Financial institutions may reopen branches, resume in-person meetings: MAS

They must implement all safety measures and maintain a record of meetings.

Singapore’s financial institutions (FIs) can progressively reopen closed branches and resume face-to-face meetings with customers when the country moves to phase 2 of reopening on 19 June, according to the Monetary Authority of Singapore (MAS).

However, MAS directed FIs to ensure that all necessary safety measures laid out by the Ministry of Manpower will still be implemented. These include wearing masks, practising safe distancing, and using SafeEntryFor meetings at places without SafeEntry.

In-person meetings with customers are permitted at business premises or elsewhere, on an appointment basis. FIs should also maintain a record of the meetings to facilitate contract tracing, said MAS.

The regulator still strongly encourages FIs and their customers to continue using digital financial services and e-payments as much as possible.