Do I Need A License To Lend Money?

Moneylenders lend both small and large amounts of cash, usually at higher rates of interest. Higher interest rates may be charged because the moneylender is exposed to a higher risk of defaulting than traditional banks because of various reasons. When people need money urgently but may not have access to bank accounts, have bad credit, […]

Registrar’s Conditions For The Grant Of Moneylender’s License

In addition to the requirements under the Moneylenders Act (Cap. 188) (and any revised edition of the Act) (“the Act”) and the Moneylenders Rules 2009 (“the Rules”) for obtaining and holding a moneylender’s license, the following conditions for the grant of your license are imposed under Section 5(4) and/or Section 5(7) of the Act: General […]