Singapore Banking

Mahesh Kini of HSBC says that a stable government is committed to Singapore's multi-..... growth by focusing on various sectors.

Singapore's 2006 budget outlines many ..... for businesses operating in Singapore in the financial and related sectors.

In the ..... is the Integrated Resorts project, a large entertainment complex featuring casinos, amusement parks, hotels, and convention centres, which is due to open in 2010.

Such large government-backed initiatives and the drive to create a new tourism hub in Singapore ..... well for the large tourism industry, which saw nine million tourists arrive on Singapore's shores in the past year.

The MAS, in a step to liberalise commercial banking in Singapore, has provided qualifying full bank status to some foreign banks to provide a full ..... of financial services to individuals and corporates and issued wholesale bank status to a number of foreign banks to serve commercial customers.

Singapore is also seeing a trend to establish global treasury centres; Singapore's infrastructure, political stability and favourable time zone, located centrally in the Asia-Pacific region, have greatly benefited multinational corporations in supporting a global cash ......

Another growing trend is for companies to ..... their supply chain and cash management to attain greater efficiencies.

Singapore's finance industry has fully ..... Internet technology and is capitalising on this phenomenon to the fullest extent as a relatively inexpensive distribution and delivery medium to grow market share and improve profitability.

Besides online banking services, these banks as well as other companies that act as intermediaries and ....., have developed business-to-business, business-to-consumers, and even person-to-person transaction service initiatives.

Singapore has one of the highest Internet ..... rates worldwide and all major banks provide Internet banking platforms and many also provide host-to-host capabilities to link up to companies' back-office operations for file transfers.