Mr Tharman Shanmugaratnam
Chairman
Senior Minister and Coordinating Minister for Social Policies
Board of Directors
The Board of Directors is responsible for the policy and general administration of the affairs and business of MAS and informs the Government of the regulatory, supervisory and monetary policies of the MAS.
Role of the Board
The Monetary Authority of Singapore (MAS) has operational autonomy. Under the MAS Act, the Board of Directors of MAS is appointed by the President. The Chairman of the Board is appointed by the President on the recommendation of the Cabinet.
The Board of Directors is responsible for the policy and general administration of the affairs and business of MAS and informs the Government of the regulatory, supervisory and monetary policies of the MAS. The Board is ultimately accountable to the Parliament of Singapore through the Minister-in-charge of MAS.
Mr Lim Hng Kiang
Deputy Chairman
Special Advisor, Ministry of Trade and Industry
Mr Heng Swee Keat
Board Member
Deputy Prime Minister & Minister for Finance
Mr Ong Ye Kung
Board Member
Minister for Education
Mr Quek See Tiat
Board Member (Chairman of Audit Committee)
President, Council for Estate Agencies
Mr Peter Ong Boon Kwee
Board Member (Chairman of Risk Committee)
Chairman, Enterprise Singapore
Professor Tan Chorh Chuan
Board Member
Chief Health Scientist, Ministry of Health
Executive Director, MOH Office for Healthcare Transformation
Executive Director, MOH Office for Healthcare Transformation
Mr V K Rajah
Board Member
Senior Counsel and Member of Essex Court Chambers Duxton (Singapore Group Practice)
Mr Lucien Wong
Board Member
Attorney-General, Attorney-General's Chambers
Mr Chaly Mah
Board Member
Chairman, NetLink NBN Management Pte Ltd
Mr Ravi Menon
Board Member
Managing Director, MAS
Senior Advisor to MAS
Mr Goh Chok Tong
Emeritus Senior Minister
Board 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, international and regional relations, and payment and settlement systems operated by MAS.
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.
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 Mr Quek See Tiat (Chairman), Professor Tan Chorh Chuan and Mr Chaly Mah.
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 Mr Peter Ong (Chairman), Professor Tan Chorh Chuan, Mr V K Rajah, Mr Ravi Menon and Mr Quek Gim Pew (non-Board member).
Staff Committee
The Staff Committee approves the appointment, promotion and compensation of senior management staff. The Committee also approves key personnel policies, including overall pay policy.