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Appointment of Two External Members to Bank Negara Malaysia’s Monetary Policy Committee

Ref No : 04/19/09 29 Apr 2019 Embargo : For immediate release    

Bank Negara Malaysia wishes to announce the reappointment of Professor Dr. Yeah Kim Leng and the appointment of Dato’ Dr. Gan Wee Beng as external members of Bank Negara Malaysia’s Monetary Policy Committee, effective 1 April 2019. This follows from the enactment of the Central Bank of Malaysia Act 2009, which provides for the appointment of external members to the Monetary Policy Committee. The reappointment of Professor Dr. Yeah Kim Leng is for a one-year term while the appointment of Dato’ Dr. Gan Wee Beng is for a two-year term.

The Monetary Policy Committee is responsible for formulating monetary policy and policies for the conduct of monetary policy operations. Monetary policy is autonomously formulated and implemented by Bank Negara Malaysia, as mandated in the Central Bank of Malaysia Act 2009.

Professor Dr. Yeah Kim Leng

Dr. Yeah Kim Leng is a Professor of Economics in the Sunway University Business School, Sunway University, after serving as the Dean of the School of Business at the Malaysia University of Science and Technology. He is also the Director of the Economic Studies Program at the Jeffrey Cheah Institute on Southeast Asia, a Senior Fellow at the Jeffrey Sachs Center on Sustainable Development at Sunway University and a Deputy President of the Malaysian Economic Association. Dr. Yeah was previously the Group Chief Economist at RAM Holdings Bhd, having served the organisation for two decades. Prior to joining RAM, Dr. Yeah was a senior analyst at the Institute of Strategic and International Studies (ISIS) Malaysia. Dr. Yeah holds a PhD in Agriculture and Resource Economics and an MBA from the University of Hawaii, US.

Dato’ Dr. Gan Wee Beng

Dato’ Dr. Gan Wee Beng is currently a Board Member of Perbadanan Insurans Deposit Malaysia (PIDM). He was previously a board member at Kumpulan Wang Persaraan (KWAP) and has held several positions in CIMB Group including as Advisor for Investment Banking, and Executive Director at CIMB Bank, CIMB Investment Bank and CIMB Securities Berhad. Prior to this, he was a Senior Advisor at the Economics Department of the Monetary Authority of Singapore, and consultant to the World Bank, International Labour Organisation and Bank Negara Malaysia. He was also a Research Fellow at the Malaysian Institute of Economic Research. Dato’ Dr. Gan holds a PhD in Economics from the University of Pennsylvania, USA and an MSc in Economics from the University of Malaya.

The appointments of Professor Dr. Yeah Kim Leng and Dato’ Dr. Gan Wee Beng will continue to enhance the collective expertise and experience relevant to the responsibilities and functions of the Monetary Policy Committee. With their appointments, the Monetary Policy Committee will comprise seven members in total.

Members of the Monetary Policy Committee

  1. Governor Nor Shamsiah Yunus
  2. Deputy Governor Abdul Rasheed Ghaffour
  3. Deputy Governor Jessica Chew Cheng Lian
  4. Assistant Governor Norzila Abdul Aziz
  5. Assistant Governor Marzunisham Omar
  6. Professor Dr. Yeah Kim Leng
  7. Dato’ Dr. Gan Wee Beng

Bank Negara Malaysia
29 Apr 2019

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