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MAS makes it easier for banks to invest in “permissible non-financial businesses”

The Monetary Authority of Singapore (MAS) has given banks the green light to conduct or invest in “permissible non-financial businesses” such as e-commerce and digital payment platforms, Heng Swee Keat, Singapore’s minister of finance, said in a speech yesterday. “MAS recognises that we can simplify our requirements to enable banks to embed banking services into consumers’ day-to-day activities,” Heng said….

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