24.03.2016 - Differences between the Monetary Authority of Singapore and the Ministry of Finance
Everyone must have heard of the Monetary Authority of Singapore (MAS) and the Ministry of Finance (MOF) in Singapore. They are two key entities in the local financial scene and greatly impact everyone living in Singapore. But do people really understand what these two entities do and how they differ? Singapore's reserves are managed by the MOF and distributed to three entities - MAS, GIC and Temasek. MAS manages Singapore's foreign reserves. GIC and Temasek are fund management entities with the objective of achieving long-term returns to Singapore's assets. Note that CPF monies are also distributed to GIC and MAS for investments...............................................Full Article: Source
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