Board Committees
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.

1 Koh Yong Guan was a member of the Chairman’s Meeting and Monetary and Investment Policy Meeting until 31 May 2005.
2 Lee Ek Tieng is presently Group Managing Director of the Government of Singapore Investment Corporation.