Financial Services
Bank loans skid for fourth straight month in June
Total loans fell 1% YoY, the first since 2016.
ABS, SFEMC, SC-STS launch consultation paper on SIBOR to SORA transition
It aims to make SORA the main interest rate benchmark for SGD financial markets.
MAS extends $82.49b swap arrangement with the US Federal Reserve
The MAS USD Facility offers up to $82.49b of funding to banks.
MAS asks local banks to limit FY2020 dividends
Lenders are called to cap their DPS at 60% of FY2019’s DPS.
Aspire, TransferWise unveils cross-border money transfer service
Businesses using Aspire will now be able to transfer money easily across borders.
Singapore is top pick of financial firms planning to leave Hong Kong: report
Tokyo, Sydney, Taiwan, and South Korea are vying to benefit from Hong Kong's woes.
MAS revokes licence of Apical Asset Management due to serious breaches of law
The regulator also reprimanded the firm's CEO and director Yeh Yin Yee and Bernard Cheok Yin.
SingSaver, Allianz partner for free online banking insurance
The plan protects against fraudulent transactions and device theft.
Reimagining the future of work and the new normal
Singapore is gradually reopening its economy after two months of lockdown, but some of the jobs lost may never return as companies adapt to a “new...
Financial companies start to increase hiring as Singapore returns from the Circuit Breaker
As with all industries, the financial services sector has been rocked by the COVID-19 pandemic. Globally, we are beginning to see what shape the...
MAS, IBF launch skills map for family office advisors
It aims to deepen advisors’ skills, such as in wealth planning.
Singapore banks to post record low NIMs in Q2
They are expected to pencil in 16-22bps decline, with every 10bps having a 6-8% impact on net profit.
Razer's digital bank proposition aims to dazzle the global youth
The consortium is going big with its dream of meeting the underserved youth’s financial needs globally.
MAS fines trust firm for money laundering breaches
Asiaciti Trust committed money laundering breaches between 2007 and 2018.
DBS floats online resident payment collection platform
It reduces risk of cash and cheque mishandling.
MAS proposes enhanced powers to address financial risks
The regulator plans to require licenses to any person in Singapore issuing digital tokens.
Transfer pricing in pandemic times
The COVID-19 pandemic is being felt in the operations of businesses worldwide and one of the most striking disruptions is evident in supply chain...
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