Financial Services In Singapore

In the past few years, many important changes have taken place in the Singapore financial marketplace. The Monetary Authority of Singapore has implemented numerous reforms to liberalise the financial services sector. This book provides details of the reforms and discusses the financial services and products provided by Singapore institutions.

Tan Chwee Huat is a professor at the NUS Business School.

List of Tables

ix

Preface

xi

PART A FINANCIAL MARKETPLACE

Financial Marketplace: An Overview

1

(13)

Free enterprise marketplace

1

(1)

Role of financial institutions

2

(1)

Deregulation, competition and convergence

3

(2)

Types of market

5

(2)

Market players

7

(1)

Need for supervision and corporate governance

8

(1)

Types of financial institutions

9

(3)

Financial products and services

12

(2)

Financial Reform

14

(16)

Developing financial services

14

(2)

Financial incentives

16

(3)

Financial reforms

19

(2)

Liberalization of commercial banking

21

(4)

Divesting non-financial activities

25

(2)

MAS new approach to bank supervision

27

(1)

MAS consultation paper on corporate governance

28

(2)

New Laws and Licences

30

(15)

New laws for financial services

30

(1)

Securities and Futures Act

31

(2)

Capital markets licence

33

(3)

CMFAS Examination

36

(2)

Financial Advisors Act

38

(7)

Regulators, Associations and Institutes

45

(25)

Major regulators

45

(5)

Professional associations and institutes

50

(16)

Financial programs at polytechnics and universities

66

(1)

Related organizations

67

(3)

PART B INSTITUTIONS, SERVICES AND INSTRUMENTS

Banking Services

70

(24)

Role of a bank

70

(2)

Deposit accounts

72

(5)

Borrowing facilities

77

(1)

Corporate banking

78

(2)

Investment advice and products

80

(1)

Electronic banking

81

(3)

Basic Bank Account

84

(1)

Bank licences

85

(3)

Guidelines for Internet banking

88

(1)

Internet and securities licensing

89

(3)

ABS Code of Consumer Banking Practices

92

(2)

Insurance Services

94

(31)

Insurance in Singapore

94

(1)

Insurance and risk management

95

(2)

Concept of insurance

97

(1)

Basis of insurance

98

(1)

Principles of insurance

99

(1)

Life insurance

100

(5)

Investment-linked Products

105

(2)

CPF for endowment & ILP

107

(1)

General insurance (personal)

108

(2)

General insurance (business)

110

(3)

Health insurance

113

(3)

CPF and Insurance Schemes

116

(2)

Insurance Disputes Resolution Organization

118

(1)

Committee on Efficient Distribution of Life Insurance

118

(1)

LIA: Code of Life Insurance Practice

119

(1)

LIA: Guide to Life Insurance

120

(1)

MAS Insurance Licence Guide

121

(1)

MAS incentives for insurance industry

122

(3)

Singapore Exchange

125

(18)

Role of an exchange

125

(3)

SGX securities trading

128

(1)

SGX derivatives trading

128

(1)

Range of derivative products

129

(5)

Recent developments

134

(1)

SGX mainboard listing requirements

134

(2)

SESDAQ listing requirements

136

(2)

SGX listing process

138

(1)

Amending SGX listing rules

139

(1)

Securities Lending Program

140

(3)

Financial Instruments

143

(26)

Financial instruments

143

(1)

Debt and equity instruments

143

(1)

Stocks and shares

144

(4)

Depository receipt

148

(1)

Real estate investment trust

148

(1)

Unit trust and hedge fund

149

(1)

Exchange traded fund

149

(1)

Stock options

150

(2)

Bonds

152

(5)

Government securities

157

(5)

Money market instruments

162

(1)

Derivative instruments

163

(4)

Investment-linked insurance policies

167

(2)

Collective Investment Scheme

169

(20)

Unit trust and collective investment scheme

169

(1)

Advantages and disadvantages

170

(2)

Basic types of fund

172

(1)

Trust Deed

173

(1)

Code on Collective Investment Schemes

173

(3)

CPF: Risk Classification System

176

(3)

Hedge fund

179

(5)

Buying and selling unit trusts

184

(2)

Listing of investment funds

186

(3)

CPF Investment Schemes

189

(20)

Objectives of CPF

189

(1)

Rates of contribution

189

(3)

Ordinary, Special, Medisave and Retirement accounts

192

(1)

CPF interest rate

193

(1)

CPF withdrawal

193

(2)

Various schemes

195

(5)

Changes to CPFIS in August 2000

200

(3)

Changes to CPFIS in January 2001

203

(2)

CPFIS-OA and CPFIS-SA

205

(1)

Changes to CPFIS in September 2002

206

(3)

Abbreviations

209

(10)

Glossary

219

(28)

Index

247

What is included with this book?

The New copy of this book will include any supplemental materials advertised. Please check the title of the book to determine if it should include any access cards, study guides, lab manuals, CDs, etc.

The Used, Rental and eBook copies of this book are not guaranteed to include any supplemental materials. Typically, only the book itself is included. This is true even if the title states it includes any access cards, study guides, lab manuals, CDs, etc.

FREE SHIPPING

Amazon no longer offers textbook rentals. We do!

Financial Services In Singapore

Summary

Author Biography

Table of Contents

Supplemental Materials