Board of Directors

The Monetary Authority of Singapore (MAS) has operational autonomy.  Under the MAS Act, the Board of Directors of MAS is appointed by the President. The Chairman of the Board is appointed by the President on the recommendation of the Cabinet. The Board of Directors is responsible for the policy and general administration of the affairs and business of MAS and informs the Government of the regulatory, supervisory and monetary policies of the MAS. The Board is ultimately accountable to the Parliament of Singapore through the Minister-in-charge of MAS.

Mr Tharman Shanmugaratnam


Senior Minister and
Coordinating Minister for Social Policies

Mr Lim Hng Kiang

Deputy Chairman

Special Advisor, Ministry of Trade and Industry

Mr Heng Swee Keat

Board Member

Deputy Prime Minister and
Minister for Finance

Mr Ong Ye Kung

Board Member

Minister for Education

Mr Quek See Tiat

Board Member (Chairman of Audit Committee)

President, Council for Estate Agencies

Mr Peter Ong Boon Kwee

Board Member (Chairman of Risk Committee)

Chairman, Enterprise Singapore

Professor Tan Chorh Chuan

Board Member

Chief Health Scientist, Ministry of Health
Executive Director, MOH Office for Healthcare Transformation

Mr V K Rajah

Board Member

Senior Counsel and
Member of Essex Court Chambers Duxton (Singapore Group Practice)

Mr Lucien Wong

Board Member

Attorney-General, Attorney-General's Chambers

Mr Chaly Mah

Board Member

Chairman, NetLink NBN Management Pte Ltd

Mr Ravi Menon

Board Member

Managing Director, MAS

Senior Advisor to MAS

Mr Goh Chok Tong
Emeritus Senior Minister


Board Committees

Chairman's Meeting

The Chairman's Meeting makes decisions on major changes to the regulatory framework and supervisory policies.  The Meeting also approves major changes to policies and strategies relating to financial centre development, international and regional relations, and payment and settlement systems operated by MAS. 


Monetary and Investment Policy Meeting

The Monetary and Investment Policy Meeting deliberates and decides on issues relating to the formulation and implementation of monetary policy with the objective of maintaining price stability for sustainable economic growth.  The Meeting also oversees the investment of MAS' reserves.


Audit Committee

The Audit Committee provides an independent assessment of MAS' internal controls and financial reporting process. The Committee also reviews the efforts of MAS' internal and external auditors. The Audit Committee comprises Mr Quek See Tiat (Chairman), Professor Tan Chorh Chuan and Mr Chaly Mah.


Risk Committee

The Risk Committee provides oversight and guidance on the management of risks faced by MAS. The Committee oversees the MAS-wide risk management framework, and reviews MAS' risk management policies and the processes for reporting of risks. The Risk Committee comprises Mr Peter Ong (Chairman), Professor Tan Chorh Chuan, Mr V K Rajah, Mr Ravi Menon and Mr Quek Gim Pew (non-Board member).


Staff Committee

The Staff Committee approves the appointment, promotion and compensation of senior management staff. The Committee also approves key personnel policies, including overall pay policy.


Last Modified on 01/06/2018