Banking

Deposit-taking institutions in Singapore operate as full banks, wholesale banks, merchant banks or finance companies. Find out about the regulations, updates and licensing for such institutions. 

Licensing and Authorisation

MAS regulates and supervises over 150 deposit-taking institutions in Singapore, including full banks, wholesale banks, merchant banks and finance companies. Credit card and charge card issuers in Singapore are governed by the Banking Act . With a total asset size of almost US$2 trillion, the Singapore banking sector is critical to Singapore’s role in financing local and regional growth in trade and infrastructure, and an established global private banking centre.

Types of Deposit-Taking Institutions

Find out about the different types of deposit-taking institutions and their permitted activities. 

​Licensing and Authorisation for Banking Business

Find out how to apply for a wholesale banking licence or to operate as a merchant bank.

Set up Bank Representative Office

Find out how to set up a bank representative office.

For the list of financial institutions in Singapore, see the Financial Institutions Directory.

Regulations and Guidance

MAS is governed by the MAS Act, which confers on it powers to issue legal instruments for regulation and supervision of financial institutions.

View all regulations

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Development Initiatives

Schemes and Initiatives

View MAS' tax incentives and grant schemes for financial institutions with plans to establish or expand their operations in Singapore.

Hiring

The Financial Associate Management Scheme (FAMS) helps your financial institution to defray part of the costs of hiring and training Singapore citizen staff. 

International Postings

The International Postings Programme (iPOST) helps with the costs of sending Singapore citizen staff on overseas attachments or postings.

Leadership Development

The Asian Financial Leaders Scheme (AFLS) prepares senior-level talent to assume leadership positions and handle the growing complexity of Asia's financial institutions.

Specialised Training

A postgraduate scholarship programme, the Finance Scholarship Programme (FSP) helps your financial institution develop specialist leaders in a variety of fields in Singapore's finance sector.

Lifelong Learning

For Singaporean finance professionals,
MAS’ SkillsFuture Study Award programme, helps you develop and deepen your skills through a wide range of programmes.

Skills & Career Development

Find out about the range of training programmes available to upgrade the capabilities of financial sector professionals.

What's New

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