StanChart Singapore gets boost in presence with FTA backing
Privileges under EU-Singapore FTA give it more places of business as first Significantly Rooted Foreign Bank
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A RECENT free trade agreement between the European Union and Singapore has paved the way for Standard Chartered Bank Singapore to raise its presence in the Republic - and possibly in time, on the digital front in the same way the Singapore banks can.
StanChart Singapore has been freshly labelled as the country's first Significantly Rooted Foreign Bank (SRFB) here, with the MAS considering to offer an additional full bank licence via an enhanced SRFB framework, the regulator said on Monday.
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