropy. The evening also recognised various stakeholders and industry leaders for their contributions.


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