9 September 2019

Digital banking licences in Singapore: MAS opens applications

The Monetary Authority of Singapore (MAS) announced on 29 August 2019 that it will begin accepting applications for new digital bank licences. This follows from its earlier announcement on 28 June 2019 of its intention to issue up to two digital full bank licences and up to three digital wholesale bank licences. In this update, we breakdown the key assessment criteria and summarize the application and establishment timeline.

Chris Moore +65 6671 6064
Managing Partner, Singapore christopher.moore@allenovery.com
James Mythen +65 6671 6077
Partner, Singapore james.mythen@allenovery.com
Shuhui Kwok +65 6671 6065
Counsel, Singapore shuhui.kwok@allenovery.com
Zi Yang Lim +65 6671 6161
Senior Assoicate, Singapore ziyang.lim@allenovery.com
Yu Jia Ang +65 6671 6078
Associate, Singapore yujia.ang@allenovery.com

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