In a survey conducted by advisory firm Duff & Phelps, Singapore was rated by peers as boasting the top financial sector regulatory system in Asia.1It might not be surprising, then, that a survey commissioned by the Association of Banks in Singapore (ABS) found that more than 60 percent of respondents (consumers) reported high trust in Singapore’s banking system.2(Culture and Conduct Supervision - a Journey)
This number comes from the “Banking Trust Index for Singapore” (BTIS), a survey the ABS commissioned in 2020. In contrast to many of the countries discussed herein, government and banks are shown by the BTIS to be the most trusted institutions in Singapore.3
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