Zeti on Nor Shamsiah as Bank Negara governor: She will hit the ground running


  • Nation
  • Friday, 22 Jun 2018

KUALA LUMPUR: Datuk Nor Shamsiah Mohd Yunus’ appointment as the new Bank Negara Malaysia (BNM) governor is an excellent decision, says former governor Tan Sri Dr Zeti Akhtar Abdul Aziz.    

She said the appointment reflected the respect the Government had for the central bank as an important institution.  

“I think this is what the market wants to see, an institution that remains independent in performing its functions.  

“She will hit the ground running,” Dr Zeti told the media after a meeting between the Council of Eminent Persons (CEP) and the chief executive officers of MRT Corp, KTM Berhad and Express Rail Link.  

Dr Zeti, part of the CEP, said Nor Shamsiah’s appointment was not due to her involvement in the investigations into the scandal-ridden 1Malaysia Development Berhad (1MDB).  

“The appointment reflects her capabilities – she took a position at the International Monetary Fund because of her qualifications, and she's recognised internationally in her area of specialty, which is financial stability,” she said.  

Nor Shamsiah, who takes over from Tan Sri Muhammad Ibrahim who resigned on June 15, led the investigation into the trail of money that flowed out of 1MDB.  

She left Bank Negara in November 2016, after 30 years with the central bank, amidst a clampdown by the previous government on people who were investigating the matter.  

Like Muhammad, she served as deputy governor under Dr Zeti, and she was a member of the monetary policy committee.  

Muhammad had tendered his resignation after questions were raised on the central bank’s purchase of a land from the Federal Government for RM2bil.  

The transaction was completed in January this year, and the proceeds were used to pay 1MDB’s debts.

 

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