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.
MAS Building on Shenton Way, headquarters of the Monetary Authority of Singapore.
Image: Lee Hsien Loong 20101112
Image: Goh Chok Tong Washington DC 20010614
Image: Tharman Shanmugaratnam at the official opening of Yuan Ching Secondary School's new building, Singapore 20100716 (cropped)
A central bank, reserve bank, national bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the monetary base. Many central banks also have supervisory or regulatory powers to ensure the stability of commercial banks in their jurisdiction, to prevent bank runs, and in some cases also to enforce policies on financial consumer protection and against bank fraud, money laundering, or terrorism financing.
Walter Bagehot, influential 19th-century theorist of the economic role of central banks
Interior of the Llotja de Barcelona where the city's Taula de canvi was operated
The Bank of England in 1791
The Bank of Finland in Helsinki