The Council of Eminent Persons (CEP) is not forcing CIMB Group chairperson Nazir Razak to resign before his contract term ends in August 2019.

CEP chairperson Daim Zainuddin said Nazir's choice on whether to do so was completely up to him.

“It is up to him; everyone has (to fulfil a) contract. If he wants to step down early, it's up to him,” he told reporters when asked to comment on a news report that Nazir was prepared to exit the banking group.

Daim was speaking at a media conference after launching the book, Aishah Ghani Srikandi Koperasi Jaya Murni Wanita Bhd (KJMWB), and the co-operative's new logo in Kuala Lumpur today.

Meanwhile, Nazir said in a statement that he had not decided whether to extend his term as CIMB Group chairperson, but would step aside if the board and shareholders of the financial services group and Bank Negara Malaysia wished for him to resign early.

The book launched today, which is published by the co-operative, revolves around the struggles of a prominent figure, the late Aishah Ghani, who led KJMWB from its formation in 1974 till it became one of the country's most successful and enduring Malay women co-operatives.

On the new logo, KJMWB chairperson Armi Zainudin said its introduction was in line with the need to attract new members who would be the next-generation leaders, besides appearing dynamic and fresh and projecting the desired stability.

"KJMWB is determined to accelerate its socio-economic activities so it needs to make preparations for the next growth phase, which will be very challenging in terms of the need for capital injection, strong ideas and a committed new crop of leaders,” she added.

- Bernama