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Further curbs on money lending to foreigners

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The framework will stop licensed moneylenders from giving loans to Singapore citizens, permanent residents and foreign residents who are on the exclusion list.


BUILDING on measures implemented in November last year, the Ministry of Law (MinLaw) has further tightened caps on loans to foreigners and low-income foreigners in particular.

A self-exclusion mechanism for borrowers to opt out of licensed moneylender loans that had been...