Regulatory Alerts2022-09-02
Added · Updated
Enhancing Consumer Protection in Respect of Buy Now, Pay Later Products
The Monetary Authority of Singapore issued this circular to enhance consumer protection regarding Buy Now, Pay Later products. It requires Authorized Institutions to implement robust risk management and internal controls when engaging intermediaries for these services. The directive ensures compliance with the Code of Banking Practice and aligns with broader consumer credit data sharing guidelines.
CIR
Current
Issue Date:
02 Sep 2022
20220902-1-EN.pdf (243.2 KB)
Topic:
Banking Conduct & Enforcement - Code of Banking Practice
Banking Conduct & Enforcement - Consumer Protection
Credit Risk Management - Retail credit risk management
Internal Controls - Insourcing/Outsourcing
Group:
All Authorized Institutions
Directly related Document
Cross referenced Document
Version History
Superseded Document
Directly related Document
SPM-SGL
Current
12 Jun 2026
IC-6 The Sharing and Use of Consumer Credit Data through Credit Reference Agencies
CIR
Current
04 Sep 2020
Enhanced Disclosure Measures in respect of Digital Platforms for the Application of Unsecured Loan and Credit Card Products
CIR
Current
30 Nov 2016
Engagement of Intermediaries by Authorized Institutions (AIs)
CIR
Current
16 Aug 2010
Marketing through Third Parties of Instalment Payment Plans involving Pre-payment for Goods or Services
Directly related Document
SPM-SGL
Current
12 Jun 2026
IC-6 The Sharing and Use of Consumer Credit Data through Credit Reference Agencies
CIR
Current
04 Sep 2020
Enhanced Disclosure Measures in respect of Digital Platforms for the Application of Unsecured Loan and Credit Card Products
CIR
Current
30 Nov 2016
Engagement of Intermediaries by Authorized Institutions (AIs)
CIR
Current
16 Aug 2010
Marketing through Third Parties of Instalment Payment Plans involving Pre-payment for Goods or Services
Version History
Superseded Document
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