Singapore names DPM Lawrence Wong as chairman of the central bank

• The Monetary Authority of Singapore, the city-state’s financial regulator and central bank, has named Deputy Prime Minister Lawrence Wong as chairman of its board of directors effective July 8.
• Wong, who is the country’s finance minister, will replace Tharman Shanmugaratnam, who held the role for 12 years since May 2011, the release said.
• Shanmugaratnam announced in Jun 23 that he will be running in presidential elections in Singapore, which must be held by mid-September. The president role is largely symbolic and ceremonial.
• Wong, who was deputy chairman of MAS since June 2021, will serve as chairman until May 31, 2026, according to the press release. He previously served as a member of the MAS Board from June 2011 to August 2016.
• Singapore’s Minister for Trade and Industry Gan Kim Yong will be appointed deputy chairman of the MAS Board for the same period, from July 8 to May 31, 2026.

External Link : https://www.cnbc.com/2023/07/03/mas-names-lawrence-wong-as-chairman-of-board-directors.html