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
07 Sep 2007 Notice 818 Change in Capital and ShareholdersNotices
07 Sep 2007 Notice 817 Appointment of Directors and Chief ExecutivesNotices
06 Jan 2006 SRD 01/2006 - Further Guidance on Business Continuity ManagementCirculars
21 Nov 2005 Notice 820 Credit Facilities to a Single Borrower or Group of BorrowersNotices
21 Nov 2005 Notice 804 Submission of StatisticsNotices
21 Nov 2005 Notice 801 Appointment of AuditorsNotices
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 813 Immovable PropertiesNotices
21 Nov 2005 Notice 807 Licence FeesNotices
01 Apr 2005 Finance Companies (Licence Fees) RegulationsSubsidiary Legislation
14 Mar 2005 Notice 809 Revaluation of Assets dated 1 Nov 1973 [Cancelled with effect from 14 Mar 2005]Notices
11 Mar 2005 Notice 814 Provision For and Writing Off of Bad DebtsNotices
01 Mar 2005 BD Cir 04/2005 - Central Provident Fund Board's Measures to Address Cashback Transactions for Resale HDB FlatsCirculars
30 Dec 2004 BD Cir 14/2004 - Cash Rebates Offered for Housing LoansCirculars

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Last Modified on 23/08/2018