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| Board Committees |
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| The MAS Act provides
that the Board of Directors shall be responsible for the policy and
general administration of the affairs and business of MAS. The board
is assisted by the following 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, and international and regional relations. The Chairman’s Meeting comprises Goh Chok Tong (Chairman), Tharman Shanmugaratnam, Lim Siong Guan, Koh Yong Guan1 and Heng Swee Keat. 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. The Monetary and Investment Policy Meeting comprises Goh Chok Tong (Chairman), Tharman Shanmugaratnam, Lim Siong Guan, Lee Ek Tieng2, Koh Yong Guan1 and Heng Swee Keat. 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 Lim Siong Guan (Chairman), Chan Seng Onn and Dr Philip N Pillai. 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 Lim Chee Onn (Chairman), Chan Seng Onn and Heng Swee Keat.
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