Monetary Authority of Singapore (MAS) is consulting the public on recommendations to amend and enhance various features of the Deposit Insurance (DI) Scheme in Singapore.
Two key changes being proposed include raising the coverage limit from S$20,000 to S$50,000 and also to provide coverage beyond the deposits of individuals and charities, to other non-bank depositors such as sole proprietorships, partnerships, companies and unincorporated entities.
The consultation paper can be found here:
Review of Deposit Insurance Scheme in Singapore
MAS invites interested parties to give their views and comments on the proposals contained in the Consultation Paper. Comments should be submitted to policy@mas.gov.sg by 26 March 2010.
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