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.