IMF Staff Country Reports

Singapore: Selected Issues

Publication Date:

October 9, 2001

Electronic Access:

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Summary:

The major objectives of the banking system reform are twofold: first, to continue to gradually open domestic banks to greater competition from foreign banks, and second, for Singapore banks to retain significant domestic market share in this more open environment as well as to become significant participants in the regional market. The authorities have clearly stated that they see the process of mergers and consolidation of the local banks as inevitable, but that they do not intend to force the process.

Series:

Country Report No. 2001/177

Subject:

Banking Capital productivity Economic sectors Financial markets Financial sector Labor productivity Manufacturing Production Securities markets