Tougher rules ahead for moneylenders in Singapore

New measures will take effect from November 1 to protect the interests of borrowers.

The new regulations come just 2 years after advertising rules were relaxed for licensed moneylenders. However, the Ministry of Law observed high levels of advertising and became concerned that the advertisements would encourage reckless borrowing.

Advertising & Marketing Activities
Moneylenders can only advertise on their website, in print/online directories like Yellow Pages, or advertisements within their approved place of business. They must also comply with rules on what the advertisement can or cannot contain.

Print advertisements and pamphlets will no longer be allowed. Non-compliance may result in the loss of licence, a fine of up to S$20,000 or imprisonment of up to 6 months.

Moneylender's Licence
Each moneylending outlet must be managed by a different person who has at least 4 "O" Level passes and has passed a written test. His/her appointment as manager must be approved by the Registrar of Moneylenders.
Moneylenders must computerise their operations and submit electronic reports to the Registry every quarter for audits. They must subscribe to land line as their business contact number instead of using mobile phones.
There are also changes to the fees that moneylenders can and cannot collect.

For more information, click here.

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia