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Md Delwar Hossain
Apr 09, 2022
In Wellness Forum
This article will further explain the supervision and licenses in Singapore. Similar to China, the first thing to consider is the local regulatory environment and licenses, otherwise it will be illegal to do so. 1. Regulatory agencies The main regulators special database involved in payment are the Monetary Authority (MAS), in addition to the Singapore Clearing House Association (Singapore Clearing House Association) and the Association of Banks in Singapore (Association of Banks in Singapore); since the licensing party is MAS. We routinely The regulatory agency understood above is the Monetary Authority (MAS). The financial regulatory agency MAS is roughly equivalent to our bank and three committees (the People's Bank of China, the China Securities Regulatory special database Commission, the China Banking Regulatory Commission, and the China Insurance Regulatory Commission). MAS has spent many years promulgating and implementing laws including banking law, insurance law, securities law, futures trading law, and fund management. A train of financial laws, including the Law on Foreign Exchange Transactions and the Law on Foreign Exchange Transactions, performs regulatory functions on all financial institutions and companies holding capital service licenses in Singapore. It also includes the management of quasi-financial institutions such as wealth management and credit special database rating. 2. Laws and regulations Before 2006, Singapore had no legislation covering the entire payment system. The Monetary Authority of Singapore (MAS) regulation of the payment system is scattered in the Banking Act, the Bills of Exchange Act, and a number of informal, cooperative documents. As the financial industry continues to evolve, MAS has come to recognize the importance of payment systems for monetary policy, financial stability and the public interest. After years of deliberation.
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Md Delwar Hossain
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