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Abdul Rasheed appointed new Bank Negara’s governor to replace Nor Shamsiah

Publish date: Sat, 10 Jun 2023, 09:13 AM

BANK Negara Malaysia (BNM) announced that the Yang di-Pertuan Agong has consented to appoint Datuk Shaik Abdul Rasheed Abdul Ghaffour as the central bank’s governor for a five-year term effective July 1 to June 30, 2028.

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

“It has been a privilege and honour to have led the bank for the past five years. I am thankful for the opportunity to lead the bank in service to the country, especially during such a tumultuous and critical period for the nation,” commented Shamsiah in a BNM statement.

“I am confident that Rasheed is the right person to helm the bank as governor, having worked closely with him for many years. I have full faith in his ability to lead the bank, and to continue delivering on the bank’s mandate to promote monetary and financial stability that is conducive to the sustainable growth of the Malaysian economy.”

Abdul Rasheed who is honoured to be appointed BNM’s new governor said he looks 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,” he noted.

“She has also set in motion various organisational modernisation initiatives to re-shape 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 joined BNM in 1988, rising to the position of deputy governor in 2016. He graduated from Universiti Malaya with a Bachelor of Economics and also holds an MBA from the Saïd Business School, Oxford University.

Over the span of his career in the central 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.

He also played key roles in the development and implementation of the Financial Sector Masterplan and Financial Sector Blueprints. - June 9, 2023

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