Neil Parekh Nimil Rajnikant on Moneylenders (Amendment) Bill
Tightening the laws for the betterment of society is an ongoing commitment, and the amendments serve to strengthen the role and work of licensed moneylenders, said NMP Neil Parekh Nimil Rajnikant. Speaking in Parliament on Wednesday (Nov 22), he pointed out that for a small but very competitive economy like Singapore, the amendments will help to enhance its standing as a financial centre. He also highlighted the impact and challenges for both businesses and borrowers. He sought clarifications on the criteria for information sharing, data security measures and oversight mechanisms, especially in light of recent information leaks.
Tightening the laws for the betterment of society is an ongoing commitment, and the amendments serve to strengthen the role and work of licensed moneylenders, said NMP Neil Parekh Nimil Rajnikant. Speaking in Parliament on Wednesday (Nov 22), he pointed out that for a small but very competitive economy like Singapore, the amendments will help to enhance its standing as a financial centre. He also highlighted the impact and challenges for both businesses and borrowers. He sought clarifications on the criteria for information sharing, data security measures and oversight mechanisms, especially in light of recent information leaks.
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