Which institution is Singapore’s central bank and financial regulator?

The Monetary Authority of Singapore is Singapore’s central bank and financial regulator.

The Monetary Authority of Singapore, commonly abbreviated MAS, was established in 1971 by merging several government functions related to money and banking. Unlike many central banks, MAS combines central-banking responsibilities with broad regulation of financial institutions and markets.

MAS manages Singapore’s official foreign reserves and conducts monetary policy primarily through the exchange rate rather than a conventional short-term interest-rate target. This approach reflects Singapore’s highly open economy, where international trade and capital flows are especially important.

The institution also regulates banks, insurers, securities markets, and payment systems. It should not be confused with the Ministry of Finance, which handles national fiscal policy, or the Singapore Exchange, which operates the country’s securities market.