MAS launches gold vaulting service with 500-tonne capacity, extends GST waiver to some gold services

AI Summary

The Monetary Authority of Singapore has launched a gold-vaulting service with capacity for 500 tonnes, aimed at foreign central banks, financial institutions, and sovereign entities. Singapore is also extending a GST waiver to certain gold-related services.

The service aims to provide foreign central banks, international financial institutions, and sovereign entities with a secure option to hold gold reserves in Singapore.