Nor Shamsiah named Central Banker of the Year for Asia Pacific

Bank Negara Governor Datuk Nor Shamsiah Yunus says the central bank remains committed to implementing the NSFR requirements as part of overall liquidity standards applicable to licensed banks in Malaysia.

PETALING JAYA: Datuk Nor Shamsiah Mohd Yunus has been named Central Banker of the Year 2019 for Asia-Pacific by The Banker, a publication of Financial Times.

It said that Nor Shamsiah only came into office in July last year but has undertaken a raft of reforms with the aim of boosting GDP and tackling poverty.

“Nor Shamsiah came into the central bank after being integral to the 1MDB investigations that shook Malaysia in 2017. 

“With this background she has been urging greater transparency in banking, and is seen as being a solid choice in pushing for stronger regulations and accountability in the country’s banking system,” The Banker said.

The publication also lauded her for reducing the threshold for transactions that must be reported to Bank Negara to combat black market cash payments.

It also said Malaysia is taking steps to reduce money laundering as it has some of the highest rates in the world.

It added that Nor Shamsiah’s policies takes consideration of the people’s needs, such as requiring foreign insurers operating in the country to contributed to the National Health Protection Fund, which provides aid to the B40 group.

“The country’s growth has attracted international recognition, with the World Bank reporting Malaysia is showing signs of becoming a high-growth country. 

“This prediction is backed by Ms Nor Shamsiah, who forecasts the country will register GDP growth of 4.8% for the full-year 2018, and 4.9% in 2019.

“Looking to the future, Ms Nor Shamsiah plans to strengthen the country’s use of technology, recognising that it can be implemented for a range of services,” The Banker said, adding that the move towards digital payments is hoped to reduce dependence on cash and to tackle financial crime. 

Nor Shamsiah shares the spotlight of Central Banker of the Year with Croatian National Bank Governor Boris Vujcic (Global and Europe), Bank of Mexico Governor Alejandro Diaz de Leon (Americas), Central Bank of Kuwait Governor Dr Mohammad Y Al-Hashel (Middle East) and Bank Al-Maghrib Governor Abdellatif Jouahri (Africa).

Nor Shamsiah was appointed Governor for a five-year term beginning July 1 last year.