Monetary Authority Of Singapore (Mas)
| The Monetary Authority of Singapore (MAS) is the central bank of Singapore that oversees the money supply and maintains the inflation rate, currency value, and interest rates. MAS was established on 1 January 1971, and its main objective is to promote sustained non-inflationary economic growth, and a sound and progressive financial centre. MAS is also responsible for the regulation and supervision of financial institutions in Singapore, and the development of the financial sector. In addition, MAS manages Singapore's exchange rate, official foreign reserves, and liquidity in the banking system. MAS is headed by a Managing Director, and its Board of Directors comprises the Deputy Managing Directors, the Assistant Managing Directors, and up to six other members. The Board is responsible for MAS' overall direction and policy formulation. The Monetary Authority of Singapore has a wide range of responsibilities, which includes the following: - Overseeing the banking system and ensuring its stability - Managing Singapore's foreign reserves - Regulating and supervising financial institutions - Developing the financial sector - Promoting sustained non-inflationary economic growth |
Share this glosssary
