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Thread: SINGAPORE-PRESS-Singapore grants full licences to two Chinese banks

  1. #1
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    Default SINGAPORE-PRESS-Singapore grants full licences to two Chinese banks

    SINGAPORE-PRESS-Singapore grants full licences to two Chinese banks-The Straits Times

    SINGAPORE | Tue Oct 9, 2012 8:06pm EDT
    Oct 10 (Reuters) - The Monetary Authority of Singapore has granted full banking licences to two Chinese banks, the Bank of China and the Industrial and Commercial Bank of China, the Straits Times reported.

    One of the two will act as a clearing bank for yuan transactions, but both will be allowed to open as many as 25 branches in Singapore and offer services that include accepting retail deposits in Singapore, the report said.

  2. #2
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    that's more like it, no need to lug around cash anymore for the prc

  3. #3
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    Singapore using RMB in 20 years' time?

  4. #4
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    finally.... we can be truly PaRt Of China

  5. #5
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    BOC take over UOB
    ICBC take over OCBC
    DBS keep

    30 years time




  6. #6
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    M3 will go up with massive RMB coming onshore .. inflation will shoot through the roof
    Ride at your own risk !!!

  7. #7
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