New Bank Negara governor named

Abdul Rasheed Ghaffour has been appointed as central bank governor, Bank Negara Malaysia (BNM) said today.

Rasheed, a career central banker who joined BNM in 1988, was appointed for a five-year term effective July 1, BNM said in a statement.

He takes over from Nor Shamsiah Mohd Yunus, who has served as governor since 2018.

"I look forward to continue and build on the work of governor Shamsiah," Rasheed said.

"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."

Rasheed joined BNM in 1988, rising to the position of deputy governor in 2016.

He has held several senior positions at the bank and is currently a member of the Monetary Policy Committee and Financial Stability Committee, a role he has held since 2015.

Nor Shamsiah said it had been a privilege to have led the central bank and expressed confidence in Rasheed's appointment.

"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," she said.