Singapore names Deputy Prime Minister Lawrence Wong as chairman of the central bank

The Monetary Authority of Singapore (MAS) named Deputy Prime Minister Lawrence Wong arsenic president of its committee of directors effectual July 8.

Wong, who is the country's concern minister, volition regenerate Tharman Shanmugaratnam, who held the relation for 12 years since May 2011, the merchandise said.

MAS is the country's fiscal regulator and cardinal bank.

Wong, who was lawman president of MAS since June 2021, volition service arsenic president until May 31, 2026, according to the property release.

Singapore's Minister for Trade and Industry Gan Kim Yong volition beryllium appointed lawman president of the MAS Board for the aforesaid period, from July 8 to May 31, 2026.

Singapore's Straits Times index saw a bounce soon aft the announcement, paring earlier losses and past traded 0.33% higher.

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