Document background
The Account Balance Confirmation Letter is a crucial document in Singapore's banking system, typically requested during annual audits, due diligence processes, or for regulatory compliance. It provides third-party verification of an account holder's financial position, detailing account balances and other relevant financial information as of a specific date. The document must comply with Singapore's Banking Act, MAS guidelines, and data protection regulations, making it a legally recognized confirmation of financial status. These letters are commonly used for business reporting, loan applications, and regulatory submissions.
