Overview of licences for financial institutions in Singapore

    Licensing requirement - Lending money

    The lending of money to individuals is subject to licencing under the Moneylenders Act. A person who lends a sum of money in consideration of a larger sum being repaid is, until the contrary is proved, presumed to be a moneylender under the Moneylenders Act. Under the Moneylenders Act, no person is permitted to carry on the business of moneylending in Singapore without a moneylender’s license unless that person is an “excluded moneylender” or “exempt moneylender.”

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