Bank Negara Malaysia today announced that the Yang di-Pertuan Agong has consented to appoint Datuk Shaik Abdul Rasheed bin Abdul Ghaffour as Governor for a five-year term effective 1 July 2023 to 30 June 2028. He will assume the position of Governor from Tan Sri Nor Shamsiah Mohd Yunus, who completes her five-year term on 30 June 2023.
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.”
The Board expressed its appreciation to Governor Shamsiah for her contributions and service to the Bank and country. She has demonstrated exemplary leadership and exceptional commitment in discharging her responsibility as Governor and Chairperson of the Board. The Board is confident that with his extensive experience and proven track record in the Bank, Datuk Abdul Rasheed will drive the Bank further forward and continue its tradition of excellence in advancing the interests of the country.
Datuk Abdul Rasheed said: “It is an honour to be appointed to the position of Governor. 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. I will endeavour to carry out the duties of Governor to the best of my ability.”
Datuk Abdul Rasheed joined the 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, 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.