KUALA LUMPUR: The appointment of Datuk Muhammad Ibrahim as the new Bank Negara Malaysia (BNM) governor was the right move as he is the “right man” for the post, economist Datuk Jalilah Baba said.
“He is definitely the man who will ensure the continuous financial stability of the country as he has the right skills and has been in the institution for quite some time,” she told Bernama.
She also expected Muhammad to give strong support towards the leadership of Prime Minister Datuk Seri Najib Razak, who is also Finance Minister.
“I’m sure that the corporate sites will applaud this appointment and I myself am very happy and support this move. He has the experience, he has what it takes for the position,” she added.
Meanwhile, Chief Economist of Alliance Bank Malaysia Bhd Manokaran Mottain expected the current financial policy to remain under Muhammad’s reign, which is positive for the financial markets.
“Muhammad is a home-grown Governor like (Tan Sri) Dr Zeti (Akhtar Aziz). Very long been trained to take over Dr Zeti. Good succession. His years of experience should make him the most appropriate person to lead BNM,” he added.
Meanwhile, CIMB Private Banking economist, Song Seng Wun says the appointment of Muhammad will be seen as a positive step.
"The market would like an experienced central banker at the helm in taking over from Tan Sri Dr Zeti Akhtar Aziz to ensure consistency in monetary policy," he said.
Muhammad, 56, has been appointed as BNM Governor effective May 1, 2016, replacing current Governor Tan Sri Zeti who will retire at the end of April.
Muhammad, who joined the central bank in 1984 and was appointed Deputy Governor in June 2010, will hold the post for five years.
He holds a Masters Degree from Harvard University, an Accounting Degree from Universiti Malaya and a postgraduate diploma in Islamic Banking and Finance from the International Islamic University Malaysia.
In his 32 years at the central bank, he covered many areas including bank regulations and supervision, strategic planning, payment systems, insurance, offshore banking and treasury, and financial markets.--BERNAMA