Safe deposit box
A safe deposit box known as a safety deposit box, is an individually secured container held within a larger safe or bank vault. Safe deposit boxes are located in banks, post offices or other institutions. Safe deposit boxes are used to store valuable possessions, such as gemstones, precious metals, marketable securities, luxury goods, important documents, or computer data, that need protection from theft, flood, tampering, or other perils. In the United States, neither banks nor the FDIC insure the contents. An individual can purchase insurance for the safe deposit box in order to cover e.g. theft, flooding or terrorist attacks. Many hotels and cruise ships offer safe deposit boxes or small safes to their patrons, for temporary use during their stay; these facilities may be located behind the reception desk, or securely anchored within private guest rooms for privacy. The contents of safe deposit boxes may be seized under the legal theory of abandoned property, they may be searched and seized by the order of a court through the issuance of search warrant.
Banking in Switzerland Numbered bank account
Federated Malay States
The Federated Malay States was a federation of four protected states in the Malay Peninsula—Selangor, Negeri Sembilan and Pahang—established by the British government in 1895, which lasted until 1946, when they, together with two of the former Straits Settlements and the Unfederated Malay States, formed the Malayan Union. Two years the Union became the Federation of Malaya and Malaysia in 1963 with the inclusion of North Borneo and Singapore; the United Kingdom was responsible for foreign affairs and defence of the federation, whilst the states continued to be responsible for their domestic policies. So, the British Resident General would give advice on domestic issues, the states were bound by treaty to follow that advice; the federation had Kuala Lumpur, part of Selangor, as its capital. The first FMS Resident General was Frank Swettenham; the federation, along with the other Malay states and British possessions of the peninsula, was overrun and occupied by the Japanese during World War II.
After the liberation of Malaya following the Japanese surrender, the federation was not restored, but the federal form of government was retained as the principal model for consolidating the separate States as an independent Federation of Malaya and the Federation's evolution into Malaysia. Although the Resident General was the real administrator of the federation, each of the four constituent states of the federation retained their respective hereditary rulers. At the formation of the Federated Malay States, the reigning sultans were: Sultan Alaiddin Sulaiman Shah of Selangor Sultan Idris Murshidul ‘Adzam Shah I of Perak Yamtuan Tuanku Muhammad Shah of Negeri Sembilan Sultan Ahmad Mu’adzam Shah of PahangIn 1897 the first Durbar was convened in the royal town of Kuala Kangsar, Perak as the platform for discussions for the four Rulers; this formed the basis for the Conference of Rulers, created on under Article 38 of the Malaysian Constitution on 27 August 1957. The Federated Malay States had a flag of its own until its dissolution in 1946.
The flag consisted of four different-coloured stripes, from top to bottom: white, red and black. Different combinations of these colours represent the four states that formed the FMS — red and yellow are for Negeri Sembilan; the same design concept is used in Malaysian national emblem. In the middle is an oblong circle with a Malayan tiger in it; the National History Museum located near the Dataran Merdeka in Kuala Lumpur, Malaysia has a replica of the federation's flag. The coat of arms of the Federated Malay States featured a shield guarded by two tigers. On the top of the shield is the crown, symbolising the federation of monarchies under the protection of the United Kingdom. A banner with the phrase "Dipelihara Allah" written in Jawi is located underneath the shield; the combinations of the four colours of the shield represents the colours of the flags of the states of the FMS in the same way the stripes of the FMS flag do. Red and yellow for Selangor Black and yellow for Perak Red and yellow for Negeri Sembilan Black and white for PahangThis design forms the basis of the Federation of Malaya's national emblem along with the guardian tigers and a quartered shield of the same, symbolic four colours mentioned above.
The phrase "Dipelihara Allah" was adopted as the current state motto for the state of Selangor. In addition to a state flag, the Federated Malay States had a naval jack or ensign for use on government ships; the ensign, with the four colours of the FMS, was flown by HMS Malaya, commanded by Captain Boyle under the 5th Battle Squadron of the British Grand Fleet) during the Battle of Jutland in the North Sea. This was the largest and the only full-scale clash of battleships during World War I; the protectorate of the Federated Malay States was established after the four Rulers of Selangor, Negeri Sembilan and Pahang agreed to a federation and centralised administration in 1895 and in which the Treaty of Federation was drawn up and signed on 1 July 1896. By this treaty and the previous acceptance of the British Residents System in Selangor, Negeri Sembilan and Pahang, the FMS were turned into a nominally independent protectorate of Great Britain, not to be confused with nearby British possessions like the territories of the Straits Settlements and Unfederated Malay States.
With the Treaty of Federation, the Malay rulers gave up their political power in their states, having to act after consulting and only with the due consent of their respective Residents. However, the United Kingdom pledged not to interfere in matters relating to native Malay traditions and Islamic affairs. A well-ordered system of public administration was established, public services were extended, large-scale rubber and tin production was developed; this control was interrupted by the Japanese invasion and occupation from 1941 to 1945 during World War II. The British established the Federal Council in 1898 to administer the FMS, it was headed by the High Commissioner, assisted by the Resident-General, the Sultans, the four state Residents and four nominated unofficial members. This structure remained until the Japanese invaded Malaya on 8 December 1941. From 1896 to 1936, real power lay in the hands of the Resident-General known as Chief Secretary of the Federation. After 1936 the Federal Secretaries were no more than co-ordinating officers, under the authority of the High Commissioners, which are always the Governors of
Singapore: The Encyclopedia
Singapore: The Encyclopedia is a 640-page encyclopedia about Singapore, covering its history, geography and politics. It is jointly produced by Editions Didier Millet. While the volume is not the first to focus on Singapore, it is claimed to be the most comprehensive work of its kind; the encyclopedia has 2,560 entries contributed by 231 experts from various fields, as well as 2,400 maps and illustrations, many of which are published for the first time. The production of the work took 24 months, was sponsored by 36 organisations who donated S$1.3 million. President S. R. Nathan launched the encyclopedia at the Istana on 11 September 2006 in conjunction with Singapore 2006. Within two days of the launch, half of the volume's initial print-run of 8,000 copies had been sold, despite costing S$75 each. 70% of the sales were over-the-counter transactions at bookshops. "National Heritage Board launches Singapore: The Encyclopedia". National Heritage Board. Archived from the original on 2007-06-10. Retrieved 2006-09-18.
"Singapore A-Z… once more, with feeling". The Sunday Times. 17 September 2006. Pp. L4–L5. Joanne Leow. "Singapore encyclopedia launched in conjunction with National Day celebrations". Channel NewsAsia. Retrieved 2006-09-18.—Encyclopedia of Singapore, another encyclopedia about Singapore
Financial institutions, otherwise known as banking institutions, are corporations that provide services as intermediaries of financial markets. Broadly speaking, there are three major types of financial institutions: Depository institutions – deposit-taking institutions that accept and manage deposits and make loans, including banks, building societies, credit unions, trust companies, mortgage loan companies. Financial institutions can be distinguished broadly into two categories according to ownership structure: Commercial Banks Cooperative BanksSome experts see a trend toward homogenisation of financial institutions, meaning a tendency to invest in similar areas and have similar business strategies. A consequence of this might be fewer banks serving specific target groups, small-scale producers may be under-served. Standard Settlement Instructions are the agreements between two financial institutions which fix the receiving agents of each counterparty in ordinary trades of some type; these agreements allow traders to make faster trades since the time used to settle the receiving agents is conserved.
Limiting the trader to an SSI lowers the likelihood of a fraud. SSIs are used by financial institutions to facilitate accurate cross-border payments. Financial institutions in most countries operate in a regulated environment because they are critical parts of countries' economies, due to economies' dependence on them to grow the money supply via fractional reserve lending. Regulatory structures differ in each country, but involve prudential regulation as well as consumer protection and market stability; some countries have one consolidated agency that regulates all financial institutions while others have separate agencies for different types of institutions such as banks, insurance companies and brokers. Countries that have separate agencies include the United States, where the key governing bodies are the Federal Financial Institutions Examination Council, Office of the Comptroller of the Currency - National Banks, Federal Deposit Insurance Corporation State "non-member" banks, National Credit Union Administration - Credit Unions, Federal Reserve - "member" Banks, Office of Thrift Supervision - National Savings & Loan Association, State governments each regulate and charter financial institutions.
Countries that have one consolidated financial regulator include: Norway with the Financial Supervisory Authority of Norway, Germany with Federal Financial Supervisory Authority and Russia with Central Bank of Russia. Merits of raising funds through financial institutions are as follows: Financial institutions provide long term finance, which are not provided by commercial banks; such a company can raise funds from other sources as well. Cooperative banking
The Straits dollar was the currency of the Straits Settlements from 1898 until 1939. At the same time, it was used in the Federated Malay States, the Unfederated Malay States, Kingdom of Sarawak and British North Borneo. In the early nineteenth century, the most common currency used in the East Indies was the Spanish dollar, including issues both from Spain and from the new world Spanish colonies, most Mexico. Locally issued coinages included the Kelantan and Trengganu keping, the Penang dollar. In 1837, the Indian rupee was made the sole official currency in the Straits Settlements, as it was administered as part of India. However, Spanish dollars continued to circulate and 1845 saw the introduction of coinage for the Straits Settlements using a system of 100 cents = 1 dollar, with the dollar equal to the Spanish dollar or Mexican peso. In 1867, administration of the Straits Settlements was separated from India and the dollar was made the standard currency. From 1899, the Straits dollar was issued by a new Board of Commissioners of Currency and private banks were prevented from issuing notes.
Its value depreciated over the next eight years and was pegged at two shillings four pence sterling in 1906. The Straits dollar was replaced at par by the Malayan dollar in 1939. To this day and Singapore still use the successor to this unit, but Malaysia broke away in 1973; the first coins issued for the Straits Settlements in 1845 were 1⁄4, 1⁄2 and 1 cent denominations in copper. They were issued by the East India Company and did not bear any indication of where they were to be used. A second issue of the same denominations was produced in 1862 by the government of British India; these bore the inscription "India - Straits". In 1871, silver coins were issued in the name of the Straits Settlements for 5, 10 and 20 cents, followed by copper 1⁄4, 1⁄2 and 1 cent the next year and silver 50 cents in 1886. Silver dollars were first minted in 1903. A 3-page special issue of the Straits Settlements Government Gazette published in Singapore on 24 August 1904, contained the following proclamation by Governor, Sir John Anderson: From 31 August 1904, British and Hong Kong Dollars would cease to be legal tender and would be replaced by the newly introduced Straits Settlements Dollar.
The purpose of this action was to create a separate exchange value for the new Straits dollar as compared with the other silver dollars that were circulating in the region, notably the British trade dollar. The idea was that when the exchange value had diverged from that of the other silver dollars the authorities would peg it to sterling at that value, hence putting the Straits Settlements unto the gold exchange standard; this pegging occurred when the Straits dollar reached the value of two shillings and four pence against sterling. Within a few years, the value of silver rose such as to make the silver value of the Straits dollar higher than its gold exchange value. To prevent these dollars from being melted down, a new smaller dollar was issued in 1907 with a reduced silver content. A parallel story occurred in the Philippines at the same time; the last 1⁄4 cent coins were issued in 1916. Dollars were last struck for circulation in 1926, with 50 cents production ending in 1921; the remaining coins continued in production until 1935.
The Board of Commissioners of Currency introduced 5 and 10 dollar notes in 1898, followed by 50 and 100 dollars in 1901 and 1 dollar in 1906. Emergency issues of 10 and 25 cents were made between 1917 and 1920. 1000 dollar notes were issued in 1930 but during the remainder of the 1930s only 1, 5 and 10 dollar notes were issued. Queen Victoria The Government of Straits Settlements was first authorised to issue currency notes by Ordinance VIII of 1897, which came into operation on 31 August 1898; these notes, although dated 1 September 1898, were not issued to the public until 1 May 1899. Both the Chartered Bank and Hong Kong and Shanghai Bank continued to issue banknotes, which circulated side by side with the official currency. All notes were exchangeable with the Mexican dollar or the various other silver coins that were legal tender in the Colony. King Edward VII King Edward ascended the throne in January 1901. In the previous issue the 5-dollar note had been of the same size and design as the 10-dollar.
It was now reduced in size to help recognition. The series dated 1 February 1901 were printed by Thomas de la Co. Ltd. of London. In 1903, a dollar-sized coin in silver was minted specially for the Straits Settlements, this became the standard unit of value. All other silver dollars at that time circulation were demonetised by 1904. A steep rise in the price of silver, soon forced the government to call in the first issue of this Straits dollar and to replace it with a coin of lower silver content. During the change over period, fear of a shortage of coin led to the introduction of the one-dollar note, fixed at an exchange rate against gold instead of silver. To effect this, the British gold sovereign was for the first time declared legal tender, the Straits dollar was given an arbitrary value of two shillings and four pence sterling; this dollar note proved so popular that it was retained in all future issues, so that to a large extent it replaced the need for the silver coin. By the end of 1906, the currency circulation had risen to $21,866,142, while that of the private banks had fallen to $1,329,052.
The one-dollar notes, which were dated 1 September 1906, were printed by the London firm of Thomas de la Rue & Co. Ltd.. A five-dollar and a ten-dollar note both dated 8 June 1909, were printed Thomas de la Rue & Co. Ltd.. King George V During this reign the range of cu
DBS Bank is a multinational banking and financial services corporation headquartered in Marina Bay Financial Centre Tower 3 Marina Bay, Singapore. The company was known as The Development Bank of Singapore Limited, before the present name was adopted in July 2003 to reflect its changing role as a regional bank; the bank was set up by the Government of Singapore in July 1968 to take over the industrial financing activities from the Economic Development Board. Today, its branches numbering more than 100 can be found island-wide. DBS Bank is the largest bank in South East Asia by assets and among the larger banks in Asia, with total assets of S$518 billion as at 31 Dec 2017, it has market-dominant positions in consumer banking and markets, asset management, securities brokerage and debt fund-raising in Singapore and Hong Kong. DBS Bank's largest, controlling, shareholder is Temasek Holdings, Singapore's second largest sovereign wealth fund; as of 31 March 2018 Temasek owns 29% of DBS' shares. The bank's strong capital position, as well as "AA-" and "Aa1" credit ratings by Standard & Poor's and Moody's that are among the highest in the Asia-Pacific region, earned it Global Finance's "Safest Bank in Asia" accolade for six consecutive years, from 2009 to 2015.
The Bank was awarded the Best Digital Bank in the World in the year 2016 by Euromoney. With operations in 17 markets, the bank has a regional network spanning more than 250 branches and over 1,100 ATMs across 50 cities. Established on 16 July 1968 by the Government of Singapore to take over the industrial financing activities from the Economic Development Board, the bank's main purpose was to provide loans and financial aid to the manufacturing and processing industries and to help establish and upgrade existing industries in Singapore. In 1960, the Singapore government invited a United Nations industrial survey mission to assess the economical situation in Singapore and to come up with an industrialisation programme for the city; the proposal included setting up a development bank, together with an economic body to attract foreign investments and provide financing and managing the industrial estates. The bank began operations in September of the same year. Known as Post Office Savings Bank, it was established on 1 January 1877 in the General Post Office Building, in Raffles Place by the British Colonial Government in Singapore.
By 1976, POSB had one million depositors. The bank was renamed POSB Bank in 1990, before being acquired by DBS Bank on 16 November 1998 for S$1.6 billion, giving it a dominant market share with over four million customers. POSB Bank still operates one of the highest number of bank branches in Singapore in the suburban neighbourhoods, operates the highest number of ATM outlets throughout Singapore; the integration of both banks allowed customers of either bank to share the facilities. The ten largest shareholders as of 28 February 2017 are: * Percentage is calculated based on the total number of issued ordinary shares, excluding treasury shares Temasek Holdings Ltd, a company wholly owned by the Ministry of Finance, is deemed to be interested in all the ordinary shares held by Maju. In addition, Temasek is deemed to be interested in 4,449,781 ordinary shares in which its other subsidiaries and associated companies have or are deemed to have an interest pursuant to Section 4 of the Securities and Futures Act, Chapter 289.
DBS has branches and offices in mainland China, Hong Kong SAR, Indonesia, South Korea, Myanmar, Taiwan, Vietnam, United Kingdom and United States. Strategically located in the key trade and financial hubs of mainland China, DBS has a network of full service branches in Beijing, Shanghai, Suzhou, Dongguan and Hangzhou. In December 2006, DBS Bank received approval from the China Banking Regulatory Commission to prepare for local incorporation in Mainland China. DBS is the only Singapore bank among nine foreign banks to receive this approval. In 2010, it became the first Singapore bank to issue UnionPay debit cards in mainland China. DBS started its operations in Great Hong Kong in 1999 by acquiring Kwong On Bank from Leung's family & Japanese-based Fuji Bank, renamed it as DBS Kwong On Bank Limited, it acquired Dao Heng Bank in 2001. The three banks were merged under the trading name of DBS Bank Limited. DBS first established a presence in Taiwan in 1983. In May 2008, DBS integrated Taiwan's Bowa Bank into its operations after acquiring the "good bank assets" in February.
There are 40 distribution outlets across the country. Headquartered in the commercial capital of Mumbai, DBS operates via a network of 12 bank branches across India in Bangalore, Cuddalore, Kolhapur, Andheri, Moradabad, Nashik, New Delhi, Pune and Surat. DBS India had a 37.5% stake in DBS Cholamandalam Finance, a non-bank financial institution, in April 2009, it transferred its shares to the parent company Tube Investments of India Limited, thus terminating its shared holder agreement in Cholamandalam DBS. DBS has a 99%-owned subsidiary, PT Bank DBS Indonesia, with 39 branches and sub-branches in 11 cities. On April 2012, DBS announced that it was planning to buy over a majority stake in Bank Danamon from Temasek Holdings. Initial reactions to the proposed purchase in Indones
Ministry of Communications and Information
The Ministry of Communications and Information is a ministry of the Government of Singapore. It is in charge of information and communications technology, the media and design sectors, public libraries, as well as the Government's information and public communication policies. On 5 June 1959, the Ministry of Culture came into being with the swearing-in and appointments of ministers of the new Government of Singapore. On 1 February 1980, the Broadcasting Division of the Ministry of Culture became a statutory board, the Singapore Broadcasting Corporation. 1985 saw the dissolution of the Ministry of Culture. Its Information Division came under the new Ministry of Information, its arts promotion component was assimilated into the Ministry of Community Development as the Cultural Affairs Division. Five years on 28 November 1990, the Information Division of the MCI and the Cultural Affairs Division of MCD, together with other associated departments and statutory boards, reunited to form the Ministry of Information and the Arts.
On 1 September 1991, the Festival of Arts Secretariat, Singapore Cultural Foundation, the Arts Division of MITA, the National Theatre Trust merged to form the National Arts Council. On 1 October 1994, the Singapore Broadcasting Authority was formed as a statutory board under MITA to oversee and promote the broadcasting industry in Singapore. On 23 November 2001, the information and communications technology functions under the Ministry of Communications and Information Technology came under MITA; the expanded Ministry was renamed the Ministry of Information and the Arts, but retained the acronym MITA. In that year, Infocomm Development Authority became one of MITA's statutory boards. On 1 January 2003, the Singapore Broadcasting Authority, Singapore Films Commission and Films and Publications Department merged to form the Media Development Authority. On 13 August 2004, the Ministry's acronym was changed from "MITA" to "MICA". On 1 November 2012, MICA was renamed the Ministry of Information; the move followed the restructuring of two previous ministries – MICA and the Ministry of Community Development and Sports – into MCI, the Ministry of Culture and Youth and the Ministry of Social and Family Development.
REACH was assimilated into MCI while the resilience and heritage portfolios became part of MCCY. MCI now oversees the development of the information and communications technology and design sectors, public libraries, the Government’s information and public communication policies. On 18 January 2016, MCI announced that the Infocomm Development Authority of Singapore and the Media Development Authority will be restructured into two new entities: The Infocommunications Media Development Authority and the Government Technology Organisation, in the second half of 2016. MCI has 2 statutory boards: Infocomm Media Development Authority of Singapore. National Library Board. MCI manages: DesignSingapore Council, a department in the ministry and the national agency for design. Cyber Security Agency, a national agency overseeing cybersecurity strategy, education and ecosystem development. Personal Data Protection Commission, Singapore's primary data protection authority. Official website of the Ministry of Communications and Information