Nor Shamsiah may take over as Bank Negara Governor

  • Nation
  • Tuesday, 05 Jun 2018

A file picture of (from left) Muhammad Ibrahim, Zeti and Nor Shamsiah at a Bank Negara press conference in May 15, 2015.

PETALING JAYA: Former Bank Negara Malaysia deputy governor Datuk Nor Shamsiah Mohd Yunus is strongly tipped to succeed Tan Sri Muhammad Ibrahim at the helm as rumours swirl that he has tendered his resignation, according to a Reuters newsflash.

She was involved in policies to strengthen the banking system during the Asian financial crisis and in the development of regulation and guidelines for the financial sector.

She also helped formulate the financial sector's 10-year master plan through 2010.

Nor Shamsiah left the central bank in November 2016, seven months after Tan Sri Zeti Akhar Aziz finished her tenure as governor in April that year, to join the International Monetary Fund.

Earlier Tuesday, Bloomberg reported that Muhammad had offered to resign two years into his five-year tenure.

Earlier this month, newly-appointed Finance Minister Lim Guan Eng Lim said that the previous administration of Datuk Seri Najib Tun Razak had used money raised from a land sale to Bank Negara – valued at about US$520mil – to pay off some of the debts of scandal-ridden 1Malaysia Development Berhad (1MDB).

At the time, Bank Negara said the purchase was transacted at fair value and complied with all governance requirements and relevant laws.

The central bank has declined to comment on Muhammad's possible departure, but foreign wires are speculating that he will be leaving soon and his exit terms are currently being discussed.

Reuters reported that his resignation could be announced as early as tomorrow (June 6), according to two people aware of the discussions.

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