Ministry of Law announces lower maximum loan amount of S$500 for low-income foreigners and work pass holders

SINGAPORE — The Ministry of Law (MinLaw) announced new restrictions on moneylending activities, particularly for low-income foreigners and work pass holders, in a press release published on Monday, July 15. The new loan cap has been decreased to S$500 from the previous S$1500, effective immediately. MinLaw has put in place a comprehensive set of measures … Continue reading Ministry of Law announces lower maximum loan amount of S$500 for low-income foreigners and work pass holders