Bank Negara Malaysia central bank BNM

BNM appoints Abdul Rasheed Ghaffour as new Governor

BNM (Bank Negara Malaysia) has announced Abdul Rasheed Ghaffour will be their new Governor. BNM, the central bank of Malaysia, made this announcement on Friday, the 9th of June.

The BNM statement also announced that Abdul Rasheed will assume the position for a five-year tenure commencing on July 1. Abdul Rasheed is a veteran central banker. He began his career with BNM in 1988. Abdul Rasheed has garnered extensive experience in the field over the years.

Abdul Rasheed will succeed Nor Shamsiah Mohd Yunus, who has been serving as the governor since 2018. Expressing his aspirations, Abdul Rasheed stated, “I eagerly anticipate continuing the remarkable work initiated by Governor Shamsiah.” He further acknowledged the resilience demonstrated by the bank under her leadership. BNM successfully fulfilled its mission to promote monetary and financial stability. In particular, even during the unprecedented challenges posed by the pandemic crisis.

Throughout his career at BNM, Abdul Rasheed has steadily climbed the ranks, attaining the position of Deputy Governor in 2016. Over the years, he has held various high-level roles within the organization. He currently serves as a member of the Monetary Policy Committee and Financial Stability Committee. He has held this position since 2015.

Former BNM Governor convey confidence in new lead

Nor Shamsiah, who expressed her gratitude for having led the central bank, conveyed her confidence in Abdul Rasheed’s appointment, stating, “I have complete faith in his leadership abilities and his commitment to furthering the bank’s objectives of fostering monetary and financial stability that supports sustainable growth for the Malaysian economy.”

BNM looks forward to Abdul Rasheed taking the helm. The central bank will leverage on his wealth of experience to navigate the evolving economic landscape effectively. His extensive knowledge and expertise in central banking, coupled with his previous roles within BNM, position him favorably to guide the bank’s strategic decisions and promote stability in the financial sector.

As Malaysia’s new central bank governor, Abdul Rasheed Ghaffour is poised to steer the nation’s monetary policies and contribute to the sustainable growth and development of the Malaysian economy in the coming years. His appointment marks a new chapter in the central bank’s journey. His leadership will play a crucial role in ensuring financial resilience and stability in an ever-changing global economic landscape.

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