SINGAPORE - Digital bank hopefuls will have to wait longer to know whether their application has been approved.
MAS said extending the assessment period for the awarding of the licences will allow applicants to focus on managing the immediate impact of the Covid-19 pandemic on their businesses. It received 21 applications for the three digital wholesale bank licenses and two digital full bank licenses. The firm is also assessing similar opportunities in other regions, added Mr Lee, who is also Razer Fintech chief executive.
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