Regulatory Alerts2013-10-22
Added
BD 08/2013: Conduct of Renminbi (RMB) Business in Singapore
The Monetary Authority of Singapore issued BD 08/2013 to define the scope of Renminbi business activities permissible for authorized banks and merchant banks in Singapore. This circular applies to all categories of licensed institutions, including wholesale, merchant, and full banks, both locally incorporated and as branches. It provides regulatory guidance and clarifications on frequently asked questions regarding the conduct of RMB business and foreign exchange conversion via the Renminbi Clearing Bank.
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