Asian Dollar Market
In the late 1960s, it was recognised that given appropriate support and incentives, an Asian version of the Eurodollar market could be developed in Singapore. Singapore offered several advantages including a sound financial infrastructure, an excellent communications network, a stable government and a strategic geographical location within the Asian time zone.
Singapore is now home to over 600 financial institutions, ranging from banks to insurance companies to fund managers. A growing number of international financial institutions have also chosen to base their operational headquarters in Singapore to service their regional group activities. The ADM has since grown to a total asset size of more than US$1 trillion.
The Asian Dollar Market has been critical to Singapore’s role in financing regional growth. Banks in Singapore draw in non-SGD deposits globally, and deploy these funds to serve the financing and treasury needs of individuals, corporates and institutions in Singapore and beyond.