Abdul Rasheed to take over as BNM Governor in July

SHAH ALAM - Datuk Shaik Abdul Rasheed Abdul Ghaffour has been appointed as Bank Negara Malaysia (BNM) Governor, effective July 1.

In a statement earlier, BNM said Abdul Rasheed who is currently the deputy governor, will serve as the central bank’s governor for five years until June 30, 2028.

He will assume the position of governor from Tan Sri Nor Shamsiah Mohd Yunus who will complete her five-year term on June 30.

"It is an honour to be appointed to the position of governor. I look forward to continuing and building on the work of Governor Shamsiah.

"Under her leadership, BNM has been steadfast in discharging its mandate to promote monetary and financial stability, even through many challenging periods, which include the pandemic crisis.

"She has also set in motion various organisational modernisation initiatives to reshape and better position the bank to deal with the opportunities and challenges of the future. I will endeavour to carry out the duties of governor to the best of my ability," said Abdul Rasheed.

Abdul Rasheed joined the Bank in 1988, rising to the position of Deputy Governor in 2016.

He graduated from Universiti Malaya with a Bachelor of Economics. He also holds an MBA from the Saïd Business School, Oxford University.

Over the span of his career at BNM, Abdul Rasheed has held various senior positions.

He is currently a member of the Monetary Policy Committee and the Financial Stability Committee, a position he has held since 2015.

Abdul Rasheed also played key roles in the development and implementation of the Financial Sector Masterplan and Financial Sector Blueprints.

Meanwhile, Nor Shamsiah said it has been a privilege and an honour to have led Bank Negara for the past five years.

"I am thankful for the opportunity to lead the Bank in service to the country, especially during such a tumultuous and critical period for the nation.

"I am 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 added.

Bank Negara expressed its appreciation to Nor Shamsiah for her contributions and service to the bank and country.

"She has demonstrated exemplary leadership and exceptional commitment in discharging her responsibility as governor and chairperson of the board," BNM