Regulatory Compliance
One of the main jobs of financial institutions in Singapore is to follow the rules set by the government. This helps to make sure everything is fair and honest. If they don’t follow the rules, they can lose their license to work. Dive deeper into the keyword1 to link for topic and discover extra information in this specially selected external resource. money lender singapore, explore new details and perspectives about the subject discussed in the article.
Risk Management
It’s really important for financial institutions to watch out for different kinds of risks and to keep them under control. This makes sure they are safe and keeps the money system working well.
Customer Due Diligence
In Singapore, financial institutions have to be careful when they sign up new customers. They have to check who they are and what they are doing. This helps to stop bad people from using the bank for crime.
Wealth Management and Advisory Services
In Singapore, banks help people with their money. They help them with investing and managing their money. They have to do this in a way that is safe and follows the rules.
Financial Education and Consumer Protection
Banks also have to teach people about money and make sure they are treated fairly. This is important for keeping everyone safe and making good choices about money. Discover extra information about the subject in this external source we’ve handpicked for you. money lender, broaden your comprehension of the topic by revealing fresh viewpoints and discoveries.
In summary, financial institutions in Singapore have a big job. They have to follow all the rules, keep an eye on risks, be careful who they take as customers, help people with their money, and teach them about money. This helps to make sure the money system stays safe and helps people and businesses to do well.
