Guidelines on the Application of Banking Regulations to Islamic Banking

Guidelines for all financial institutions covering MAS' general approach to Islamic banking regulations.

Islamic Banking

Applies to: Full Bank (Locally Incorporated) , Full Bank (Branch) , Wholesale Bank (Branch) , Wholesale Bank (Locally Incorporated)

View Document Guidelines on the Application of Banking Regulations to Islamic Banking (369.4 KB)

These guidelines apply to all financial institutions offering Islamic banking in Singapore.

The guidelines cover:

MAS’ general approach to the regulation of Islamic banking
Admission framework for Islamic banks
Regulatory treatment for Islamic banking products

Notices

Last Revised Date: 31 March 2020

Notice 637 Risk Based Capital Adequacy Requirements for Banks Incorporated in Singapore

Risk-based capital adequacy requirements for reporting banks incorporated in Singapore.

Capital Adequacy
Notices

Last Revised Date: 22 January 2020

Notice 649 Minimum Liquid Assets and Liquidity Coverage Ratio

Requirements for banks in Singapore on minimum liquid assets (MLA) and liquidity coverage ratio (LCR).

Liquidity Risk
Notices

Last Revised Date: 29 December 2017

Notice 612 Credit Files, Grading and Provisioning

Requirements for banks on maintaining credit files, grading credit facilities and determining credit loss allowance.

Credit Risk
Notices

Last Revised Date: 30 November 2015

Notice 626 Prevention of Money Laundering and Countering the Financing of Terrorism – Banks

Requirements for banks on anti-money laundering (AML) and countering the financing of terrorism (CFT).

AML/CFT
Notices

Last Revised Date: 13 April 2011

Notice 640 Minimum Asset Maintenance Requirements

Covers requirements for the minimum amount of eligible assets that foreign banks must maintain in Singapore.

Asset Maintenance
Acts

Published Date: 31 March 2008

Banking Act (Cap. 19)

Governs the licensing and regulation of banks, merchant banks and related institutions, including their credit card and charge card business.
Subsidiary Legislation

Published Date: 18 July 2001

Banking Regulations

Requirements for banks on deposit-taking activities, limit on property sector exposure, application of secrecy provisions to merchant banks, and exclusion of certain private equity and venture capital investments from section 32 of the Banking Act.

Anti-Commingling Capital Adequacy Credit Risk