Bank Negara Malaysia wishes to announce the appointment of Encik Nor Zahidi Alias and reappointment of Dato’ Dr. Gan Wee Beng as external members of Bank Negara Malaysia’s Monetary Policy Committee for two-year terms, effective 1 January 2021 and 1 April 2021, respectively.

Under the Central Bank of Malaysia Act 2009, the Monetary Policy Committee of Bank Negara Malaysia is responsible for formulating monetary policy and policies for the conduct of monetary policy operations. The Central Bank of Malaysia Act 2009 also provides for the appointment of external members to the Monetary Policy Committee.

Encik Nor Zahidi Alias

Encik Nor Zahidi Alias was the Chief Economist of the Malaysian Rating Corporation Berhad (MARC). Earlier in his career, he worked at The New Straits Times Press (M) Berhad as a senior analyst before subsequently joining Kuala Lumpur City Securities as an economist. Prior to his position in MARC, he was the Head of Research and Chief Economist of Alliance Merchant Bank and Head of Research of MCIS Zurich Insurance. Encik Nor Zahidi holds a Master’s degree in Economics Policy and a Bachelor’s degree in Economics from Boston University.

Dato’ Dr. Gan Wee Beng

Dato’ Dr. Gan Wee Beng has been on the Monetary Policy Committee since 1 April 2019. He is also 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. Prior to this, he was a Senior Advisor at the Economics Department of the Monetary Authority of Singapore, and consultant to the World Bank and International Labour Organisation. 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, and a Master’s degree and a Bachelor’s degree in Economics from the University of Malaya.

The appointment of Encik Nor Zahidi Alias 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 appointment, the Monetary Policy Committee will comprise a total of eight members.

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. Deputy Governor Marzunisham Omar
5. Assistant Governor Norzila Abdul Aziz
6. Assistant Governor Dr. Norhana Endut
7. Dato’ Dr. Gan Wee Beng
8. Encik Nor Zahidi Alias