Ravi Menon Focuses on Innovation, Technology, and Sustainability for His Next Chapter
Ravi Menon, the longest-serving Managing Director of the Monetary Authority of Singapore (MAS), has firmly ruled out entering politics after stepping down at the end of this year. In an interview with Bloomberg News, Menon emphasized that there are many meaningful ways to contribute to society outside of political office, despite the exemplary role played by Singapore’s current finance minister.
Menon, 59, who has been at the helm of MAS for years, reiterated his lack of interest in running for political office, a stance he first expressed in 2021. While some of his predecessors, such as Heng Swee Keat and Tharman Shanmugaratnam, transitioned from MAS to high-level political roles, Menon remains focused on other avenues for making an impact.
When asked about his future plans, Menon highlighted his passion for innovation, technology, social inclusion, and climate action. He intends to contribute to these fields in his post-MAS career.
Additionally, Menon shared his advice for his successor, Chia Der Jiun, urging him to embrace innovation and not shy away from making bold decisions, even if it means revisiting past choices.
Regarding the recent $2.8 billion money-laundering case that has raised concerns about Singapore’s role as a wealth hub, Menon emphasized that no financial center is completely clean, but Singapore has responded decisively to clear any “dirt” and maintain market integrity. He reassured that the case hasn’t caused significant “de-risking” or deterrence in the banking sector, though there has been increased scrutiny, which Menon sees as a positive development.
In the evolving digital assets space, Menon defended MAS’ approach to crypto regulation, affirming that licensing crypto exchanges is the most effective way to enforce regulations and protect consumers while maintaining market integrity.
