KUALA LUMPUR: Nor Zahidi Alias has been appointed as an external member of Bank Negara Malaysia’s Monetary Policy Committee (MPC) for a two-year term, effective Jan 1.
Bank Negara said on Thursday Datuk Dr Gan Wee Beng was reappointed as an external member with effect from April 1.
Under the Central Bank of Malaysia Act 2009, the MPC is responsible for formulating monetary policy and policies for the conduct of monetary policy operations.
It also provides for the appointment of external members to the MPC.
Bank Negara said the appointment of Nor Zahidi and reappointment of Gan will continue to enhance the collective expertise and experience relevant to the responsibilities and functions of the MPC.
The Monetary Policy Committee will comprise eight members: Governor Datuk Nor Shamsiah Yunus; Deputy Governor Abdul Rasheed Ghaffour; Deputy Governor Jessica Chew Cheng Lian; Deputy Governor Marzunisham Omar; Assistant Governor Norzila Abdul Aziz; Assistant Governor Dr. Norhana Endut; Gan Wee Beng and Nor Zahidi Alias
Nor Zahidi was the chief economist of the Malaysian Rating Corporation Bhd (MARC). Earlier in his career, he worked at The New Straits Times Press (M) Berhad as a senior analyst before subsequently joining Kuala Lumpur City Securities as an economist.
Prior to his position in MARC, he was the head of research and chief economist of Alliance Merchant Bank and head of research of MCIS Zurich Insurance.
Nor Zahidi holds a Master’s degree in Economics Policy and a Bachelor’s degree in Economics from Boston University.
Gan (above) has been on the MPC since April 1,2019. He is also a board member of Perbadanan Insurans Deposit Malaysia (PIDM).
He was previously a board member at Kumpulan Wang Persaraan (KWAP) and has held several positions in CIMB Group including as advisor for investment banking, and executive director at CIMB Bank, CIMB Investment Bank and CIMB Securities.
Prior to this, he was a senior advisor at the Economics Department of the Monetary Authority of Singapore, and consultant to the World Bank and International Labour Organisation.
He was also a research fellow at the Malaysian Institute of Economic Research. Gan holds a PhD in Economics from the University of Pennsylvania, and a Master’s degree and a Bachelor’s degree in Economics from the University of Malaya.