Is MAS involved the global foreign exchange market scandal?

Deutsche Bank staff put on leave over MAS communication

LONDON — Singapore’s central bank has been drawn into the global foreign exchange market scandal after it emerged Deutsche Bank had put a London-based sales director on leave for what it regarded as inappropriate communication with the Monetary Authority of Singapore (MAS).

Ms Kai Lew, responsible for dealing with Deutsche’s central bank clients, was placed on leave last month as part of an internal investigation by the bank, people close to the situation said. It is unclear what her communication consisted of.

She is one of more than 30 employees at some of the world’s biggest banks to have been put on leave, suspended or fired in the course of the continuing investigation by regulators into alleged manipulation of key exchange rates. There is no evidence of any wrongdoing by Ms Lew, Deutsche Bank or the MAS, the sources said.

The MAS said yesterday it has “been in touch with financial institutions, including Deutsche Bank, on these investigations”. “MAS is looking into all allegations of inappropriate behaviour,” it said. Agencies