Former Bank Negara governor Zeti Akhtar Aziz believes that the central bank will remain steadfast in performing its duties despite the resignation of its governor Muhammad Ibrahim.

“The central bank is a solid institution that was established to serve the people,” she said when met at Menara Ilham today after attending a Council of Eminent Persons meeting today.

Zeti, however, refused to comment further on the matter, saying she would reserve her remarks for the relevant authorities.

“You have to wait and see and I give my reaction to the people involved,” she said.

Prime Minister Dr Mahathir Mohamad had earlier confirmed the resignation of Muhammad who was appointed as the eighth Bank Negara governor on May 1, 2016, succeeding Zeti.

The prime minister said the government, however, had not decided on Muhammad’s successor, as the replacement needed the approval from the Yang di-Pertuan Agong Sultan Muhammad V.

UOB Kay Hian Securities in a research note said news had been circulating that former Bank Negara deputy governor Nor Shamsiah Mohd Yunus could be among the candidates being considered to succeed as the governor if Muhammad resigns.

“The potential appointment of Nor Shamsiah will ensure continuity in Bank Negara’s prudent and pragmatic approach in policy formulation while instilling confidence in the stability of our financial system,” it said.

The research firm said this was given the fact that Nor Shamsiah had worked in Bank Negara for some 29 years, and had played a key role in the preparation and implementation of the Financial Sector Masterplan for the development of the financial system from 2001 to 2010.

UOB Kay Hian said prior to leaving Bank Negara, she was the deputy governor from 2010 to 2016, and was even considered as one of the potential candidates to replace Zeti as Bank Negara governor back in 2016 given her level of experience and seniority.

“As such, we are not surprised that press reports have listed her as one of the potential candidates to succeed Muhammad,” it added.

– Bernama