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Monetary Authority of Singapore

The Monetary Authority of Singapore or (MAS), is the central bank and financial regulatory authority of Singapore. It administers the various statutes pertaining to money, banking, insurance, securities and the financial sector in general, as well as currency issuance and manages the foreign-exchange reserves. It was established in 1971 to act as the banker to and as a financial agent of the Government of Singapore. The body is duly accountable to the Parliament of Singapore through the Minister-in-charge, who is also the Incumbent Chairman of the central bank. History The Monetary Authority of Singapore (MAS) was founded in 1971 to oversee various monetary functions associated with banking and finance. Prior its establishment, monetary functions were performed by government departments and agencies. The acronym MAS resembles mas, the word for 'gold' in Malay, Singapore's national language...

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wikidata.org 0 views · 2024-12-26 22:55:23

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