Monetary Authority of Singapore will have enhanced regulatory powers under Banking (Amendment) Bill

The Monetary Authority of Singapore (MAS) will get enhanced regulatory powers with amendments to the Banking Bill. The amendments expand the grounds on which MAS can revoke bank licences. MAS can now revoke a foreign bank's licence if the parent bank's licence is withdrawn. The regulator can also exercise its greater power when it assesses that it is in "the public interest" to do so.

Subscribe to our channel here:

Subscribe to our news service on Telegram:

Follow us:
CNA:
CNA Lifestyle:
Facebook:
Instagram:
Twitter:

CNA,Channel NewsAsia,Monetary Authority of Singapore,MAS,bank licences,Banking Bill,amendments,Singapore Parliament,Ong Ye Kung,