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Nor Shamsiah’s Appointment Good Sign For The Market, Says Former BNM Governor

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KUALA LUMPUR: The appointment of Datuk Nor Shamsiah Mohd Yunus as the new central bank governor is a good sign for the market and a reflection of the government’s respect for the institution.

Former Bank Negara Malaysia (BNM) governor Tan Sri Zeti Akhtar Aziz said this, adding that by appointing Nor Shamsiah, it demonstrates the respect the government has on the central bank as an important institution.

She said the market wants to see the “central bank as an institution that remains independent in performing its functions”.

Zeti, a member of the Council of Eminent Persons spoke to reporters at the Ilham Tower, and said she was happy with Nor Shamsiah’s appointment as the latter was her deputy when she was the governor.

“Datuk Shamsiah was the former deputy governor during my time, she knows all about central banking and will hit the ground running.”

The government today confirmed that Nor Shamsiah will be the new governor of BNM.

The former central bank official who investigated the scandal-plagued state fund 1Malaysia Development Bhd (1MDB) was deputy governor at BNM for six years until she left in Nov 2016.

When asked if Nor Shamsiah’s appointment was based on her role in the 1MDB investigation, Zeti said, ” No…the appointment is a reflection of her capability.

“She took a position in the International Monetary Fund ( IMF) because of her qualification and she is recognised internationally for her knowledge in financial stability.”

Nor Shamsiah 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 1MDB.

Muhammad was less than halfway through his five-year term when he left.- New Straits Times

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