Tun M: No successor yet for BNM governor's role

Tun Dr M

PUTRAJAYA (June 6): The government today confirmed it has accepted Bank Negara Malaysia (BNM) governor Tan Sri Muhammad Ibrahim's resignation and is yet to decide his successor.

Prime Minister Tun Dr Mahathir Mohamad (pictured) said the government will not make any announcement on potential candidate this week.

"We have an ordinary cabinet meeting today, nothing very much to report except BNM governor has submitted his resignation.

"We have not decided on his successor because we need to have the approval from Yang di-Pertuan Agong Sultan Muhammad V before we can announce it (the candidate).

"So we will not announce it today and not this week. We will announce it next week," he told reporters at the post-cabinet meeting press conference.

Muhammad, a career central bank official, has finished less than half of the five-year term he began in May 2016.

It is notable that Muhammad offered his resignation to the prime minister yesterday morning and there was no reason given for his resignation.

However, it was reported that two former deputy BNM governors are being considered to succeed Muhammad.

Reuters reported that Datuk Nor Shamsiah Mohd Yunus is among the candidates being considered to take over the post of BNM governor.

Nor Shamsiah left BNM after her term ended in November 2016.

"There are talks being arranged with Nor Shamsiah Mohd Yunus," said Reuters, citing a government source.

Another former deputy governor, Dr Sukhdev Singh, is also being considered, the source added. Sukhdev resigned in 2017 after 31 years in office. —

For more stories, download pullout here for free.

Looking for properties to buy or rent? With >150,000 exclusive listings, including undervalued properties, from vetted Pro Agents, you can now easily find the right property on Malaysia's leading property portal EdgeProp! You can also get free past transacted data and use our proprietary Edge Reference Price tool, to make an informed purchase.
  1. Fitch Solutions expects Bank Negara to hike OPR by 50bps in 2022 to rebuild policy buffers
  2. URUS programme to assist B50 borrowers who have lost jobs, income — BNM
  3. BNM launches Malaysia Overnight Rate as new alternative reference rate in M'sia