Singapore to Establish OTC Gold Clearing System, Introduce Central Bank Vaulting Services
Singapore is set to implement significant changes within its gold market infrastructure. The nation plans to establish an Over-The-Counter (OTC) gold clearing system and introduce central bank gold-vaulting services. Concurrently, the Monetary Authority of Singapore (MAS) will remove the 5 per cent cap on physical investment precious metals under tax-incentive schemes designed for eligible funds and family offices.
Singapore is preparing to introduce an Over-The-Counter (OTC) gold clearing system, alongside new central bank gold-vaulting services. These initiatives are poised to enhance the nation's precious metals market infrastructure.
In a related development, the Monetary Authority of Singapore (MAS) will remove a 5 per cent cap that was previously imposed on physical investment precious metals. This cap applied under tax-incentive schemes designed for eligible funds and family offices.
(Source: Channel News Asia)
