Governor of Central Bank of Malaysia

Governor Central Bank of Malaysia YBhg. Datuk Muhammad bin Ibrahim

Muhammad bin Ibrahim 8th Governor of BNM
In office 1 May 2016 – Now
Preceded by	Zeti Akhtar Aziz
Personal details
Born	1960
Nationality	Malaysia
Alma mater	IIUM University of Malaya HKS, Harvard University HBS, Harvard University
Religion	Islam
Website	Bank Negara Malaysia

The Governor of The Central Bank of Malaysia (Malay: Bank Negara Malaysia) is the highest ranked position in the financial and economics sector in Malaysia. The Governor is the head of all the financial institutions in Malaysia. He does the bank affairs based on the regulations given by the BNM BNM Board of Directors.

Section 15 (1) of the Central Bank of Malaysia Act 2009 stated that the Governor is elected by Yang di-Pertuan Agong, the Supreme Head of Malaysia whilst the Deputy Governor is elected by a Minister (that is from Financial Department).

Until now, the number of the Governors of BNM is 8 (data collected from 1 May 2016). The current Governor is Muhammad bin Ibrahim.

History

The First Governor of BNM, W. H. Wilcock is an Australian citizen. In September 1956, a legislative proposals and policy for the establishment of a Central Bank in Malaya was issued in "Caine Watson Reports".

At that time, W. H. Wilcock served as Deputy Governor Commonwealth Bank of Australia ( now the Reserve Bank of Australia). In 1958, he came to Malaya as the Financial Advisor to the Government of the Federation of Malaya.

In 1959, W. H. Wilcock was appointed by Yang di-Pertuan Agong as a Governor First and Chairman of the Board of the Central Bank of Malaya ( back then it was known as Bank Negara Tanah Melayu ) for 2 years. The Federation of Malaya Government renew his contract for another 6 months.

He retired from the post of Governor BNM in 1962 and returned to Australia to fill the position as General Manager at the Notes Printing Division on Reserve Bank of Australia and oversaw the introduction of the decimal currency Australia.

After that, the second Governor, Ismail Mohd Ali came in place followed by Abdul Aziz Taha as third, Jaffar Hussein as fourth, Ahmad Mohd. Don as fifth, Ali Abul Hassan Sulaiman as sixth, Zeti Akhtar Aziz as seven and the first woman Governor as Muhammad Ibrahim as eight and the current Governor of BNM.

Powers of the bank

The bank is endowed with certain powers through establishment of legal Acts by the Parliament of Malaysia to help fulfill its objectives. New legislation are created and current legislation is amended to reflect the needs of the time and future.

Central Bank of Malaysia Act 2009

Provides the establishment, administration and powers of the bank.^[1] This act repealed the Central Bank of Malaysia Act 1958.

Financial Services Act 2013

Consolidates the regulatory and supervisory framework for Malaysia’s banking industry, insurance industry, payment systems and foreign exchange administration matters.^[1] This act repealed Banking and Financial Institutions Act 1989, Insurance Act 1996 (though sections 144, 147(4), 147(5), 150, 151 and 224 of the Insurance Act 1996 continue to remain in full force and effect by virtue of section 275 of FSA 2013), Payment Systems Act 2003 and Exchange Control Act

Islamic Financial Services Act 2013

Sets out the regulatory framework for Malaysia’s Islamic financial sector with the principal regulatory objectives of promoting financial stability and compliance with Shariah.^[1] This act repealed Islamic Banking Act 1983 and Takaful Act 1984.

Money Services Business Act 2011

Gives the bank the power to license and regulate money changing business in Malaysia.

List of Governors of BNM

No.	Name	Picture	Duration		Minister of Finance	Managing Director IMF	President WBG
No.	Name	Picture	Start	End	Minister of Finance	Managing Director IMF	President WBG
1	W. H. Wilcock Tan Sri William Howard Wilcock		Januari 1959	Julai 1962	Henry Lee Hau-shik Tan Siew Sin	Per Jacobsson	Eugene R. Black, Sr.
2	Ismail Mohd Ali Tun Ismail bin Mohd Ali		Julai 1962	Julai 1980	Tan Siew Sin Abdul Razak Hussein Hussein Onn Tengku Razaleigh Hamzah	Per Jacobsson Pierre-Paul Schweitzer Johan Witteveen Jacques de Larosière	Eugene R. Black, Sr. George D. Woods Robert McNamara
3	Abdul Aziz Taha Tan Sri Dato' Abdul Aziz bin Haji Taha		July 1980	June 1985	Tengku Razaleigh Hamzah Daim Zainuddin	Jacques de Larosière	Robert McNamara Alden W. Clausen
4	Jaffar Hussein Tan Sri Dato' Jaffar bin Hussein		June 1985	May 1994	Daim Zainuddin Anwar Ibrahim	Jacques de Larosière Michel Camdessus	Alden W. Clausen Barber Conable Lewis T. Preston
5	Ahmad Mohd Don Tan Sri Dato Ahmad bin Mohd. Don		May 1994	August 1998	Anwar Ibrahim	Michel Camdessus	Lewis T. Preston James Wolfensohn
6	Ali Abul Hassan Sulaiman Tan Sri Dato' Seri Ali Abul Hasan Sulaiman		September 1998	1 May 2000	Anwar Ibrahim Mahathir Mohammad Daim Zainuddin	Michel Camdessus	James Wolfensohn
7	Zeti Akhtar Aziz YM Tan Sri Dato' Seri Dr. Ungku Zeti Akhtar binti Prof. DiRaja Tun Dr. Ungku Abdul Abdul Aziz		1 May 2000	28 April 2016	Daim Zainuddin Mahathir Mohammad Abdullah Ahmad Badawi Mohd. Najib Abdul Razak	Horst Köhler Rodrigo Rato Dominique Strauss-Kahn Christine Lagarde	James Wolfensohn Paul Wolfowitz Robert Zoellick Jim Yong Kim
8	Muhammad Ibrahim Datuk Muhammad bin Ibrahim		1 May 2016	Now	Mohd. Najib Abdul Razak	Christine Lagarde	Jim Yong Kim

References

1 2 3 "BNM Administered Legislation". Bank Negara Malaysia. Retrieved 4 December 2014.

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