MAS chief to head BIS' Asian Consultative Council

MAS chief Ravi Menon will chair the Asian Consultative Council for two years. BT FILE PHOTO
MAS chief Ravi Menon will chair the Asian Consultative Council for two years. BT FILE PHOTO

Monetary Authority of Singapore (MAS) managing director Ravi Menon has been appointed chairman of the Bank for International Settlements' (BIS) Asian Consultative Council (ACC) for two years.

The ACC is a vehicle for communication between BIS and its member central banks in the Asia-Pacific region. It also provides guidance for the research and banking activities of the BIS' Asian office.

Mr Menon succeeds Bank of Thailand governor Veerathai Santiprabhob, who has chaired the council since September 2017.

The ACC consists of the governors of BIS member central banks in the region - Australia, China, Hong Kong, India, Indonesia, Japan, South Korea, Malaysia, New Zealand, the Philippines, Singapore and Thailand.

The BIS helps central banks and other financial authorities develop a better understanding of the world economy and supports the pursuit of global financial stability.

In June, BIS announced it will set up an innovation centre in Singapore.

A version of this article appeared in the print edition of The Straits Times on September 20, 2019, with the headline 'MAS chief to head BIS' Asian Consultative Council'. Print Edition | Subscribe