Experts: By reprimanding the 20 banks, MAS protected Singapore’s reputation as a financial centre

By reprimanding the 20 banks for attempted rate rigging, the Monetary Authority of Singapore showed that it had tried its utmost to protect Singapore’s reputation as a financial centre. On this, SMU Vice President (Business Development and External Relations) and Associate Professor of Finance Annie Koh commented that as a global financial centre, Singapore has to show that its financial regulations are transparent and not manipulated by the market.