NOR Shamsiah Mohd Yunos has officially been appointed the new Bank Negara Malaysia (BNM) governor, Finance Minister Lim Guan Eng announced today.

Lim confirmed that the Yang-Di Pertuan Agong consented to Nor Shamsiah’s appointment upon the suggestion of Prime Minister Dr Mahathir Mohamad on June 19.

Nor Shamsiah would be serving for a five-year term, starting July 1 to June 30, 2023, he said at a press conference at the ministry today.

“The prime minister forwarded his recommendations on June 18 to the Agong that Nor Shamsiah be appointed as the BNM governor for a term of five years,” said Lim.

Nor Shamsiah, who was present during the announcement, said she thanked the government for appointing her and pledged to do her duty diligently.

“I will endeavour to carry out duties of governor of Bank Negara Malaysia to the best of my abilities together with the present team in Bank Negara,” she said.

The former BNM deputy governor said she would only know her exact duties when she joins the bank on July 1 after a two-year hiatus.

“I have been away for nearly two years and it’s too early for me to say what the priorities are. I will need to go back and start my responsibilities in July and discuss with the staff the current situation and what would be the priorities moving forward,” Nor Shamsiah said.

Earlier today, Bloomberg quoted a spokesman for Dr Mahathir as confirming earlier rumours that Nor Shamsiah’s appointment had been approved by the King.

She holds a Bachelor’s degree in Accountancy from the University of South Australia and is a Fellow of the Australian CPA.

Nor Shamsiah is a former BNM senior officer who had previously assisted in investigations into the scandal-plagued 1Malaysia Development Berhad (1MDB) controversy.

She was deputy governor for six years before she left in November 2016.

Earlier this month, Dr Mahathir announced that former BNM governor Muhammad Ibrahim tendered his resignation following recent revelations that the central bank had overpaid the old government, led by former prime minister Najib Razak, for a piece of land in Kuala Lumpur. – June 22, 2018