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
21 May 2014 SRD TR 01/2014 System Vulnerability Assessments and Penetration TestingCirculars
31 Dec 2013 Notice 832 Notice on Risk Based Capital Adequacy Requirements for Finance Companies Incorporated in SingaporeNotices
29 Nov 2013 Notice 826 Bridging Loans for the Purchase of Immovable PropertiesNotices
03 Sep 2013 Borrowers Who are Individuals and Who Own Residential Property Gazetted for Acquisition (Amended from Circular dated 22 July 2013)Circulars
21 Aug 2013 SRD TR 02/2013: MAS Circular (Cancellation) 2013Circulars
21 Jun 2013 Notice 830 Technology Risk ManagementNotices
15 Apr 2013 Notice 829 Motor Vehicle LoansNotices
28 Feb 2013 Notice 819 Control of Advertisements [Cancelled with effect from 1 March 2013]Notices
23 Jan 2013 Notice 828 Reporting of Suspicious Activities & Incidents of FraudNotices
07 Aug 2012 Guidelines on Fit and Proper Criteria [Guideline No. FSG-G01]Guidelines
30 Nov 2011 Notice 825A Residential Property Loans - Fact SheetNotices
31 Dec 2009 Guidelines to MAS Notice 824Guidelines
17 Oct 2007 Notice 805 Credit Facilities to Directors, Employees, Related and Associated CompaniesNotices
07 Sep 2007 Notice 818 Change in Capital and ShareholdersNotices
07 Sep 2007 Notice 817 Appointment of Directors and Chief ExecutivesNotices

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Last Modified on 26/11/2016