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We represent and further the interest of our members, set standards of good practice for these members and upgrade their expertise. We have regular dialogue and consultation with the Monetary Authority of Singapore (MAS) to discuss industry issues and promote a sound financial system in Singapore.
The Association has provided input for legislation and guidelines relating to the industry, and helps establish common ground for member banks to reconcile differing opinions and support projects of mutual benefit.
The Association liaises with a number of institutions and trade associations such as the Singapore Investment Banking Association, the Finance Houses Association, the Singapore Exchange, the Real Estate Developers Association, the Consumers Association of Singapore and others which use banking and financial services extensively.
In these efforts, ABS enjoys a strong symbiotic relationship with MAS in supporting Singapore's continuing ambition to become a premier financial centre within the Asia-Pacific time-zone.
our beginning
The Association of Banks in Singapore was formed in 1973 after Singapore and Malaysia terminated the interchangeability agreement on their currencies and each issued its own currency. Before that, banks in the two territories were served by a joint association known as the Association of Banks in Malaysia and Singapore. |
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For the first nine years, ABS was headed by the OCBC Bank, a position which it had held in the Association of Banks in Malaysia and Singapore.
Since 1981, however, the chair has been rotated among the biggest four (in 2001 reduced to three) Singaporean banks, with each given a two-year term to provide leadership. The first bank to head the association under this arrangement was Development Bank of Singapore. |
get to know ABS |
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The management team behind ABS. |
| Committees established to deal with a wide range of banking and bank-related issues. |
| In serving our member banks, ABS works closely with the ASEAN Banking Association and is secretariat of the Singapore SWIFT User Group as well as Dr Goh Keng Swee Scholarship Fund. |
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