Zeti: Nor Shamsiah's appointment as BNM Governor demonstrates respect for institution

KUALA LUMPUR (June 22): Council of Eminent Persons member Tan Sri Dr Zeti Akhtar Aziz (pictured) said today the Malaysian Government's decision to appoint Datuk Nor Shamsiah Mohd Yunus as the new Bank Negara Malaysia (BNM) Governor is a demonstration of respect for the central banking institution.

Former BNM governor Zeti said the market wants to see a central bank that is "independent and performing its functions". According to Zeti, Nor Shamsiah's appointment is a reflection of her capability and area of expertise.

"Nor Shamsiah was deputy governor at the central bank. I am happy that the Government demonstrates its respect for the institution. She is experienced and she will hit the ground running," Zeti told reporters here today.

At the time of writing, the Government and BNM have yet to make an official announcement on Nor Shamsiah's appointment.

Earlier today, Bloomberg reported that Nor Shamsiah, who was deputy governor at Bank Negara for six years until she left in November 2016, will replace Tan Sri Muhammad Ibrahim, who resigned from the top job earlier this month after questions were raised about the central bank's role in a deal linked to 1Malaysia Development Bhd.

It was reported that Prime Minister Tun Dr Mahathir Mohamad's spokesman confirmed the appointment after it was approved by the King.