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What are the capital adequacy guidelines for trust licence holders?

Updated time: Jul 31, 2018 , 17:42 (UTC+08:00)

Under the Banks and Trust Companies Act 1990, general trust licence holders are required to have a minimum fully paid-up capital of two hundred and fifty thousand US dollars ($250,000) or its equivalent in foreign currencies; or such sum as the Financial Services Commission by order determines; and to have deposited or invested a sum of money as may be specified by the Commission but not exceeding US$100,000. Applicants for a restricted trust licence are not subject to capital requirements.

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