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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 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]
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.
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)
The licence, granted by the Monetary Authority of Singapore (MAS), will allow Ripple to provide regulated digital payment token services. It is one of 14 companies that are licensed to offer ...
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 ...
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.
[11]: 111 [13] Interest paid represents compensation for the use of the lender's money or property and thus represents profit or an accession to wealth to the lender. [11]: 111 Interest income can be attributed to lenders even if the lender does not charge a minimum amount of interest. [11]: 112