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Nor Shamsiah named as Bank Negara's new governor

Bloomberg
Bloomberg6/22/2018 11:54 AM GMT+08  • 1 min read
Nor Shamsiah named as Bank Negara's new governor
(June 22): Malaysia named Nor Shamsiah Mohd Yunus, a former central bank official who investigated the scandal-plagued state fund 1MDB, as governor of the regulator.
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(June 22): Malaysia named Nor Shamsiah Mohd Yunus, a former central bank official who investigated the scandal-plagued state fund 1MDB, as governor of the regulator.

Shamsiah, who was deputy governor at Bank Negara Malaysia for six years until she left in November 2016, will replace Muhammad Ibrahim, who resigned from the top job earlier this month after questions were raised about the central bank’s role in a deal linked to 1MDB. Muhammad was less than halfway through his five-year term when he left.

Prime Minister Mahathir Mohamad’s spokesman confirmed the appointment after it was approved by the king.

The new governor is taking over at a time of Malaysia’s biggest political upheaval in decades following last month’s unexpected election win for Mahathir. One of his first steps was to reopen an investigation into 1MDB, the state-owned investment fund mired in multi-billion dollar corruption probes around the world.

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