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Banks in Singapore band together to lift standards for commodity financing

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A working group is proposing new guidelines to lift the standards behind lending practices and improve transparency in the sector, and comes amid some cases of defaults of trading firms amid a historic plunge in oil prices.

Singapore

BANKS with operations in Singapore are banding together to raise industry standards for commodity financing in Singapore.

This move was confirmed by the Singapore authorities, which told The Business Times on Thursday that this will be the first such set of "best...

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