Singapore: Standard Chartered has brought out a share financing plan in Singapore, which will permit individuals to have a loan of up to 10 times their monthly salary

Offered in cooperation with Singapore stock brokerages Phillip Securities and Lim & Tan Securities, the Standard Chartered plan allows capitalists get financing at the same they purchase their shares.

In a statement, Standard Chartered bank said, “There are some 250,000 active share investors in Singapore, and the number is expected to grow as Singaporeans become increasingly financially savvy.”

Head of consumer banking for Standard Chartered in Singapore, Ajay Kanwal, said that the share-financing plan will be made available to other brokers in Singapore.

UK-based StanChart that is listed on both the London as well as Hong Kong stock exchanges gets the major part of its incomes from Asia and the Middle East.

According to the bank’s interim earnings statement, Singapore accounted for 14% of that bank’s $788 million in operating profit from consumer banking, for the six months to June.