KUALA LUMPUR, June 22 2018 : Malaysia has named Nor Shamsiah Mohd Yunus, a former central bank deputy, as the new governor of Bank Negara Malaysia, a spokesman for the prime minister said today, following the exit of its previous chief less than halfway through his five-year term.
Prime Minister Mahathir Mohamad said earlier this month he had accepted the resignation of Muhammad Ibrahim as governor of the central bank. The 92-year-old leader has replaced some officials seen as close to the previous government led by Najib Razak.
Following a stunning election victory last month, Mahathir’s administration has reopened investigations into alleged corruption and money laundering at state fund 1Malaysia Development Berhad (1MDB).
Nor Shamsiah, who joined Bank Negara in 1987 after graduating from Australia, left the central bank in November 2016 when her term ended, just months after Muhammad’s appointment.
Nor Shamsiah was appointed to the deputy governor role in 2010 and reappointed in 2013.
A finance ministry statement is expected later today.
Bank Negara’s earlier statements said she has extensive experience in the development of prudential regulation, legislation, policies and guidelines for the financial sector. The central bank also said she was involved in the financial sector resolution initiatives during the Asian financial crisis. – Reuters