Under Menon’s leadership, the MAS pursued a “cutting-edge regulatory approach to fintech while maintaining macroeconomic stability”, said The Banker.
It also banned several high-profile bankers for their role in the Malaysian 1MDB scandal, a scandal of global reach that has been called the biggest historical corruption and kleptocracy scandal in mankind’s history.
“You can only encourage technology to the extent that you can also contain and manage its risks. A smart financial centre must be a safe financial centre as well,” Menon said in an interview to the magazine.
MAS also sought to cool demand in Asia for cryptocurrencies, warning that investors should weigh up the significant risks before pouring money in.
Get the latest news, opinions and commentaries. Available on Android