In June 2015, TMS Academy, the integrated learning and knowledge arm of Temasek Management Services (TMS), and Singapore Management University (SMU) launched the Monetary Authority of Singapore (MAS)'s Asian Financial Leaders Programme (AFLP) at the Association of Banks in Singapore's annual dinner. Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam was the guest of honour and officially announced the inauguration of the AFLP. Mr Tharman said, "This programme will take advantage of Singapore's strong and expanding linkages in the region, including ASEAN, China and India, and aim to strengthen those links through leadership development. The AFLP is aimed at equipping finance professionals aspiring to C-suite roles with the knowledge and capabilities to operate effectively across diverse business, regulatory, and legal environments. Participants will be given the opportunity to learn from and interact with top policy-makers from the region and to also build networks with fellow financial sector leaders." Mr Tharman continued by saying the efforts to develop professional talent and skills in the financial industry are also aimed at developing a strong core of Singaporean leaders in the sector, and this will help define Singapore's continued success as a financial centre.
The AFLP spans 22 days over a one-year period. It leverages the strong design and execution expertise of TMS and SMU, and that of an external network of top-tier global partners who take participants through an impactful learning journey to both developed and emerging markets. Besides Singapore, participants attend sessions in China, Indonesia, Switzerland and the United States, at world-renowned institutions, including IMD, Tsinghua University and The Wharton School of the University of Pennsylvania, where they have the opportunity to interact with global thought leaders, eminent practitioners and regulators. Upon completion of the programme, participants receive three certificates – from TMS-SMU, IMD and Wharton. To find out more about the programme please click here.
According to the World Economic Forum's 2015 Annual Global Competitiveness Report, Singapore was one of the most consistent performers across economies, faring well in the 12 factors assessed in the study such as infrastructure, health and education, and technological readiness. Singapore kept its position as the world's second-most competitive economy, despite concerns over rising business costs, tighter labour policies and slowing growth. This is the fifth year running that Singapore has come in second behind Switzerland, which stayed in pole position.