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22-09-2022, 07:57 AM
Chor Khieng Yuit
Senior Business Correspondent
PUBLISHED 11 HOURS AGO
SINGAPORE - Consumers in Singapore are better placed than others around the world when it comes to the ease of acquiring financial services and products, said a new survey.
It found that the country was tops in the area of financial inclusion, beating powerhouse economies such as the United States, Britain, Hong Kong and Japan.
Financial inclusion, according to the World Bank, means individuals and businesses have access to useful and affordable products and services to meet their needs, ranging from transactions and payments to savings, credit and insurance.
It also states that these needs must be met in a responsible and sustainable way.
......
it scored lower on the availability of government-provided financial education.
The country was also marked down on its regulations championing the consumer and its deposit insurance system, which protects bank customers' deposits up to $75,000 per depositor per bank.
https://www.straitstimes.com/business/ec...some-areas
Senior Business Correspondent
PUBLISHED 11 HOURS AGO
SINGAPORE - Consumers in Singapore are better placed than others around the world when it comes to the ease of acquiring financial services and products, said a new survey.
It found that the country was tops in the area of financial inclusion, beating powerhouse economies such as the United States, Britain, Hong Kong and Japan.
Financial inclusion, according to the World Bank, means individuals and businesses have access to useful and affordable products and services to meet their needs, ranging from transactions and payments to savings, credit and insurance.
It also states that these needs must be met in a responsible and sustainable way.
......
it scored lower on the availability of government-provided financial education.
The country was also marked down on its regulations championing the consumer and its deposit insurance system, which protects bank customers' deposits up to $75,000 per depositor per bank.
https://www.straitstimes.com/business/ec...some-areas
