Page 33 - Bullion World Issue 11 March 2022_Neat

Bullion World | Issue 11 | March 2022

Mr KL Yap
Chairman SBMA

SBMA update

We have 48 members as of 31st, december
,2021, one join in January 2022 and 3-5
potential members in the midst application.
Revised constitution approved on 7th Feb to
empower the membership and management
committee to have more discretion in
approving qualifying entities to be part of the
SBMA.

We expect to see a more diverse membership
base in the coming years as we connect further
and deeper into the bullion community in
ASEAN countries. General collaboration, we
will continue to strengthen our connectivity
with LBMA. And promoting transparent and
fair practice among retail investment service
providers with help of the world gold council.
Working closely with the ministry to help to
understand and enforce the AML and CFT
initiative. Closely with ESG to build Singapore
as a metal hub.

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