Definition of “business trust”
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A business trust is a business enterprise structured as a trust. A business trust (“BT”) is a business enterprise structured as a trust....
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- MAS
Last revised date:
- Mr Ravi Menon, Managing Director of the Monetary Authority of Singapore spoke about the future of jobs and banking in Southeast Asia, as well as prospects for FinTech, including bitcoin ATMs and crowdfunding. A Bitcoin dispensing machine at an underground shopping mall in Singapore: the country is looking at fintech to help advance the skillset of its citizens (photo: Then Chih Wey Xinhua News Agency/Newscom) IMF COUNTRY FOCUS Singapore: Banking on the Future December 14, 2017 Singapore
- MAS
- FAQs
Last revised date:
- Provides clarifications to some frequently asked questions on the conduct of RMB business activities in Singapore. Annex A Frequently Asked Questions Q1 A Q2 A Q3 A Q4 A Q5 A RMB Market Will there be fungibility between RMB funds held in Singapore and that of other locations? As there are no restrictions on the flow of RMB funds in and out of Singapore, RMB funds held in Singapore will be fungible with that in countries outside
- MAS
- Monetary Policy Statements
Last revised date:
- 13 April 2018 INTRODUCTION 1. In the October 2017 Monetary Policy Statement, MAS kept the slope of the Singapore dollar nominal effective exchange rate (S$NEER) policy band at zero percent, with no change to the width of the policy band or the level at which it was centred. This policy stance was assessed to be appropriate given the broadly stable outlook for GDP growth and MAS Core Inflation. Chart 1 S$ Nominal Effective Exchange Rate (S$NEER) 2. Since October 2017, the S$NEER has appreciated
- MAS
- Monetary Policy Statements
Last revised date:
- 14 April 2014 INTRODUCTION 1 In October 2013, MAS maintained the modest and gradual appreciation path of the S$NEER policy band, with no change to its slope, width, and the level at which it was centred. This policy stance, which has been in place since April 2012, was assessed to be appropriate, taking into account the balance of risks between external demand uncertainties and rising domestic inflationary pressures. Chart 1 S$ Nominal Effective Exchange Rate (S$NEER) 2 Over the last six months
- MAS
- Media Releases
Last revised date:
- Singapore, 25 November 2022… The United Kingdom (UK) and Singapore held the 7th UK-Singapore Financial Dialogue in Singapore today. Both countries renewed their commitment to deepening the UK-Singapore Financial Partnership that was agreed in 2021, discussed mutual priorities such as sustainable finance, FinTech and innovation, and agreed on further cooperation in these areas. 2. At the Financial Dialogue, the UK and Singapore agreed on a Memorandum of Understanding on the UK-Singapore FinTech Bridge
- MAS
- Speeches
Last revised date:
- 1. Mr Speaker, I beg to move that the Bill be now read a second time. Introduction 2. The Payment Services Act, or PS Act, came into force in January last year. Since then, payment services have continued to evolve rapidly, with innovative activities and new business models emerging. One significant development is in the area of digital payment tokens (DPT). These are crypto-currencies – such as Bitcoins – which are not denominated in any currency but can be used as a form of payment
- PDPC
- Public Consultations
Last revised date:
- Aug 2018 The PDPC has issued a closing note to the feedback received from the public consultation. Closing Note on the Public Consultation on the Proposed Advisory Guidelines on the PDPA for NRIC Numbers For more information on the final Advisory Guidelines issued, please click here . To access the Technical Guide issued please click here . Dec 2017 The public consultation on Proposed Advisory Guidelines on the PDPA for NRIC Numbers has closed on 18 December 2017. Responses received at closing date
- MAS
- Media Releases
Last revised date:
- 1 The Minister for Education and Deputy Chairman, Monetary Authority of Singapore (MAS) today moved the Payment Systems (Oversight) Bill (the Bill) for first reading in Parliament. The Bill will be read for a second time and discussed at the next available Parliamentary sitting. 2 MAS conducted public consultations on the proposed regulatory framework for payment systems and stored value facilities (SVF) in Singapore in April 2003, and the draft of the Bill in December 2004. The feedback
- MAS
- Speeches
Last revised date:
- "Mr. Speaker Sir, I beg to move that the Bill be now read a second time." 2 The amendments introduced in this Bill are necessary because of the following reasons: a The repeal of the Insurance Intermediaries Act (hereinafter referred to as "Intermediaries Act") consequent to the introduction of the Financial Advisers Act (or "FAA" for short), which DPM has just moved in this House, necessitates amendments to migrate the provisions of the Intermediaries Act to the Insurance Act. These provisions
- MAS
- Speeches
Last revised date:
- Introduction 1 Good morning, ladies and gentlemen. 2 Allow me to express my thanks to the organisers for inviting me to its first Asian Conference on Takaful. Takaful is a product that has been offered in Singapore for many years now. HSBC and NTUC Income were two of the pioneers in introducing Takaful product as early as 1995. 3 With the recent growth in Islamic finance internationally, we will likely see further developments in the Takaful industry. This 2-day conference is therefore a