KUCHING: Bank Negara Malaysia (BNM) yesterday announced the appointment of Shaik Abdul Rasheed Abdul Ghaffour as the central bank’s new deputy governor for a three-year term with effect from July 16.
As deputy governor, Abdul Rasheed will be responsible for the financial sector regulation and development including payment systems as well as the international reserve management and money market operations and foreign exchange administration.
In the meantime, Abdul Rasheed is currently the assistant governor responsible for the monetary policy and economics sector which consists of the monetary policy, economics, international and statistical services departments of the central bank.
Abdul Rasheed is a member of the central bank’s management committee as well as several policy committees namely the Monetary Policy Committee, Reserve Management Committee and Risk Management Committee.
BNM revealed that Abdul Rasheed has served at the International Monetary Fund (IMF) in Washington,US as the alternate executive director of the South East Asia Voting Group on the IMF executive board.
Additionally, the central bank said he had a key role in the development and successful implementation of the Financial Sector Masterplan (2001-2010) and formulation of the Financial Sector Blueprint (2011-2020).
Thus, with the appointment of Abdul Rasheed, BNM said the central bank will have three deputy governors, as provided for by the Central Bank of Malaysia Act, 2009.
The other two deputy governors are Datuk Nor Shamsiah Mohd Yunus and Dr. Sukudhew Singh.