The Minister of Finance has approved the appointment of Jessica Chew Cheng Lian as the deputy governor of Bank Negara for a three-year term effective Jan 1, 2018, following the retirement of Sukudhew (Sukhdave) Singh on Dec 31, 2017.

In a statement today, BNM said that Sukhdave would enjoy the benefits accorded under the bank's terms and conditions.

BNM said as the deputy governor, Chew would be responsible for the financial sector regulation and development, including payment systems, organisational development sector and centralised shared services.

“She is currently assistant governor responsible for the development of regulations and policies in the banking and insurance sectors focusing on efficiency, innovation, market institutions and structures, development finance and talent development,” it said.

Chew would also be also responsible for payment systems development and regulation and oversight of the money services business, it said.

The central bank said Chew is also a member of Bank Negara Malaysia’s Monetary Policy Committee and the Financial Stability Committee.

Chew joined the bank in 1993 and has a Bachelor's Degree in Commerce, majoring in accounting and finance from the University of Melbourne, Australia, it said.

In line with her appointment, Deputy Governor Abdul Rasheed Ghaffour would oversee the monetary and economic sector, supervision sector, investment and operations sector as well as LINK and BNM Offices, Finance and Legal departments, it said.

- Bernama