Application for Merchant Bank

Monetary Authority of Singapore (MAS)

Application Details

Licensing and Authorisation for Banking Business
Financial institutions (FIs) wishing to conduct banking business in Singapore must meet MAS' admission criteria and receive written authorisation from MAS to set up a wholesale bank or merchant bank in Singapore.

Admission Criteria
MAS takes the following factors into consideration when assessing an FI's application to conduct banking business:

Financial soundness, track record, world ranking and reputation of the FI, parent company and major shareholders.
Strength of home country supervision, including the willingness and ability of the home supervisory authority to cooperate with MAS, and its framework for cross-border cooperation.
Written consent from the home country supervisory authority for the establishment of a banking operation in Singapore.
Well-thought strategy for banking and financial services in Singapore, and sound business plans to ensure sustained economic viability.
Robust risk management systems and processes that are commensurate with the FI's size and proposed business.