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An Moneylender Act Singapore Explained
The Moneylender Act in Singapore is a chunk of legislation that establishes out the regulations governing credit activities. This act aims to protect borrowers from exploitative lending practices and promote responsible moneylending in Singapore. It addresses a wide range of elements related to moneylending, including licensing requirements for lenders, interest rate caps, and steps for resolving disputes.
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Furthermore, staying informed on any recent developments in moneylending legislation is crucial. The Moneylenders Act, as well as other relevant ordinances, provide a framework for compliant moneylending practices in Jurong East and throughout Singapore.
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