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There are a number of sectors in which banks may be involved. The general bank license allows a bank to engage in all banking activities, such as retail banking, merchant acquiring, cash management, asset management and trading. An applicant can apply for a limited banking license, such as an offshore banking license. [2]
Online Business Licensing Service (OBLS) is a one-stop portal for applying for the required Singapore government licences in a single online transaction. The service routes all applications to various government agency for processing. The World Bank has ranked Singapore first in the Ease of Doing Business Index. The OBLS system contributes to ...
There are three types of VDL: bus driver vocational licence, private hire car driver vocational license, and taxi driver vocational licence. To apply for the bus driver vocational licence, the applicant must have a Class 3 Singapore driving licence with at least one year's driving experience, a clean driving and criminal record and be at least ...
The requirements for the issue of a bank license vary between jurisdictions but typically include: Minimum capital; Minimum capital ratio 'Fit and Proper' requirements for the bank's controllers, owners, directors, or senior officers; Approval of the bank's business plan as being sufficiently prudent and plausible.
The Monetary Authority of Singapore or (MAS), is the central bank and financial regulatory authority of Singapore. It administers the various statutes pertaining to money, banking, insurance, securities and the financial sector in general, as well as currency issuance and manages the foreign-exchange reserves.
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This is a list of banks with operations in Singapore. Location of incorporation is provided in brackets for foreign banks. There are, at present over 150 banks and deposit-taking institutions, and 45 banks with representative offices in Singapore. (EFA=Exempt Financial Adviser; ACU=Asian Currency Unit; SGS=Singapore Government Securities Market)
Singapore authorities on Friday announced new measures to tackle money laundering, including inter-agency data-sharing, striking off of inactive companies and channels and programmes to get ...