Committee of Supply 2026 debate, Day 1: Chee Hong Tat on cash accessibility and insurance for persons with disabilities
Singapore’s goal is to build a cash-lite society, not a cashless one, even as digital payments gain popularity. This includes the possibility of making cash acceptance mandatory by law, though the impact on small businesses would have to be carefully considered. Deputy Chairman of the Monetary Authority of Singapore (MAS) Board of Directors Chee Hong Tat said this in parliament on Thursday (Feb 26). He also spoke about insurance accessibility for persons with disabilities. In the past three years, MAS received one complaint on the issue, against a total of eight in 2021 and 2022 - a positive development, said Mr Chee. MAS has reviewed all the cases and found no unfair underwriting practices.
Singapore’s goal is to build a cash-lite society, not a cashless one, even as digital payments gain popularity. This includes the possibility of making cash acceptance mandatory by law, though the impact on small businesses would have to be carefully considered. Deputy Chairman of the Monetary Authority of Singapore (MAS) Board of Directors Chee Hong Tat said this in parliament on Thursday (Feb 26). He also spoke about insurance accessibility for persons with disabilities. In the past three years, MAS received one complaint on the issue, against a total of eight in 2021 and 2022 - a positive development, said Mr Chee. MAS has reviewed all the cases and found no unfair underwriting practices.
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