Ravi Menon, outgoing managing director of MAS / Photo credit: Institute of Policy Studies
Chia Der Jiun will be the new managing director of the Monetary Authority of Singapore (MAS), starting from January 1, 2024. He will also join the MAS board as a director.
He will replace Ravi Menon, who will retire from the post on December 31 this year. Menon has held the role since 2011 and worked toward positioning Singapore as a global fintech hub.
Menon has led several initiatives, such as improvements to the country’s electronic payment ecosystem, the implementation a regulatory sandbox, and the introduction of digital banking licenses.
Meanwhile, Chia is currently the permanent secretary for development at the Ministry of Manpower. He has held leadership roles in various MAS functions, such as monetary policy implementation, banking supervision, and macroeconomic surveillance.
He has also worked in different ministries and was seconded to the International Monetary Fund – a major financial agency of the United Nations – as executive director for Southeast Asia.
See also: How MAS-founded APIX is solving problems for regulators from India to Indonesia
Editing by Dhania Putri Sarahtika
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