Singapore opens vaults to foreign central banks’ gold
MAS also plans new goods and services tax framework for institutional bullion market participants
The Monetary Authority of Singapore (MAS) has officially opened its vaults to foreign central banks’ gold, though it remains quiet about which of these institutions might store bullion in the country.
Gan Kim Yong, the MAS’s chair and Singapore’s deputy prime minister, said on November 10 that the city state had opened its gold vaulting services for sovereigns, and announced plans for a new goods and services tax (GST) framework for gold market activities in the country. “[Foreign central banks’
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