Singapore - MAS extends digital bank licences to non-bank players

8 July 2019 On 28 June 2019, the MAS announced that it will issue up to 5 new digital banking licences comprising: Up to 2 digital full bank licences (permitting licencees to deal with retail clients); and Up to 3 digital wholesale bank licences (permitting licencees to deal with SMEs and non-retail clients). The licences will be available to digital players who demonstrate an innovative and sustainable business model, even if they have yet to establish a track record in b