MAS sets up 26-member Financial Centre Advisory Panel

THE Monetary Authority of Singapore (MAS) has set up a 26-member Financial Centre Advisory Panel (FCAP) consisting of leaders from the banking, insurance and asset-management industries.

FCAP will enhance the dialogue between MAS and the financial industry as well as boost growth and facilitate the development of Singapore's financial centre.

Chaired by MAS managing director Ravi Menon, the panel will give MAS advice in two areas - asset class strategies and cross-sectoral strategies.

Other members of FCAP include Singapore Exchange chief executive officer Loh Boon Chye, DBS Bank chief executive officer Piyush Gupta, Great Eastern Life Assurance Co's Singapore CEO Khoo Kah Siang and Aberdeen Asset Management Asia managing director Hugh Young.

Members have been appointed for a two-year term.

Mr Menon said: "MAS has a strong tradition of consultation with the financial industry. Given the rapid changes in the global financial landscape, we need to deepen our partnership with the industry to better anticipate trends, co-create policies, and chart strategies for the future."

He added: "MAS looks forward to tapping on the insights and experience of FCAP members, to help grow Singapore as a leading international financial centre that provides significant opportunity for Singaporeans working in finance."