Wealth-Bulletin.com, 25 Nov 2008, David Bain
"Singapore has ferocious banking secrecy laws that has helped its wealth managers accumulate $250bn (€194bn) of assets last year, way ahead of $100bn in 2005.
The wealth boom in Asia during the last fi ve years has proved to be an additional fillip to Singapore’s growth.
Wealthy Europeans particularly like the city state because it is not subject to the European Union’s savings tax directive on off shore accounts aff ecting places like Switzerland and Luxembourg.
Middle East citizens also see Singapore as a safe and attractive place."
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