Singapore regulator defers digital bank licence review to H2 2020

It had earlier planned to announce the successful applicants in June.

The Monetary Authority of Singapore (MAS) is extending the assessment period for the issuing of digital bank licences to H2 2020, according to a news release.

The regulator had earlier planned to announce the successful applicants in June.

The extension will allow the regulator to allocate resources to ensure monetary and financial stability, and will also grant applicants time to manage the impact of the pandemic.

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