Retiring MAS managing director Ravi Menon spoke at a financial sector event, thanking the industry for the relationship built with the city-state’s regulator.
On October 19, Monetary Authority of Singapore’s (MAS) managing director, Ravi Menon, spoke at an event in the evening hosted by the Institute of Banking and Finance (IBF). Menon, who is retiring from his MAS role on 1 January 2024, made remarks about the regulator-industry relationship in the city-state, relative to other markets.
«In a world where many regulators are aloof at best and hostile at worst when dealing with the financial industry, the relationship MAS has with the industry is special. MAS has been fortunate to have an industry that has continually worked with us through thick and thin,» Menon said in a statement published online.
Talent Development
In addition, Menon also commented about the role that IBF played in talent development.
«[IBF] is probably the first of its kind globally, where the skills required for various finance roles were mapped out comprehensively for the industry as a whole. Today, many financial institutions use the IBF Standards to help design their own in-house learning programs,» he noted.
The event was attended by industry participants across banks, insurers, asset managers and financial advisors. Other prominent figures outside the industry were also present, such as Deputy Prime Minister Heng Swee Keat.
