|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:
Meeting makes decisions on major changes to the
and supervisory policies. The meeting also approves
to policies and strategies relating to financial centre development, and international
and regional relations.
Meeting comprises Goh Chok Tong (Chairman), Lim
Hng Kiang, Tharman Shanmugaratnam,
Lim Siong Guan and Heng Swee Keat.
Monetary and Investment
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), Lim Hng Kiang, Tharman
Shanmugaratnam, Lim Siong Guan, Lee Ek Tieng1 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),
Chao Hick Tin and Lucien Wong.
The Risk Committee
provides oversight and guidance on the management
faced by MAS. The Committee oversees the MAS-wide risk management framework,
and reviews MAS’ risk management policies and processes for the reporting
The Risk Committee comprises Lim Chee Onn (Chairman),
Chao Hick Tin and Heng Swee Keat.
1 Lee Ek Tieng
is presently Group Managing Director of the Government
of Singapore Investment Corporation.