Datuk Shaik Abdul Rasheed bin Abdul Ghaffour has been appointed as the Governor of Bank Negara Malaysia (BNM) for a five-year term effective 1 July 2023 to 30 June 2028.

He will succeed Tan Sri Nor Shamsiah Mohd Yunus who completes her five-year term on 30 June 2023.

Datuk Abdul Rasheed joined the Bank in 1988, rising to the position of Deputy Governor in 2016. Over the span of his career in the bank, Datuk 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.

Datuk Abdul Rasheed said,

“I look forward to continue and build 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.”

Governor Shamsiah said,

“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.”