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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 credit activities. This act aims to protect borrowers from exploitative lending practices and promote responsible moneylending in Singapore. It addresses a wide spectrum of aspects related to moneylending, including licensing requirements for lenders, interest rate caps, and steps for resolving disputes.
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Moreover, staying up-to-date on any new amendments in moneylending legislation is crucial. The Moneylenders Act, as well as other relevant ordinances, provide a framework for responsible moneylending practices in Jurong East and throughout Singapore.
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