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A Moneylender Act Singapore Explained
The Moneylender Act in Singapore is a segment of legislation that sets out the guidelines governing moneylending activities. This act aims to safeguard borrowers from exploitative lending practices and foster responsible moneylending in Singapore. It handles a wide range of elements related to moneylending, including licensing requirements for lenders, interest rate caps, and procedures for resolving conflicts.
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Additionally, staying current on any updated changes in moneylending regulations is necessary. The Moneylenders Act, as well as other relevant directives, provide a framework for ethical moneylending practices in Jurong East and throughout Singapore.
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