Role of MAS enhanced with Banking Amendment Bill

- Central Banking staff
- 22 Jan 2007

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The Monetary Authority of Singapore's role as the central bank was enhanced on Monday 22 January when Parliament passed the Banking Amendment Bill, Channel News Asia reported.

The bill will revise the scope of MAS' powers to address emerging issues, the report said.

According to the Minister for Trade and Industry and MAS Deputy Chairman Lim Hng Kiang, the Bill would enable the MAS to strengthen Singapore's position as a international financial hub.

Lim told parliament: "Our aim is not so much to

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