KUALA LUMPUR: Prime Minister Tun Dr Mahathir Mohamad has today confirmed the resignation of Bank Negara Malaysia governor Tan Sri Muhammad Ibrahim.
Dr Mahathir said in a press conference held earlier today that no replacement for Muhammad have been appointed yet.
The newly elected premier did not disclosed the shortlisted names of possible replacements, if there are any.
Among the two candidates that are being speculated right now are former deputy governors Nor Shamsiah Mohd Yunus and Sukhdev Singh, who resigned in November 2017.
Sukhdev, who quit the bank after 31 years of service, a year ahead of his tenure ending April 2019, has never been on record in citing his true reasons for departure.
Nor Shamsiah became Deputy Governor following the retirement of Datuk Zamani Abdul Ghani on the completion of his term on 15 November 2010, after 39 years of being with the bank.
Nor Shamsiah joined the central bank in 1987 and was involved in the financial sector resolution initiatives during the Asian financial crisis of 1997 as well as the preparation and implementation of the Financial Sector Masterplan for the development of the Malaysian financial system from 2001 to 2010.
She is a member of Bank Negara’s Monetary Policy Committee and Employee Provident Fund’s Investment Panel.
To recap, Muhammad was appointed governor in April 2016, joined the central bank in 1984 and was the most senior deputy governor and the central bank’s second-in-command.
Prior to that, he was the managing director recapitalisation agency created during the Asian financial crisis in the 1990s, Danamodal Nasional Bhd.