Regulatory Alerts2020-11-06
Added
Notice 827 Unsecured Credit Facilities to Individuals
The Monetary Authority of Singapore issued Notice 827 to establish regulatory requirements for finance companies granting unsecured non-card credit facilities to individuals. This directive mandates compliance with specific standards regarding credit limit management, ongoing credit checks, and the overall granting process for such facilities. The notice applies to all finance companies in Singapore and has undergone several amendments, with the most recent revision effective from November 2020.
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