Bank Negara chief named Asia-Pacific central banker of the year

(Bernama Pic)
KUALA LUMPUR: Bank Negara Malaysia (BNM) governor Nor Shamsiah Mohd Yunus has been named the Central Banker of the Year Asia-Pacific 2019 by UK-based monthly financial magazine, The Banker.
 
In a statement today, BNM said the annual awards for Central Banker of the Year celebrate officials who have best managed to stimulate growth and stabilise their country’s economy. 
 
“They are conferred to central bankers across the world in categories including Global and Europe, Americas, Middle East, Asia-Pacific and Africa,” it said.
 
According to BNM’s summary of The Banker’s article on the award, Nor Shamsiah had undertaken a raft of reforms with the aim of boosting gross domestic product, tackling poverty and promoting greater transparency in banking. 
 
“She is also seen as a solid choice in pushing for stronger regulations and accountability in the country’s banking system,” BNM said.
 
The central bank said Nor Shamsiah had also reduced the threshold for transactions that must be reported to the central bank to RM25,000 from RM50,000, effective Jan 1, in order to address black market cash payments in Malaysia.
 
“Looking to the future, Nor Shamsiah plans to strengthen the country’s use of technology, recognising that it can be implemented for a range of services. 
 
“Tying in with her plans on strengthening the country’s regulatory landscape, the move towards digital payments is hoped to reduce dependence on cash and tackle financial crime,” it added.