Abdul Rasheed Ghaffour appointed as Bank Negara governor for 5 years effective July 1

Datuk Shaik Abdul Rasheed Abdul Ghaffour

KUALA LUMPUR: The Yang di-Pertuan Agong has granted his consent for the appointment of Datuk Shaik Abdul Rasheed Abdul Ghaffour as the new central bank governor.

Abdul Rasheed will be appointed as Bank Negara governor for a five-year term effective July 1, 2023 to June 30, 2028.

He will assume the position from Tan Sri Nor Shamsiah Mohd Yunus, who completes her five-year term on June 30.

“It is an honour to be appointed to the position of governor. I look forward to continuing and building on the work of Shamsiah. Under her leadership, the bank has been steadfast in discharging its mandate to promote monetary and financial stability, even through many challenging periods which include the pandemic crisis. She has also set in motion various organisational modernisation initiatives to reshape and better position the bank to deal with the opportunities and challenges of the future. I will endeavour to carry out the duties of Governor to the best of my ability,” Abdul Rasheed said in a statement.

Abdul Rasheed joined Bank Negara in 1988, rising to the position of deputy governor in 2016.

He graduated from Universiti Malaya with a Bachelor of Economics. He also holds an MBA from the Saïd Business School, Oxford University.

Over the span of his career in the bank, Abdul Rasheed has helmed various senior positions. He is currently a member of the Monetary Policy Committee and Financial Stability Committee, a position he has held since 2015.

Abdul Rasheed also played key roles in the development and implementation of the Financial Sector Masterplan and Financial Sector Blueprints.

The Board expressed its appreciation to Shamsiah for her contributions and service to the bank and country.

“She has demonstrated exemplary leadership and exceptional commitment in discharging her responsibility as governor and chairperson of the board. The board is confident that with his extensive experience and proven track record in the bank, Abdul Rasheed will drive the Bank further forward and continue its tradition of excellence in advancing the interests of the country,” Bank Negara said.