Financial Trends

If banks did not exist, both saving and borrowing would decline sharply within the economy. Creation of Employment- Entrepreneurship generates employment. It gives an entry-level job, required for gaining expertise and coaching for unskilled workers. The Singapore banks offer safe offshore banking alternatives for those trying to protect their privacy, preserve their capital and property and legally cut back their tax liabilities through offshore tax planning methods like foreign companies, restricted legal responsibility companies, foundations and annuities. Successfully, by 2001 most banks had adopted a conservative lending strategy e.g. with whole advances for the banking sector being only 21.7% of … Read More