Singapore has issued a new advisory for all financial institutions (FI) to reduce risks of further local transmission of Covid-19.
According to the Monetary Authority of Singapore (MAS), financial institutions are required to implement safe distancing measures across all operations.
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The move includes ensuring wider physical spacing between staff at workstations and segregating lunch hours.
If possible, the FIs are encouraged to allow staff to work from home.
The banks were also asked to encourage customers to use online channels and reduce footprint at branches.
The advisory includes providing priority services to the old and pregnant customers; and limiting customer waiting times at the locations.
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By GlobalData“FIs were asked to strengthen their measures to meet the latest advisory from MAS, as well as the relevant guidance issued by the Ministry of Health, the Ministry of Manpower and Enterprise Singapore.
“This will help to safeguard the health of customers and ensure the financial sector’s continued operational resilience during the COVID-19 outbreak,” the MAS statement added.
All non-essential events will also be cancelled or postponed, as a result of this advisory.
Notably, the number of Covid-19 cases in Singapore have increased to 509.
In another development, Singapore and Australia agreed to improve to data connectivity in financial services.
The deal is expected to help the FIs of the two countries in exchanging information.
