Merchant Banks

Merchant banks are approved under the Monetary Authority of Singapore Act and their operations are governed by the Merchant Bank Directives. Their ACU operations are also subjected to the Banking Act.

Merchant Banks operate within the Guidelines for Operation of Merchant Banks. Their typical activities include corporate finance, underwriting of share and bond issues, mergers and acquisitions, portfolio investment management, management consultancy and other fee-based activities. Most merchant banks have, with MAS' approval, established ACUs to transact in the Asian Dollar Market. For the latest number of merchant banks in Singapore, please refer to this link to the Financial Institutions Directory.

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Date Title
05 Jul 2018 Guidelines on the Application of Total Debt Servicing Ratio for Property Loans under MAS Notice 645, 1115, 831 and 128Guidelines
23 Dec 2016 Guidelines on Standards of Conduct for Marketing and Distribution ActivitiesGuidelines
07 Aug 2012 Guidelines on Fit and Proper Criteria [Guideline No. FSG-G01]Guidelines
01 Dec 2005 Guidelines on Definition of a "Deposit"Guidelines
19 Mar 2007 Guidelines for Operation of Merchant BanksGuidelines
06 Sep 2011 Guidelines for Financial Institutions to Safeguard the Integrity of Singapore's Financial SystemGuidelines
22 Oct 2013 FSG Circular No. BD 08/2013: Conduct of Renminbi ("RMB") Business in SingaporeCirculars
20 Jan 2000 FSG 02/2000: Posting of Financial Product Information On Third Party Internet Websites [Cancelled with effect from 15 Mar 2004]Circulars
01 Nov 1985 Directive 8 Credit Facilities and LimitsDirectives
01 Nov 1985 Directive 7 Credit Facilities to Directors, Related Corporations, etcDirectives
01 Nov 1985 Directive 6 Information to be Furnished by Merchant BanksDirectives
11 Mar 2005 Directive 5 Provision for Bad and Doubtful DebtsDirectives
01 Nov 1985 Directive 4 Amendment of Merchant Bank's ConstitutionDirectives
03 Mar 1999 Directive 33 Financial StatementsDirectives
18 Dec 1987 Directive 32 Exempt Merchant Bank Government Securities DealerDirectives

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Last Modified on 23/08/2018