Even though the distinction between the nationalities of customers is widely perceived as discrimination and therefore mostly taboo, banks differentiate between Singapore and foreign applicants in their lending. However, at least Singaporean financial institutions are clearly limited by Singaporean law.
The fundamental rejection of any lending to a foreigner is in no case allowed. Violations of the principle of equal treatment do not take place in practice. Possible refusals of lending to a foreign loan seeker are usually based on objectively justified reasons such as an unclear or temporary residence status.
Lending to foreigners from other countries
Citizens from all other states of the Community and the member states of the country are subject to an absolute prohibition of discrimination. This means that no bank is allowed to deny credit to an applicant who is a national of acountry or a country because he is a foreigner. True opportunities for …