Overview
Our Mission
To promote sustained non-inflationary economic growth, and a sound and progressive financial centre.
Our Functions
-
To act as the central bank of Singapore, including the conduct of monetary policy, the issuance of currency, the oversight of payment systems and serving as banker to and financial agent of the Government
-
To conduct integrated supervision of financial services and financial stability surveillance
-
To manage the official foreign reserves of Singapore
-
To develop Singapore as an international financial centre
Our Values
- Integrity: We are trustworthy and professional.
- Commitment: We do our best for MAS and Singapore.
- Enterprise: We set high standards and innovate continually.
- Teamwork: We achieve more together.
Our Conduct
- Personal and professional behaviour
We uphold the highest standards of conduct and behaviour in and outside MAS to safeguard MAS' reputation and interests. In all our dealings, we are guided by the principles of fairness, integrity, and professionalism.
- Duty of confidentiality
We safeguard, at all times, the confidentiality of documents and information obtained during the course of our employment with MAS and even after we leave MAS.
- Conflicts of interest
We avoid situations that may give rise to actual, potential, or perceived conflicts of interest. We take appropriate steps to mitigate potential conflicts of interest where such conflicts are unavoidable.
- Use of MAS' resources
We use all MAS' resources, including financial, intellectual and electronic assets, in a responsible and appropriate manner.
Please click on link for more details on MAS' Code of Conduct. In line with our values, we support and foster a culture of zero tolerance towards fraud and other misconduct, and will look into all feedback received on such matters involving MAS staff.
Our History
Prior to 1970, the various monetary functions associated with a central bank were performed by several government departments and agencies. As Singapore progressed, the demands of an increasingly complex banking and monetary environment necessitated streamlining the functions to facilitate the development of a more dynamic and coherent policy on monetary matters. Therefore in 1970, Parliament passed the Monetary Authority of Singapore Act leading to the formation of MAS on 1 January 1971. The passing of the MAS Act gave MAS the authority to regulate the financial services sector in Singapore.
The MAS has been given powers to act as a banker to and financial agent of the Government. It has also been entrusted to promote monetary stability, and credit and exchange policies conducive to the growth of the economy.
In April 1977, the Government decided to bring the regulation of the insurance industry under the wing of the MAS. The regulatory functions under the Securities Industry Act (1973) were also transferred to MAS in September 1984.
The MAS now administers the various statutes pertaining to money, banking, insurance, securities and the financial sector in general. Following its merger with the Board of Commissioners of Currency on 1 October 2002, the MAS has also assumed the function of currency issuance.
Our Leaders
|
Chairman
|
Term of Office
|
|
Hon Sui Sen
|
Jan 1971 - Jul 1980
|
|
Goh Keng Swee
|
Aug 1980 - Jan 1985
|
|
Richard Hu
|
Jan 1985 - Dec 1997
|
|
Lee Hsien Loong
|
Jan 1998 - Aug 2004
|
|
Goh Chok Tong
|
Aug 2004 - May 2011
|
|
Tharman Shanmugaratnam
|
May 2011 - Present
|
|
Managing Director
|
Term of Office
|
|
Michael Wong Pakshong
|
Dec 1970 - Feb 1981
|
|
Lim Kim San
|
Mar 1981 - Sep 1982
|
|
Yong Pung How
|
Oct 1982 - Jun 1983
|
|
Richard Hu
|
Jul 1983 - Dec 1984
|
|
Goh Keng Swee
|
Jan 1985 - Apr 1985
|
|
J.Y. Pillay
|
Apr 1985 - Oct 1989
|
|
Lee Ek Tieng
|
Nov 1989 - Dec 1997
|
|
Koh Yong Guan
|
Jan 1998 - Mar 2001
|
|
Tharman Shanmugaratnam
|
Apr 2001 - Oct 2001
|
|
Koh Yong Guan
|
Oct 2001 - May 2005
|
|
Heng Swee Keat
|
Jun 2005 - Apr 2011
|
|
Ravi Menon
|
Apr 2011 - Present
|