The European banking committee in Singapore was founded in March 2006 by a goup of leading European banks. The general purpose of this committee is to establish a link between European companies and Singaporean Monetary Authorities, organize information meeting, network, and assist EuroCham to become a relevant mediator between the European banking community and the Monetary Authority of Singapore (MAS).

Working Plan:

1. EuroCham wants to establish a communication channel between the EU banking community and MAS on EU Savings Tax.
2. EuroCham would like to try and create awareness in Europe and Singapore for the sensitivity of this matter and act as a facilitator for informal exploratory discussions between the EU and Singapore, so that when the official EU-ASEAN negotiations begin, both sides already have an idea of what compromises might be achievable.
3. EuroCham should also act as the speaker of the EU banking community in Singapore to assure both EU and Singapore that the banking community is interested and ready to contribute towards a better understanding of the positions of both parties.