Jurisdiction(s):
United Kingdom

Singapore banking regulation: supervision, licensing, capital and liquidity, ownership and control, enforcement and resolution, consumer protection, and developments (digital banks, cryptoassets, AI) – practitioner Q&A guide

Published by a LexisNexis Restructuring & Insolvency expert

Practice notes

Banking regulation—Singapore—Q&A guide

This Practice Note provides a jurisdiction-specific Q&A guide to banking regulation in Singapore, published as part of the Lexology Getting the Deal Through series by Law Business Research (Law stated at: 17 January 2023). Authors: WongPartnership LLP—Elaine Chan; Chan Jia Hui

1. What are the principal governmental and regulatory policies that govern the banking sector?

Robust local banks remain central to Singapore’s banking landscape, and the policy of preserving domestic banks’ share of total resident deposits at not less than 50% continues unchanged.
In view of their systemic significance to the Singapore economy and financial system, local banks must meet capital adequacy standards that exceed Basel III requirements.
Alongside this, the government has progressively liberalised the industry to encourage greater participation by foreign banks in wholesale and retail banking, fostering dynamism and innovation.
This phased liberalisation has resulted in the award of qualifying full bank (QFB) licences to 10 foreign banks, enabling them to carry out retail banking.

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Web page updated on 21/05/2026

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