Ravi Menon, the Managing Director of the Monetary Authority of Singapore (MAS), has been named the best central bank governor in Asia-Pacific for 2018 by UK-based magazine The Banker.
In the past, Finance Minister Heng Swee Keat was also given this award in 2011 when he was then MAS’ Managing Director.
Under Menon’s leadership, the MAS pursued a “cutting-edge regulatory approach to fintech while maintaining macroeconomic stability”, said The Banker.
It also banned several high-profile bankers for their role in the Malaysian 1MDB scandal, a scandal of global reach that has been called the biggest historical corruption and kleptocracy scandal in mankind’s history.
“You can only encourage technology to the extent that you can also contain and manage its risks. A smart financial centre must be a safe financial centre as well,” Menon said in an interview to the magazine.
MAS also sought to cool demand in Asia for cryptocurrencies, warning that investors should weigh up the significant risks before pouring money in.
–IANS