THE government’s appointment of Nor Shamsiah Mohd Yunus as the new governor of Bank Negara Malaysia (BNM) reflects the administration’s respect for the role of the central bank, said BNM former governor Zeti Akhtar Aziz. 

She said Shamsiah, a former deputy BNM governor, was an excellent choice as she was well versed in matters related to the central bank. 

“It reflects the respect that the government has for the central bank as an important institution. 

“Datuk Shamsiah was a former deputy governor while I was in office and she knows all about central banking and she will hit the ground running,” she told reporters outside of Ilham Tower in Kuala Lumpur today.

Zeti said Nor Shamsiah would also appeal to the market as her selection showed the central bank was an independent institution. 

Zeti denied Nor Shamsiah’s appointment was due to her involvement in investigating 1Malaysia Development Berhad (1MDB). 

“The appointment reflects her capability. In fact, she had a position at the IMF (International Monetary Fund) because of her qualifications and she is recognised internationally as well in her area of specialisation, which is financial stability,” she said. 

Earlier today, Bloomberg quoted a spokesman for Prime Minister Dr Mahathir Mohamad confirming Nor Shamsiah’s appointment after her nomination was approved by the King. 

Nor Shamsiah is a former BNM senior officer who had previously assisted in investigations into the scandal-plagued 1MDB. 

She was deputy governor for six years before she left in November 2016.  – June 22, 2018.