Datuk Muhammad Ibrahim
KUALA LUMPUR: Deputy governor of Bank Negara Malaysia Datuk Muhammad Ibrahim has been appointed the new governor for five years effective May 1.
The Prime Minister’s Office announced yesterday that Muhammad, who has been deputy governor since 2010, will assume the position from Tan Sri Dr Zeti Akthar Aziz, 68, who will retire on April 30.
His appointment received the royal consent of the Yang Di-Pertuan Agong Tuanku Abdul Halim Muadzam Shah, on the advice of Prime Minister Datuk Seri Najib Tun Razak.
“I am confident, under the leadership of Muhammad, BNM will continue to assist and advise the government besides presenting its views to further drive the country’s economic growth,” said Najib in a statement.
The prime minister is also confident that the new governor would be able to manage monetary policies and oversee the country’s financial industry including BNM’s continuous efforts to develop the industry.
“On behalf of the government, I will like to express gratitude and appreciation to Tan Sri Dr Zeti Akhtar Aziz for her excellent contributions during her tenure as seventh governor of the central bank,” Najib added.
Zeti said Muhammad’s appointment is definitely positive for the country.
“Being part of our policy team at the bank will provide continuity and the much needed certainty in this prevailing period of great uncertainty,” she said in a statement.
Zeti said she has great confidence in Muhammad’s ability to lead the central bank going forward into the future.
Meanwhile, economist Datuk Jalilah Baba called Muhammad’s appointment the right move.
“He is definitely the man who will ensure the continuous financial stability of the country as he has the right skills and has been in the institution for quite some time,” she told Bernama.
She also expected Muhammad to give strong support to Najib who is also Finance Minister.
“I’m sure that the corporate sites will applaud this appointment and I myself am very happy and support this move. He has the experience, he has what it takes for the position,” she added.
Alliance Bank Malaysia Bhd chief economist Manokaran Mottain said the current financial policy is expected to remain under Muhammad’s reign, which is positive for the financial markets.
“Muhammad is a home-grown governor like Dr Zeti. Very long been trained to take over from Dr Zeti. Good succession. His years of experience should make him the most appropriate person to lead BNM,” he added.
Muhammad joined the central bank in 1984.
He holds a Master’s degree from Harvard University, an accounting degree from Universiti Malaya and a postgraduate diploma in Islamic Banking and Finance from the International Islamic University Malaysia.
In his 32 years at the central bank, he covered many areas including bank regulations and supervision, strategic planning, payment systems, insurance, offshore banking and treasury, and financial markets. — Bernama