Singapore monetary board asks financial firms to ensure COVID-19 distancing measures

Online platforms and employee distancing should be implemented.

The Monetary Authority of Singapore (MAS) has advised financial institutions to implement safe distancing measures in their operations to reduce the risk of further COVID-19 transmission.

Firms were urged to strengthen their measures to meet the latest advisory from MAS as well as the relevant guidance issued by the Ministry of Health (MOH), the Ministry of Manpower (MOM, and Enterprise Singapore.

They are also asked to encourage customers to use electronic means for transactions, where available. Other key measures for customer-facing locations include limiting the number of people waiting at the premises and ensuring a separation of at least one metre between clients.

Financial institutions should also prioritise vulnerable customers such as the elderly or pregnant women, and collect details of visitors for contact tracing purposes.

All non-critical events such as marketing and promotional roadshows as well as investment or education seminars shall be cancelled.

To safeguard employee health and business continuity, firms should allow employees to work from home or at another location, ensure wider physical spacing of at least one metre between staff, and stagger start times for work and lunch hours to avoid congestion at common areas.