ABDUL Rasheed Abdul Ghaffour is the right and most suitable candidate to be the leader of the nation’s central bank, former Bank Negara Malaysia (BNM) governor Muhammad Ibrahim said. 

The central bank on Friday announced that the Yang di-Pertuan Agong has consented to appoint Rasheed as governor for a five-year term effective July 1, 2023 to June 30, 2028. 

“He is the right and most suitable candidate. He will do well in navigating the nation’s monetary and financial stability,” he told Bernama. 

In addition, Rasheed’s strong work ethics, collaborative and inclusive approaches have served the bank and the country well, said Ibrahim. 

He said the responsibility of a central banker is always challenging given the need to balance the interests of various stakeholders amid the increasingly challenging global financial and economic environment. 

Ibrahim succeeded Zeti Akthar Aziz as BNM Governor in 2016.

Two years later, on July 1, 2018, Nor Shamsiah Mohd Yunus was appointed as Governor. Her tenure ends on June 30, 2023.

Nor Shamsiah in a statement said she is confident that Rasheed is the right person to helm the bank as governor, having worked closely with him for many years. 

“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. – Bernama, June 10, 2023.