SINGAPORE (THE Small business Periods) – A set of ideal procedures for commodity financing was rolled out on Monday (Nov 30), the initial such code for the industry in Singapore. This arrives soon after the town-state’s status as a reliable hub for this lending phase has taken a strike of late.
The code was released by the Association of Banks in Singapore (Abdominal muscles), with the support of the Financial Authority of Singapore (MAS), Enterprise Singapore (ESG) and the Accounting and Corporate Regulatory Authority (Acra).
The Abs Code of Ideal Tactics for Commodity Funding lays out key principles governing prudent commodity trade funding methods.
It delivers a benchmark for banks’ lending benchmarks in the sector to make Singapore far more resilient, pertinent and competitive as a international commodity investing hub, claimed Abdominal muscles in a push statement.
One particular of the two important themes underpinning the code is that, at