Commodity-finance industry in Singapore gets code of best practices

Singapore

A SET of best practices for commodity financing was rolled out on Monday, the first such code for the industry in Singapore. This comes after the city-state's reputation as a trusted hub for this lending segment has taken a hit of late.

The code was launched by the Association of Banks in Singapore (ABS), with the support of the Monetary Authority of Singapore (MAS), Enterprise Singapore (ESG) and the Accounting and Corporate Regulatory Authority (Acra).