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 Chairman's Meeting approves major changes to MAS' supervisory policies and regulatory framework. It also approves major changes to policies and strategies relating to financial centre development and international and regional relations. The Chairman's Meeting comprises Tharman Shanmugaratnam (Chairman), Lim Hng Kiang, Heng Swee Keat, Lawrence Wong and Ravi Menon.
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 Tharman Shanmugaratnam (Chairman), Lim Hng Kiang, Heng Swee Keat, Lawrence Wong and Ravi Menon.
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 Quek See Tiat (Chairman), Peter Ong and Tan Chorh Chuan.
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 processes for reporting of risks. The Risk Committee comprises Lim Chee Onn (Chairman), Tan Chorh Chuan and Ravi Menon.
The Staff Committee approves MAS' key personnel policies, including overall pay policy. It also approves matters relating to the appointment, promotion and remuneration of senior management staff. The Staff Committee comprises Tharman Shanmugaratnam (Chairman), Lim Hng Kiang, Heng Swee Keat and Ravi Menon.
As at 1 July 2014