Singapore Bank Group Denies MAS Muzzled Talk on Wealth Inflows

Singapore’s Private Banking Industry Group, which includes the city-state’s central bank and large lenders, rejected a report that it sought to silence discussions about the origin of wealth inflows into the Southeast Asian nation.

“The Monetary Authority of Singapore (MAS) has not issued any directive to banks – tacit or otherwise – to avoid discussing the origins of wealth inflows into Singapore,” the group said on Friday, referring to an earlier report in the Financial Times.