The Managing Director of Monetary Authority of Singapore (MAS) was recognised the leading UK based magazine ‘The Banker’ for his efforts in the makeover of the financial system of Singapore.
- The reason for selecting Ravi Menon was that the MAS, country’s central bank, stands out for its cutting-edge regulatory approach to fintech while maintaining macroeconomic stability.
- Singapore’s Finance Minister Heng Swee Keat was also named the best banker in 2011. He was then as MAS’s managing director.
- Over the last three years, the central bankers of Vietnam, India and Bangladesh were named for the recognition.
- The article noted that the MAS was among the first regulators to set up a dedicated fintech group that focuses on understanding technology’s risks and benefits.