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New moneylending rules kick in for better borrower protection

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The first set of new borrowing rules for Singapore licensed moneylenders will come into effect on Thursday, the Ministry of Law said on Wednesday.

Singapore

THE first set of new borrowing rules for Singapore licensed moneylenders will come into effect on Thursday, the Ministry of Law said on Wednesday.

Loans from moneylenders will now be subject to the following caps:

  • The upfront administrative fee must not exceed
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