Our Service Commitment
Learn about the service standards you can expect from us.
Most of the email and phone enquiries we receive can be answered with information from our website. We update our website frequently and there are useful tools to help you complete your tasks. Here are links to some common topics on our website:
|Channel||We aim to:|
|Website||Have at least 75% of users rate that they are very satisfied.|
|General enquiries and feedback||Respond to 90% of general enquiries and feedback within 7 working days.
For more complex enquiries, we seek your understanding that we may need more time for review before responding to you.
|Answer your call within 20 seconds.
Have at least 75% of callers rate that they are very satisfied.
The processing time for licence applications depends on the specific licence type, the proposed business model, the profile of the applicant, as well as the quality of the submitted application. In the event that we receive a high volume of licence applications, processing time can be longer than indicated.
|Banks/Merchant Banks||Within 4 months
|Banking Rep Offices||Within 2 months |
|Capital Markets Services (CMS) Licensees
||Within 6 months|
|Venture Capital Fund Managers (VCFMs)||Within 4 months|
|Financial Adviser (FA) Licensees||Within 4 months|
|Insurance Brokers||Within 4 months|
|Licensed Trust Companies||Within 6 months|
|Approved Collective Investment Schemes (CIS) Trustees||Within 6 months|
|Registered Fund Management Companies||Within 6 months|
|Recognised Market Operators||Within 9 months|
|Recognised Clearing Houses||Within 9 months|
|Licensed (Foreign) Trade Repositories||Within 6 months|
|Authorised Benchmark Administrators||Within 6 months|
|Offers of Investments||Within 2 months|
|Direct Insurers||Within 2 months
|Reinsurers||Within 2 months |
||Within 2 months |
|Special Purpose Reinsurance Vehicles (SPRVs)
||Within 2 weeks 
|Insurance Representative Offices
||Within 2 months 
||Within 2 months |
|Approved Marine, Aviation and Transit (MAT) Insurers||Within 2 months |
|Non-Bank Credit and Charge Card Licensees||Within 4 months|
|Money-changing Licensees||Within 3 months|
Standard Payment Institution Licensees and Major Payment Institution Licensees
|Within 4 months
|Standard Payment Institution Licensees and Major Payment Institution
(Digital Payment Token service providers)
|Within 6 months |
For more information, please refer to our for licence and registration applications. These guides set out our admission criteria, information required in the application, and factors that MAS focuses on when assessing different types of business models. We also publish an annual licensing and registration report that sets out factors that lead to extended processing times, as well as broad reasons behind unsuccessful applications.
|MAS Electronic Payment System (MEPS+)||99.9%
|MASNET (Gateway)||99.5% |