Who is eligible. The Employment Pass is for foreign professionals who: 1  Have a job offer in Singapore. 2  Work in a managerial, executive or specialised job. 3  Earn a fixed monthly salary of at least $3,300 (more experienced candidates need higher salaries).pplication for an Employment Pass is open to all nationalities. Use the Self-Â­Assessment Tool (SAT) to check if the candidate qualifies for the pass. Note on salaries: 1  Young graduates from good institutions can qualify if they earn at least $3,300. 2  Older, more experienced candidates need higher salaries to qualify.
DEFINITION of 'Covered Bond'. Securities created from public sector loans or mortgage loans where the security is backed by a separate group of loans.
DEFINITION of 'Bond Insurance'. A type of insurance policy that a bond issuer purchases that guarantees the repayment of the principal and all associated interest payments to the bondholders in the event of default.Bond issuers buy insurance to enhance their credit rating to 'AAA' in order to reduce the amount of interest that it needs to pay.REAKING DOWN 'Bond Insurance'. Once bond insurance has been purchased, the issuer's bond rating will no longer be applicable and instead, the bond insurer's credit rating will be applied to the bond instead.