MAS makes exception for car loans
The Monetary Authority of Singapore or M-A-S will exempt the recently introduced car loan restrictions for the physically disabled and their caregivers for one car.
This was also revealed by Mr Tharman in Parliament today.
It follows calls by MPs, like Ang Mo Kio MP Dr Intan Azura Mokhtar, who have highlighted the difficulties of these familes to get around.
Mr Tharman said the M-A-S will provide more details of the exemption soon.
He said the central bank cannot liberalise further at this point without undermining one of the important reasons for the new loan rules.
That is, to cool demand and the skyrocketing Certificate of Entitlement prices, which the minister said have gone up between 40 and 60 per cent over the past two years.
The rise in COE prices he added, have also been a major contributor of inflation in Singapore.
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