Maybank gets nod for CFS business in S’pore


Maybank group president and CEO Datuk Abdul Farid Alias(pic) said the group has been operating in Singapore since 1960, beginning with retail banking, and has over the years transformed into a universal bank.

PETALING JAYA: The Monetary Authority of Singapore (MAS) has on Oct 3 granted Malayan Banking Bhd (Maybank) approval to locally incorporate its Community Financial Services (CFS) business in Singapore.

MAS has issued a full banking licence with Qualifying Full Bank privileges to Maybank Singapore Ltd (MSL), Maybank’s wholly owned subsidiary incorporated in the republic.

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