Bank Negara appoints Abdul Rasheed as new deputy governor

Bank Negara Malaysia (BNM) has appointed Shaik Abdul Rasheed Abdul Ghaffour as deputy governor for a three-year term, effective July 16, 2016.

"As deputy governor, Abdul Rasheed will be responsible for the financial sector regulation and development, including payment systems as well as the international reserve management and money market operations and foreign exchange administration," the central bank said in a statement today.

With the appointment, BNM now has three deputy governors, as provided for by the Central Bank of Malaysia Act, 2009.

The other two are Datuk Nor Shamsiah Mohd Yunus and Dr Sukudhew Singh.

Abdul Rasheed is currently the assistant governor responsible for the Monetary Policy and Economics sector, which consists of the Monetary Policy, Economics, International and Statistical Services departments of BNM.

He is a member of the bank's Management Committee as well as several policy committees, namely the Monetary Policy Committee, Reserve Management Committee and Risk Management Committee.

Abdul Rasheed has served at the International Monetary Fund, Washington, as the Alternate Executive Director of the South-East Asia Voting Group on the IMF Executive Board.

He had a key role in the development and successful implementation of the Financial Sector Masterplan (2001-2010) and formulation of the Financial Sector Blueprint (2011-2020).

Abdul Rasheed, who joined BNM in 1988, had a Bachelor Degree in Economics from Universiti Malaya,.

He was also involved in the regional cooperation initiatives during Malaysia's Chairmanship of ASEAN.

This included the endorsement of the Summary of Achievements of ASEAN Financial Integration and the development of the ASEAN Financial Integration Plan-Post 2015.