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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)
In June 2023, DBS was fined S$2.6 million by the Monetary Authority of Singapore (MAS) for breaching anti-money laundering and countering the financing of terrorism requirements, in a matter related to the German payments provider Wirecard scandal between July 2015 and February 2020, in relation to the accounts of 11 corporate customers. [52]
A soft loan [1] is a loan with a below-market rate of interest. This is also known as soft financing. Sometimes, soft loans provide other concessions to borrowers, such as long repayment periods or interest holidays. Soft loans are usually provided by governments to projects they think are worthwhile.
The most common government-backed small business loan with loan amounts of up to $5 million available. Money can be used for almost any purpose, including working capital, payroll, expansion and ...
Singapore's debts are under the responsibility of MAS. As of 2022, the Singapore Government debt exceeds the country's GDP at about 150%. However, these are not net debts, but gross external debts, which can be traced to the debt liabilities in Singapore's banking sector—a reflection of the country's stature as a major global financial hub.
Citibank Singapore's branch in MacDonald House, which is a national monument. In June 2004, Citibank announced that it would be incorporating a wholly owned subsidiary of Citigroup in Singapore, known as Citibank Singapore Limited, with a paid-up capital of S$1.5 billion. This move, which saw Citibank becoming the first foreign bank to do so ...
Private money is a commonly used term in banking and finance. It refers to lending money to a company or individual by a private individual or organization. While banks are traditional sources of financing for real estate, and other purposes, private money is offered by individuals or organizations and may have non traditional qualifying guidelines.
The first nation-wide farm loan waiver was implemented in 1990 by Janata Party government led by then Prime Minister V.P. Singh and cost the government Rs 10,000 crores. [2] A number of agitations by farmers have been held demanding loan waivers, and the political parties have capitulated or competed by announcing Loan waivers for farmers.