OREANDA-NEWS. October 19, 2012. ICBC Singapore Branch received the Qualifying Full Bank ("QFB") licence from the Monetary Authority of Singapore. QFB is the highest level of licence issued to foreign banks by Singapore regulatory authority. Banks in Singapore with QFB licences have distinctive advantages. This is the first time that Singapore government issues QFB licence to a Chinese bank, reported the press-centre of ICBC.

ICBC Singapore Branch was established in 1993, the first overseas branch of ICBC Group. Over the course of nearly two decades, ICBC Singapore Branch has gained recognition for providing a full range of services to customers covering international settlement, trade finance, global cash management, cross-border RMB services, bank card and electronic banking.

To ICBC Singapore Branch, the QFB licence is significant. The Branch will take this opportunity to promote trade and investments between China and ASEAN countries, serve the customers through excellent services backed by ICBC's global product offering, cutting-edge technology and extensive distribution network.