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Box Story 12

MAS Peer Groups – Honing Specialist Knowledge

Peer Groups were set up in MAS in 2006 to deepen and share knowledge in specialist subject areas which are important to MAS’ work, harness cross-departmental knowledge development and sharing, as well as provide staff with professional development opportunities in specialised areas.

To develop and raise the level of specialist knowledge of staff, Peer Groups assist the MAS Academy in organising and delivering various in-house technical training programmes. In 2009, these programmes included workshops on risk management in Islamic finance, a mini risk conference on market risk measurement and management, and a seminar on the latest initiatives and developments in stress testing modeling and practice.

The Peer Groups also contribute actively to supervisory work. For example, the Islamic Banking Peer Group conducted study visits on Islamic banking activities and drafted an Islamic Banking Inspection Manual. The Anti- Money Laundering and Counter-Terrorism Financing (AML/CFT) Peer Group provided expert views for MAS’ representation at international meetings such as the Financial Action Task Force. The Accounting Standards and Fund Management Peer Groups also work with industry associations or international regulatory bodies on issues that are relevant to MAS.

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