NAJIB, ROSMAH GET READY: WHO'S TAKING OVER FROM ZETI?

KUALA LUMPUR - Speculation has already begun on who will take over from Bank Negara Malaysia (BNM) governor Tan Sri Dr Zeti Akhtar Aziz, 68, whose current term ends on April 30 next year.

As Zeti is likely to retire, the focus has now shifted to the second liners – deputy governors Datuk Muhammad Ibrahim, Datuk Nor Shamsiah Mohd Yunus and Dr Sukudhew Singh.

Muhammad was appointed to his current post on June 16, 2010 – shortly before Zeti’s contract was extended by five years from April 2011.

Zeti’s unusually long tenure of five years was then attributed to there being no clear successor in place at that time.

With Muhammad’s contract extended by another three years from 2013, he seems to be in the leading position to take over from Zeti next year.

Muhammad, who joined BNM in 1984, was previously managing director at Danamodal Nasional Bhd, a bank recapitalisation agency created during the Asian financial crisis.

Nor Shamsiah, who joined BNM in 1987, was appointed deputy governor on Nov 16, 2010 for three years and her contract was extended in 2013. She is also director at Pengurusan Danaharta Nasional Bhd.

Sukudhew , who joined BNM in 1986, was promoted to deputy governor on April 16, 2013. He is a member of BNM’s Monetary Policy Committee and chairs the Monetary Policy Working Group of the central bank.

Zeti has been credited for BNM’s handling of the 2008 financial crisis, and oversaw key policy developments such as being the first Asian central bank to lift borrowing costs in 2010 to keep a lid on inflation.

Under Zeti, the central bank oversaw the last round of banking consolidation in 1998, which saw the number of domestic lenders reduced to 10 from 54. - Therakyatpost