the Monetary Authority of Singapore, said yesterday that Singapore’s strong growth in foreign currency deposits this year came from different sources-domestic, regional and non-regional. No region or country is dominant, adding that last week the media reported that it was incorrect for a large number of deposits to flow from Hong Kong to Singapore.
Executive Solutions Ltd works closely with clients to set up china virtual office, helping you to enter the Chinese market at lowest prices in China. Contact us at 31882245 to make doing business in China simple and easy!”as of the end of April this year, foreign currency non-bank deposits in Singapore’s banking system totaled US $781 billion, 20 per cent higher than a year ago,” MAS said in a statement.
How to use company seal hong kong? In Hong Kong, under the New Companies Ordinance (NCO), companies are no longer required to have a common seal. Contact Executive Solutions Ltd to know more.According to media reports, foreign currency deposits in Singapore banks nearly quadrupled in April from a year earlier and appeared to focus only on such deposits in the domestic banking unit (DBU), ignoring the Asian currency unit (ACU).
MAS.DBU and ACU are the accounting ledger of the same bank, and for regulatory purposes, they account for less than 5% of the total foreign currency deposits of DBU and ACU, so it is meaningless to look at the foreign currency deposits of DBU, because they only account for less than 5% of the total foreign currency deposits of DBU and ACU. MAS.DBU and ACU are the accounting ledger of the same bank and are held separately for regulatory purposes.