Achi Biz GuidesSelf-Exclusion For Loan

Self-Exclusion Listing For Loans From Licensed Moneylenders In Singapore

Maids and foreign workers can get employers to bar them from taking up loans.

Foreign workers and Foreign Domestic Workers (FDW) also known as Maids can get employers to bar them from taking up loans from licensed moneylenders, under a self-exclusion framework similar to the one in place to stop individuals from entering casinos.

The self-exclusion facility is available from 15-July-2019 and individuals or third parties can apply through the Moneylenders Credit Bureau. By applying for it, an individual commits to not borrowing from licensed moneylenders in Singapore for a minimum of 2 years. This self-exclusion cannot be lifted within the 2 years, even if there is an urgent need to borrow.

The framework will stop licensed moneylenders from giving loans to Singapore citizens, permanent residents and foreign residents who are on this list.

Third parties such as employers of domestic helpers or employment agencies can apply for the exclusion on behalf of potential
borrowers only if consent is given by the individuals themselves, said the Ministry of Law in a briefing, giving details of the initiative that was announced in October 2018.

Self-Exclusion Listing Registration

MLCB self-exclusion listing is a service that allows individuals to voluntarily exclude themselves in applying unsecured personal
loans from licensed moneylenders.

To Apply for Registration	Clarifications
Who can apply for registration	Singaporean Singapore Permanent Resident (PR) Foreign Workers Foreign Domestic Workers (also known as Maids)
Where to apply	https://www.mlcb.com.sg
Who is authorised to apply as a third party on & behalf of others	Individual using SingPass Authorised Employer Authorised Employment Agency
What are the documents required	MLCB’s Application Identity proof A fee of SGD3/- for self-registration; or A fee of SGD5/- for registration by Employer or Employment Agency
Who should pay the fee	The worker; or The Employer may wish to absorb; or The Employment Agency may wish to absorb.
Is there any processing fee beyond the prescribed fee?	No. Employment Agency is not authorised to collect any processing fee beyond SGD5/- from either the Worker or the Employer.
Minimum period of commitment	2 Years
Can exclusion be lifted during commitment period	This self-exclusion cannot be lifted within the 2 years, even if there is an urgent need to borrow
Governing Body	Ministry Of Law
Effective Date	15-Jul-2019

To apply:

For Singaporean / Singapore Permanent Resident (PR) / Foreigners with a valid SingPass, please visit at https://www.mlcb.com.sg to proceed with the online registration.

For Foreigners without a valid SingPass, you may authorise another person with a valid SingPass to register on your behalf. Please note that the following documents are required for online registration:

An Application Form.
A documentation to prove your relationship with the authorised person.
A registration fee of SGD3 or SGD5/- (including GST)

Note: Please complete all sections including the “Authorisation to apply on behalf” section.

Once you have the above documents ready, the authorised person can proceed with the online registration.

During the online registration process, the authorised person will need to upload the above documents to the Moneylenders Credit Bureau (MLCB) for verification purpose.

Withdrawal of Self-Exclusion Listing

To Withdraw:

For Singaporean / Singapore Permanent Resident (PR) / Foreigners with a valid SingPass, please visit at https://www.mlcb.com.sg to proceed with the online withdrawal.

To Apply for withdrawal	Clarifications
Who can apply for withdrawal	Singaporean Singapore Permanent Resident (PR) Foreign Workers Foreign Domestic Workers (also known as Maids)
Where to apply	https://www.mlcb.com.sg
Who is authorised to withdraw as a third party on & behalf of others	Individual using SingPass; or Authorised Employer; or Authorised Employment Agency
What are the documents required	MLCB’s Application Identity proof A fee of SGD3/- for self-registration; or A fee of SGD5/- for registration by Employer or Employment Agency
Who should pay the fee	The worker; or The Employer may wish to absorb; or The Employment Agency may wish to absorb.
Is there any processing fee beyond the prescribed fee?	No. Employment Agency is not authorised to collect any processing fee beyond SGD5/- from either the Worker or the Employer.
How long after withdrawal is allowed?	Only after a minimum commitment period of 2 years
Governing Body	Ministry Of Law
Effective Date	15-Jul-2019

For Foreigners without a valid SingPass, you may authorise another person with a valid SingPass to withdraw on your behalf. Please note that the following documents are required for online withdrawal:

An Application Form.
A documentation to prove your relationship with the authorised person.
A fee of SGD3/- or SGD5/- (including GST) for withdrawal process

Note: Please complete all sections including the “Authorisation to apply on behalf” section.

Once you have the above documents ready, the authorised person can proceed with the online withdrawal.

During the online withdrawal process, the authorised person will need to upload the above documents to the Moneylenders Credit Bureau (MLCB) for verification purpose.

Please click on the below resources to learn more about:

Please refer to the below URL to learn more about Self-Exclusion from the Ministry Of Law:

https://www.mlaw.gov.sg/content/minlaw/en/news/press-releases/Press-Release-New-Measures-to-Stem-the-Increase-in-Moneylending-Activities-Targeting-Foreigners.html

Source of Information for all Work Passes & their related matters is from the Ministry Of Manpower & Ministry Of Law for the matters related to Loans.

You may wish to visit Ministry Of Manpower (MOM) and/or Ministry Of Law (MOL) online for detailed information and current updates.

Please CONTACT us if you wish to know more about this service or many other services.