Muhammad Ibrahim is Bank Negara governor effective May 1

KUALA LUMPUR (April 27): Bank Negara Malaysia (BNM) deputy governor Datuk Muhammad Ibrahim (pictured) is taking over as governor of the central bank, replacing Tan Sri Dr Zeti Akhtar Aziz who is retiring on April 30.

He will start his five-year term on May 1, said Prime Minister Datuk Seri Najib Razak in a statement today.

Najib said the King had, on his advice, endorsed the appointment of Muhammad.

Najib said he is confident Muhammad will continue to assist the government and also provide his advice and views to help drive the country's economic growth and also administer the monetary policy and oversee the country's financial industry, including BNM's continuous efforts to develop the industry.

Muhammad was appointed deputy governor in 2010. He is a graduate of Harvard University in the U.S.

Muhammad was one of the candidates touted to replace Zeti as central bank governor, when her tenure ends at the end of April.

Others included Treasury Secretary-General Tan Sri Mohd Irwan Serigar Abdullah, Minister in Prime Minister's Department Datuk Seri Abdul Wahid Omar, and former Malaysian Ambassador to the US Datuk Awang Adek Hussin. -- theedgemarkets.com

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