Former Bank Negara deputy governor Nor Shamsiah Mohd Yunus is among the candidates being considered to succeed governor Muhammad Ibrahim if he resigns, two sources said today.

Malaysia is discussing exit terms for Muhammad, and an announcement could be made as early as Wednesday, people aware of the discussions said.

"There are talks being arranged with Nor Shamsiah Mohd Yunus," said one government source, speaking on condition of anonymity. No decision has yet been made.

Nor Shamsiah left Bank Negara after her term ended in November 2016.

Another former deputy governor, Sukhdev Singh, is also being considered, the source added.

Sukhdev stepped down in 2017 after 31 years in office.

No decision has yet been made.

Muhammad had taken over as governor from longstanding chief Zeti Akhtar Aziz, who left after her term ended in 2016.

“Terms of his (Muhammad’s) exit are being discussed and an announcement on his resignation could come out as early as tomorrow,” one of the people aware of the discussions said on condition of anonymity.

Muhammad, a career central bank official, has finished less than half of the five-year term he began in May 2016.

A source close to the Prime Minister’s office confirmed plans to announce a decision on Wednesday. The source said Muhammad offered his resignation to Mahathir on Tuesday morning. It was not clear if the resignation was accepted.