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Malaysia finance ministry official set to be new central bank governor Malaysia finance ministry official set to be new central bank governor
(6 months later)
A top Malaysian finance ministry official is set to be appointed as the new central bank governor to replace Zeti Akhtar Aziz next week, the Wall Street Journal has reported, citing unnamed sources.A top Malaysian finance ministry official is set to be appointed as the new central bank governor to replace Zeti Akhtar Aziz next week, the Wall Street Journal has reported, citing unnamed sources.
Irwan Serigar Abdullah will replace Zeti, who steps down as Bank Negara Malaysia (BNM) governor on 30 April after 16 years at the helm, the report claimed.Irwan Serigar Abdullah will replace Zeti, who steps down as Bank Negara Malaysia (BNM) governor on 30 April after 16 years at the helm, the report claimed.
Related: Former Malaysian leader among 58 calling for PM Najib Razak to resign
A spokesman at the prime minister’s office said he would not comment on speculation. A central bank spokesman did not answer phone calls or respond to email requests for a comment.A spokesman at the prime minister’s office said he would not comment on speculation. A central bank spokesman did not answer phone calls or respond to email requests for a comment.
Zeti is widely respected and credited for pushing reforms and sound policies, as well as protecting the independence of the central bank. There has been no official word on her replacement.Zeti is widely respected and credited for pushing reforms and sound policies, as well as protecting the independence of the central bank. There has been no official word on her replacement.
Market participants feared political interference in the appointment by the government of prime minister Najib Razak, especially after BNM insisted state-owned 1Malaysia Development Berhad (1MDB) be charged for fiscal mismanagement.Market participants feared political interference in the appointment by the government of prime minister Najib Razak, especially after BNM insisted state-owned 1Malaysia Development Berhad (1MDB) be charged for fiscal mismanagement.
Mohd Irwan was one of candidates shortlisted for the job along with others understood to include deputy central bank governor Muhammad Ibrahim, economic planning minister Abdul Wahid Omar and Malaysian ambassador to the US Awang Adek Hussin.Mohd Irwan was one of candidates shortlisted for the job along with others understood to include deputy central bank governor Muhammad Ibrahim, economic planning minister Abdul Wahid Omar and Malaysian ambassador to the US Awang Adek Hussin.
A career civil servant, Mohd Irwan is currently the treasury secretary general at the finance ministry, which is headed by Najib. He is also a member of the board of advisers for 1MDB.A career civil servant, Mohd Irwan is currently the treasury secretary general at the finance ministry, which is headed by Najib. He is also a member of the board of advisers for 1MDB.