Banking / Investment in Singapore
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SINGAPORE, 2016/05/25
Singapore closed down BSI's operations in the city-national, while Switzerland began criminal proceedings against the private bank, in the biggest international crackdown on financial entities dealing with a scandal-hit Malaysian government fund.
The Monetary Authority of Singapore (MAS) said on Tuesday (24/05) it had withdrawn BSI Bank's status as a merchant bank in Singapore for critical breaches of anti-money laundering rules, the initial time in 32 years it has taken such action against a bank.
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SINGAPORE, 2014/10/16
Singapore central bank kept its monetary policy unchanged on Tuesday as it assessed that the current stance is appropriate for containing both domestic and imported source of inflation amid subdued recovery.
The Monetary Authority of Singapore maintained a modest and gradual appreciation path of the Singapore dollar nominal effective exchange rate (S$NEER) policy band with no change to its slope, width, and the level at which it was centered.
Instead of interest rates, the MAS applies the exchange rate against a basket of currencies within an undisclosed band as its monetary policy tool.
The bank reiterated that it will continue to closely monitor the impact of external developments inclunding domestic restructuring on the increase and inflation prospects for Singapore.
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SINGAPORE, 2013/06/30
Singapore's central bank censured a record 20 banks next it found additional than 100 traders in the city national tried to rig key borrowing and currency rates.
The probe by the Monetary Authority of Singapore (MAS) marks the new development in a world crackdown on rate-rigging and adds additional banks, inclunding ING and Bank of America , to the inventory of lenders involved. The watchdog said on Friday that 133 traders had tried to inappropriately influence the rates. It did not fine the banks, but ordered them to set aside additional reserves for a year.
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SINGAPORE, 2013/05/07
Banks in Singapore are urgently scrutinizing their account holders as an imminent deadline on stricter tax evasion measures forces them to decide whether to send some of their wealthiest clients packing.
The Southeast Asian city-national has grown into the world's fourth-biggest offshore financial center but, with U.S. and European regulators on the hunt for tax cheats, the government is clamping down to forestall the kind of onslaught from foreign authorities that is presently hitting Switzerland's banks.
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SINGAPORE, 2012/12/22
With its wealth of natural resources and its prime geographical location at the crossroads of Asia and Europe, Turkey is fast becoming a top investment destination among Singapore firms. Just last week, Temasek Holdings was said to have bought a small stake in Turkiye Halk Bankasi, Turkey's second-biggest bank.
Other Singapore firms and institutions have as well made forays into the market this year, citing the rise of Turkey's middle-income people and the strength of its economy part the pull factors. After an economic boom between 2002 and 2007, Turkey's economy took a beating in 2008 in the world financial meltdown.
