JAKARTA: Monetary Authority of Singapore (MAS) argued they have accommodated foreign financial industry demands which going to expand their business in Singapore, including Indonesian banking.
MAS Communication Director Angelina Fernandez said every bank can maximize their business activities in Singapore as long as they meet the regulations.
“All foreign banks are free to expand their business in Singapore, as long as they subject to specific guidelines based on operating license they have received,” she told Bisnis, yesterday.
Angelina expressed it when answering inquiries regarding the emerging of reciprocal demand issue between two countries related to PT Bank Danamon acquisition by DBS Group of Fullerton Financial Holdings. (T07/aph)
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