MAS to loosen regulatory barriers for banks carrying on permissible non-financial businesses

SINGAPORE (June 28): The Monetary Authority of Singapore (MAS) on Tuesday announced its intention to streamline existing the regulatory requirements for banks seeking to conduct or invest in permissible non-financial businesses.

Specifically, adjustments will be made to the anti-commingling framework which was introduced in 2001 to ensure that banks remained focused on their core businesses and competencies.

In a press release on Tuesday, MAS says its proposed measures will give banks more flexibility to serve the needs of their customers while ensuring they remain focus on their core financial businesses, given how the banking landscape has evolved considerably since the anti-commingling framework’s establishment.

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