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Singapore extends assessment of digital bank licenses due to virus outbreak

A view of the Monetary Authority of Singapore's headquarters in Singapore

SINGAPORE (Reuters) - The Monetary Authority of Singapore said it has extended the assessment period for approving digital bank licences in the city-state, citing the global escalation of the COVID-19 pandemic.

Successful applicants will be informed in the second half of 2020 instead of June 2020, as originally intended, the central bank said on Thursday.


(Reporting by Aradhana Aravindan in Singapore; Editing by Himani Sarkar)