SINGAPORE, May 5 — Financial institutions here are offering about 6,500 newly created jobs in 2021, with more than 90 per cent of them being permanent positions, Ravi Menon said.

The managing director of the Monetary Authority of Singapore (MAS) added that half of these jobs would be in technology and consumer banking.

Menon was giving an update on the outlook for the financial services sector during an online seminar organised for the industry on Tuesday (May 4).

He also said that more technology roles are being created, but not enough Singapore graduates have the requisite skills to fill them.

"This large mismatch between demand and supply of technology workers means two things. One, we have to continue to depend on foreigners to fill the growing vacancies for technology jobs over the next few years.

"Two, we need to build a strong local tech talent pipeline — as a collective effort involving individuals, financial institutions and the Government.”

Menon said that technology jobs continue to lead hiring demand this year, with 2,500 to 3,500 tech jobs likely to be created each year.

Out of the 6,500 newly created jobs: