Singapore Remittance Companies Directed to Suspend Use of Non-Bank Channels for Transfers to China

  • 📰 straits_times
  • ⏱ Reading Time:
  • 1 sec. here
  • 9 min. at publisher
  • 📊 Quality Score:
  • News: 28%
  • Publisher: 69%

Finance News

Singapore,Remittance Companies,Non-Bank Channels

Remittance companies in Singapore have been directed to suspend the use of non-bank and non-card channels when providing cross-border money transfer services to China for the next three months. This decision comes after numerous reports of frozen remittances through such channels.

Remittance companies in Singapore have been directed to suspend the use of non-bank and non-card channels for cross-border money transfers to China from Jan 1 to March 31, 2024. This decision comes after more than 670 reports of frozen remittances through such channels, involving a total amount of around $13 million.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in İE
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Singapore Experts Recommend Sustainability Measures for Manufacturing CompaniesThe Institute of Singapore Chartered Accountants (ISCA), Singapore Manufacturing Federation (SMF), Deloitte, and Singapore Management University (SMU) have listed five recommendations for manufacturing companies to accelerate their sustainability transformation. Creating a Chief Financial and Sustainability Officer (CFSO) position and integrating sustainability into operations are among the suggestions.
Source: SBRMagazine - 🏆 13. / 51 Read more »