DBS, UOB appointed as new managing agents for Baby Bonus Child Development Accounts
DBS Bank and United Overseas Bank (UOB) have been appointed as new managing agents for Baby Bonus Child Development Accounts (CDAs), said Singapore's Ministry of Social and Family Development (MSF) on Monday.
They will join existing CDA bank OCBC in providing CDA services from July 13, 2015.
This will give parents more banking choices for their young children's Baby Bonus CDAs. Currently, there are 280,000 active Baby Bonus CDAs.
Standard Chartered Bank, an existing CDA bank, will no longer be accepting new CDA applications. It will continue to manage its existing CDAs until December 2018.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
South Korea readies new system to detect illegal short-selling
US births retreat after pandemic-era growth
Markets are embracing India's Modi for what he won’t do
Blinken to meet businesses in Shanghai as he kicks off a tough China trip
Indonesia’s central bank surprises with ‘pre-emptive’ rate hike to cushion falling rupiah
South Korea’s economic growth beats forecast as exports rise