Finance Companies

Finance companies are licensed under and governed by the Finance Companies Act.

They focus on providing fixed and saving deposits as well as credit facilities to individuals and corporations. They may not offer deposit accounts which are repayable on demand by cheque, draft or order. Generally, finance companies shall not grant unsecured credit facilities to any person or body of persons, which in the aggregate and outstanding at any one time exceeds S$5,000. Finance companies are not allowed to deal in any foreign currency, gold or other precious metals or acquire foreign currency denominated stocks, shares or debt securities. They may expand their scope of activities subject to MAS’ approval.

For the latest number of finance companies in Singapore, please refer to this link to the Financial Institutions Directory.

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Date Title
10 Mar 2017 Notice 825 Residential Property LoansNotices
01 Jul 2014 Notice 824 Prevention of Money Laundering and Countering the Financing of TerrorismNotices
16 Dec 1987 Notice 823 Dealing in Government SecuritiesNotices
21 Nov 2005 Notice 822 Power of the Authority to Secure Compliance with Sections 23, 26, 27 and 31Notices
21 Nov 2005 Notice 821 Finance Companies' Acquisition of Shares in CompaniesNotices
21 Nov 2005 Notice 820 Credit Facilities to a Single Borrower or Group of BorrowersNotices
28 Feb 2013 Notice 819 Control of Advertisements [Cancelled with effect from 1 March 2013]Notices
07 Sep 2007 Notice 818 Change in Capital and ShareholdersNotices
07 Sep 2007 Notice 817 Appointment of Directors and Chief ExecutivesNotices
28 May 2004 Notice 816 Lending of Singapore Dollar to Non-Resident Financial InstitutionsNotices
21 Feb 1978 Notice 815 Submission of Annual AccountsNotices
11 Mar 2005 Notice 814 Provision For and Writing Off of Bad DebtsNotices
21 Nov 2005 Notice 813 Immovable PropertiesNotices
01 Dec 1983 Notice 812 Financing of Trade and InventoryNotices
11 Mar 2005 Notice 811 Credit Files and Classification of LoansNotices

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Last Modified on 26/11/2016