MAS probes property listings on UOB website

The Monetary Authority of Singapore is looking into recent property listings that appeared on the website of United Overseas Bank, the Dow Jones news agency reported on Thursday.

The move comes after local media reported earlier this week that property listings had appeared on the website of UOB, Singapore’s third-largest bank by assets.

The MAS did not elaborate if the action contravened any local banking regulations. UOB declined to comment.

“A bank which seeks to enter into an arrangement with another party to carry on any business [other than banking or financial business or those which MAS has expressly permitted] should seek MAS’ prior approval before doing so,” the central bank said in an emailed statement.

“MAS is looking into the property listings in question. We note that the listings have been removed.”

Source : Today – 6 Sep 2012

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