WMI and PBIG partners to fortify Singapore’s Philanthropy Hub

The partnership is supported by the Monetary Authority of Singapore (MAS).

Through the launch of the Impact Philanthropy Partnership (IPP), the Wealth Management Institute (WMI) and the Private Banking Industry Group (PBIG) hopes to strengthen the philanthropy ecosystem in Singapore.

“The IPP will convene thought leaders, changemakers and innovative philanthropists from Asia and around the world, to inspire a broader movement for more strategic and impactful giving," said Foo Mee Har, CEO of WMI.

Supported by MAS, the partnership entails producing events and research publications dedicated to awareness and momentum for philanthropy and incorporating venture philanthropy and impact investing.

"The IPP is an important initiative in line with MAS' vision for Singapore to become Asia's centre for Philanthropy. It will facilitate collaborations between like-minded families and individuals who are keen to utilise their wealth to be a force for good to address needs ranging from climate action and poverty alleviation to inclusive education and resilient healthcare,” Phua Wee Ling, Executive Director, Financial Centre Development Department of MAS said.

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During the partnership, WMI and PBIG will create a Social Impact Discovery Series. This key initiative aims to provide programmes with learning opportunities and thought leadership covering approach-related topics, and also cause-related topics focused on specific areas of need locally and regionally.

WMI will also take the lead in executing the events for the programmes and research.

PBIG recently incorporated the Philanthropy Advisory as a new Technical Skill and Competency (TSC) under the Institute of Banking and Finance Singapore Standards. This intends to show the importance of wealth advisors in advising clients on philanthropy.

The IPP also welcomes members from the Global-Asia Family Office Circle, PBIG, MAS and ecosystem partners.