Monetary Authority of Singapore opened up applications for new digital banks. Applicants that shows a loss-making trend will not qualify.

August 29, 2019 / Nocashevents / Comments Off on Monetary Authority of Singapore opened up applications for new digital banks. Applicants that shows a loss-making trend will not qualify.

. The new digital bank licences will be extended to non-bank players. . Applicants for the digital full bank licence must additionally be anchored in Singapore, controlled by Singaporeans and headquartered in Singapore. . Interested parties have until 31 December 2019 to submit their applications. The Monetary Authority of Singapore (MAS) expects to announce the successful applicants in mid-2020. Successful applicants will be expected to commence business by mid-2021. SINGAPORE’S […]

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