MAS mulls allowing digital-only banks

  • 📰 thenewpaper
  • ⏱ Reading Time:
  • 11 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 8%
  • Publisher: 63%

Finance Finance Headlines News

Singapore's central bank said it is studying whether to allow financial technology companies to operate digital-only banks, as regulators in other Asian markets begin issuing virtual banking licences. Singapore is among several financial centres in the region, such as Hong...

Singapore is home to three locally listed banks - DBS Group Holdings, OCBC Bank and United Overseas Bank.

"However, the operating model of such banks cannot be a one-size-fits-all regardless of the operating environment," he said, highlighting Singapore's small domestic market.STAKEHOLDERS

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 7. in FİNANCE

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

MAS extends sponsorship of NUS professorship, adds LKY School of Public Policy as host schoolThe Monetary Authority of Singapore (MAS) on Friday announced it has extended its financial sponsorship of the MAS Term Professorship in Economics and Finance at the National University of Singapore (NUS) for another five years. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

MAS to release data on its forex intervention, transfers S$45b in reserves to GICTHE Monetary Authority of Singapore (MAS) has decided to release further information on its monetary operations without compromising its effectiveness, it said on Wednesday, as it also announced the transfer of S$45 billion from the official foreign reserves (OFR) to GIC for longer term investment. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »