|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:
The Chairmans 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 Chairmans
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
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.
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.
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.
|| Koh Yong Guan was a member of
the Chairmans Meeting and Monetary and Investment Policy
Meeting until 31 May 2005.
|| Lee Ek Tieng is presently Group
Managing Director of the Government of Singapore Investment