Through a pandemic and four prime ministers, Bank Negara stood tall under governor Nor Shamsiah

KUALA LUMPUR, June 25 — “Outstanding achievement” is the most accurate phrase to illustrate Bank Negara Malaysia’s success in ensuring Malaysia stepped towards competitive and resilient economic growth under the outgoing governor Tan Sri Nor Shamsiah Mohd Yunus’ leadership.

Nor Shamsiah replaced Tan Sri Muhammad Ibrahim to become the ninth governor on July 1, 2018, and the second woman to be appointed as BNM governor after Tan Sri Zeti Akhtar Aziz. Yeah said it is a testimony to her strong leadership, the institution’s mandated independence and long-standing focus on human capital development.

Nor Shamsiah had said that such initiatives were possible due to the buffers that Malaysia’s banking and financial system built over the years since the Asian Financial Crisis in 1997.As green shoots of recovery were starting, the Russia-Ukraine war in 2022 caused global inflation to skyrocket and end the decade-long deflation in advanced countries.

“The ability of the central bank to convey its independence in setting interest rates and responding objectively to permanent rather than transitory changes in the economic and financial environment is one of the contributing factors to market confidence.

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