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 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 Goh Chok Tong (Chairman), Lim Hng Kiang, Tharman Shanmugaratnam, Teo Ming Kian 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), Lim Hng Kiang, Tharman Shanmugaratnam, Teo Ming Kian 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 Teo Ming Kian (Chairman), Koh Yong Guan and Lucien Wong.

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), Peter Ong and Heng Swee Keat.