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
Xi tells Blinken US, China should be 'partners, not rivals'
Indonesia’s push for regional economic integration to continue under Prabowo: Vivian Balakrishnan
Outgoing Singapore, Indonesia leaders to hold their final retreat in Bogor on Apr 29
Beijing city to subsidise domestic AI chips, targets self-reliance by 2027
China passes tariff law as tensions with trading partners simmer
Blinken meets Chinese counterpart Wang Yi in Beijing