KUALA LUMPUR, June 9 — Bank Negara Malaysia (BNM) today announced the Yang di-Pertuan Agong has consented to appoint Datuk Shaik Abdul Rasheed Abdul Ghaffour as governor for a five-year term effective July 1, 2023 to June 30, 2028.
In a statement, BNM said Abdul Rasheed will succeed as governor from Tan Sri Nor Shamsiah Mohd Yunus, who completes her five-year term on June 30, 2023.
“It has been a privilege and honour to have led the bank 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,” said Nor Shamsiah.
The BNM board has expressed its appreciation to Nor Shamsiah for her contributions and service to the bank and country.
It said she has demonstrated exemplary leadership and exceptional commitment in discharging her responsibility as governor and chairperson of the board.
The board is also confident that with Abdul Rasheed’s extensive experience and proven track record in the bank, he will drive the bank further forward and continue its tradition of excellence in advancing the interests of the country.
“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, the bank 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 abilities,” said Abdul Rasheed.
Abdul Rasheed joined the central 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 in the bank, Abdul Rasheed has helmed various senior positions. He is currently a member of the Monetary Policy Committee and Financial Stability Committee, a position he has held since 2015.
He also played key roles in the development and implementation of the Financial Sector Masterplan and Financial Sector Blueprints.