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Commercial banks in Singapore may undertake universal banking, such as the taking of deposits and the provision of cheque services and lending, as well any other business authorised by the Monetary Authority of Singapore, including financial advisory services, insurance brokering and capital market services, as long as they are permitted under section 30 of the Banking Act.
Direct lending is a form of corporate debt provision in which lenders other than banks make loans to companies without intermediaries such as an investment bank, a broker or a private equity firm. In direct lending, the borrowers are usually smaller or mid-sized companies, also called mid-market or small and medium enterprises , rather than ...
Bank of Singapore is the private banking arm and a wholly owned subsidiary of Oversea-Chinese Banking Corporation (OCBC), Southeast Asia’s second largest bank.. Formerly known as ING Asia Private Bank, it was acquired by OCBC in 2009 from ING Group for US$1.46 billion. [3]
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 .
Direct banks eliminate the costs of maintaining a branch network while offering convenience to customers who prefer digital technology. Direct banks provide some but not all of the services offered by physical banks. [1] [2] Direct bank transactions are conducted entirely online. Direct banks are not the same as "online banking". Online banking ...
When you buy a big-ticket item like a car or make a large payment, such as a down payment on a house, you may be asked to pay with a cashier's check or certified check. These checks are less ...
In Singapore, Accredited Investor is defined in Section 4A(1)(a) of the Securities and Futures Act (SFA), Chapter 289. [13] NET Personal assets exceeding $2 million (or equivalent in foreign currency). Or; Income in preceding 12 months of not less than $300,000 (or equivalent in foreign currency). Or
Cashier’s check. Certified check. Cost per item. $5 to $15. $15 to $20. Availability. Can be purchased at a bank or credit union, online or in person. Can be purchased at a bank or credit union ...