OPINION: Singapore’s NDF scandal ain’t what you think - Jame DiBiasio

FinanceAsia.com, 14 Feb 2013
The NDF problems are a result of complaints by Singapore’s neighbours, whose central bankers hate the idea that banks in the city-state are undermining their capital controls by creating alternative valuations. NDF markets exist because of immature or repressed capital markets onshore. They are a symptom of Southeast Asian countries’ poor record in financial management, not a cause.
The MAS will surely tread carefully here: Singapore cannot afford to be perceived by the neighbours a haven of rapacious, hostile financiers. But if governments in Kuala Lumpur, Jakarta and elsewhere persist in trying to stamp out NDF trading, they will only hurt themselves. Full story
There was an error in this gadget