SSIC 641 MONETARY INTERMEDIATION

Companies in This Category (640)

SSIC: 641
Live Company
CLEARSTREAM FUND CENTRE S.A.

Incorporated Mar 2026

SSIC: 641
Live Company
SSIC: 641
Live Company
SSIC: 641
Live Company
SSIC: 641
Live Company
EUROCLEAR BANK SA/NV

Incorporated Oct 2024

SSIC: 641
Live Company
SSIC: 641
Live Company
SSIC: 641
Live Company
AMAP CAPITAL PTE. LTD.

Incorporated Sep 2023

SSIC: 641
Struck Off
HDFC BANK LIMITED

Incorporated Jul 2023

SSIC: 641
Live Company
FAFA TRADER

Incorporated Apr 2023

SSIC: 641
Live
SSIC: 641
Live Company
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Related Categories (3)

SSIC 642
ACTIVITIES OF HOLDING COMPANIES
SSIC 643
TRUSTS, FUNDS AND SIMILAR FINANCIAL ENTITIES
SSIC 649
OTHER FINANCIAL SERVICES ACTIVITIES, EXCEPT INSURANCE AND PENSION FUNDING ACTIVITIES

Understanding SSIC 641

The SSIC 641 classification pertains to monetary intermediation. This official code is mandatory when registering a business entity with ACRA (Accounting and Corporate Regulatory Authority) in Singapore.

Key Characteristics:

  • Compliance with the Banking Act (Cap. 19) and MAS regulations is paramount, including capital adequacy ratios and liquidity requirements.
  • Common business structures include locally incorporated banks, branches of foreign banks, and finance companies, each subject to specific licensing requirements under the MAS.
  • Frequent regulatory requirements involve reporting to MAS on financial performance, risk management practices, and anti-money laundering (AML) compliance, as mandated by the MAS Act (Cap. 186).

Common Business Operations

Financial intermediation other than monetary authorities, encompassing activities such as commercial banking, merchant banking, and finance companies, as defined by the Monetary Authority of Singapore (MAS).

Accepting deposits from the public and providing loans to individuals and businesses, a core function regulated by MAS to ensure financial stability.
Examples include DBS Bank providing SME loans, OCBC Bank offering mortgage financing, and UOB providing trade finance services, all subject to MAS oversight.
Industry practices align with EDB's financial services sector reports, focusing on areas like fintech adoption, wealth management, and sustainable finance initiatives, as promoted by MAS.