PUTRAJAYA (June 22): The Malaysian government announced today that His Majesty Yang di-Pertuan Agong had on Tuesday, June 19, agreed to Prime Minister Tun Dr Mahathir Mohamad's recommendation to appoint Datuk Nor Shamsiah Mohd Yunus as Bank Negara Malaysia Governor.

In a statement today, Finance Minister Lim Guan Eng said his Ministry has been instructed to make the announcement.

Lim said the recommendation was made on June 18, and royal consent was obtained a day later on June 19.

Nor Shamsiah's appointment will be effective July 1 this year, for a term of five years until June 30, 2023.

Nor Shamsiah was a Deputy Governor at the central bank from 2010 until 2016, and she recently served as Assistant Director of the Monetary and Capital Markets Division of the International Monetary Fund.

"As Deputy Governor, Datuk Nor Shamsiah was responsible for banking, insurance and Takaful supervision, financial intelligence and enforcement, talent management, finance and shared services of the central bank," Lim said.

Nor Shamsiah joined Bank Negara in 1987 and has served in various areas including prudential regulations, legislation, policies and guidelines for the financial sector and supervision.

She was involved in the financial sector resolution initiatives during the Asian financial crisis. She played a key role in the formulation and implementation of the Financial Sector Masterplan (2001-2010) and Financial Sector Blueprint (2011-2020) that charts the development of the Malaysian financial system.

Nor Shamsiah graduated from the University of South Australia with a Bachelor of Arts Degree in Accountancy and is a Certified Practising Accountant (CPA).