Regulatory Alerts2021-06-28
Added
MAS Notice 1109: Requirements for Merchant Banks Granting Unsecured Non-Card Credit Facilities to Individuals
The Monetary Authority of Singapore issued Notice 1109 to establish compliance requirements for merchant banks when granting unsecured non-card credit facilities to individuals. This regulation applies to all merchant banks in Singapore and supersedes previous versions of the notice effective from July 1, 2021. The document outlines specific obligations regarding credit limit management and ongoing credit checks to ensure responsible lending practices.
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