DBS announced on 3 April that it will introduce a third round of liquidity relief measures to help individuals and SMEs impacted by the COVID-19 pandemic. These measures closely follow the guidelines as set out in the relief package for borrowers announced by the Monetary Authority of Singapore on...
Standard Chartered (the Group) announced its launch of a USD50 million global fund providing assistance to those affected by the COVID-19 pandemic.
The Group will immediately donate $25 million to support emergency
relief in our most affected markets. The additional $25 million will help
communities over the medium term to recover from...
The Monetary Authority of Singapore (MAS), together with the Association of Banks in Singapore (ABS), the Life Insurance Association (LIA), the General Insurance Association (GIA), and the Finance Houses Association of Singapore (FHAS), announced on 31 March a package of measures to help ease the financial strain on individuals...
Even as Singapore pushes to become cheque-free by 2025, cash cheques continue to be used by small and medium-sized enterprises (SMEs), typically to pay staff salaries, get cash for daily business operations or pay vendors for services rendered.
While cheque usage by OCBC Bank’s retail banking customers has
fallen 40...
The Singapore Environment Council (SEC) announced on 19 March 2020 that Small and Medium Enterprises (SME) holding its internationally recognized certification, the Singapore Green Labelling Scheme (SGLS), and Eco Certifications can now apply for financing with HSBC SME Green Loan (Green Loan).
The HSBC SME Green Loan draws on...
PropertyGuru, announced on 12 March its expansion into home finance with the launch of its mortgage marketplace, ‘PropertyGuru Finance’.
Through this venture, PropertyGuru aims to assist Singaporeans in saving money on their home loans in the long term, as well as simplify their home buying journey. PropertyGuru Finance will...
Asian Development Bank (ADB) President Masatsugu Asakawa and Singapore Deputy Prime Minister and Minister for Finance Heng Swee Keat officially opened ADB’s new office in Singapore on 5 March 2020, deepening efforts to collaborate on some of the most pressing development challenges facing Asia and the Pacific.
The Singapore...
OCBC Bank leveraged Singapore Customs’ electronic Banker’s Guarantee program which was launched on 2 March, issuing an electronic banker’s guarantee (eBG) to Singapore Customs on behalf of vCargo Cloud, an Infocomm Technology solution and service provider that performs customs declaration services for forwarders and shippers.
OCBC Bank’s API connectivity with...
DBS Bank has completed the first trade financing settlement through through vCargo Cloud’s CamelONE Trade Finance portal (TFP) – with another two transactions slated to close in early March. The inaugural transaction relates to an SGD 4.8 million letter of credit transaction by homegrown steel wholesaler and supplier, Super...
DBS announced on 26 February its second round of relief measures to help businesses in Singapore cope better with the COVID-19 situation. These measures are a mix of financial relief packages and digital initiatives to enable companies to fast track their digital adoption and transaction fulfillment needs in the...
