Monetary Authority of Singapore (MAS)

Basic Information

The Monetary Authority of Singapore (MAS) is Singapore’s central bank and integrated financial regulator. Established on 1 January 1971, MAS oversees monetary policy, financial stability, and the regulation of financial institutions in Singapore. Its official website, mas.gov.sg, serves as a comprehensive resource for financial regulations, policy statements, and consumer advisories. MAS operates under the oversight of the Prime Minister’s Office and is headquartered at 10 Shenton Way, MAS Building, Singapore 079117.

Historical Background

MAS was formed through the Monetary Authority of Singapore Act (1970), consolidating monetary functions previously managed by various government agencies. Before its establishment, Singapore’s financial system was fragmented, necessitating a unified regulatory body to oversee banking, insurance, and securities. In 1977, MAS expanded its mandate to include insurance regulation, followed by securities oversight in 1984. A significant milestone occurred in 2002 when MAS merged with the Board of Commissioners of Currency, gaining authority over currency issuance.

Legal Authority and Regulatory Framework

MAS derives its regulatory powers from several key statutes, including:

The Monetary Authority of Singapore Act (primary enabling legislation)
The Banking Act (governing banking institutions)
The Securities and Futures Act (regulating capital markets)
The Payment Services Act (covering digital payments and cryptocurrencies)
The Financial Services and Markets Act (enhancing oversight of fintech innovations)

MAS employs a risk-based supervisory approach, ensuring compliance through legislation, regulations, and enforcement actions.

Key Responsibilities and Regulatory Scope

MAS performs multiple critical functions:

Monetary Policy: Manages the Singapore dollar’s exchange rate to ensure price stability.
Financial Supervision: Regulates banks, insurers, capital market intermediaries, and fintech firms.
Financial Stability: Monitors systemic risks and implements macroprudential measures.
Currency Issuance: Oversees the production and circulation of Singapore dollar notes and coins.
Anti-Money Laundering (AML): Enforces strict AML and counter-terrorism financing (CFT) standards.
Investor Protection: Promotes fair dealing and transparency in financial markets.

Contact Information

MAS operates across multiple jurisdictions with the following key offices:

Singapore Headquarters: 10 Shenton Way, MAS Building, Singapore 079117. Tel: +65 6225 5577.
New York Office: 17 State Street, 35th Floor, Unit 3530, New York 10004. Tel: +1 212 809 1900.
London Office: 1st Floor Old Change House, 128 Queen Victoria Street, London EC4V 4BJ. Tel: +44 (0)20 7332 6300.
Beijing Office: Level 15, Units 10-14, China World Office 1, 1 Jianguomenwai Avenue, Chaoyang District, Beijing 100004. Tel: +86 (10) 6505 0650.
Shanghai Office: Floor 24, Unit 06B, Jin Mao Tower, 88 Century Boulevard, Pudong New District, Shanghai 200121. Tel: +86 (21) 6162 5811.

How to Verify a Firm’s Regulatory Status

To confirm whether a financial institution is regulated by MAS:

Visit the Financial Institutions Directory on MAS’s official website.
Search by the firm’s name or license number.
Cross-check the firm’s details, including authorized activities and regulatory status.
For additional verification, contact MAS via their Guided Query Form or helpline at +65 6225 5577.