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Muhammad Ibrahim takes over from Zeti

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Published Wed, Apr 27, 2016 · 09:50 PM

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    Kuala Lumpur

    MUHAMMAD Ibrahim has been appointed the next governor of Bank Negara Malaysia (BNM) with effect from May 1 - taking over from Zeti Akhtar Aziz, who retires at the end of April after helming the central bank for 16 years. His appointment, announced by Prime Minister Najib Razak in a statement on Wednesday, ends months of speculation over who would fill the "hot seat".

    Having a safe pair of hands at BNM became all the more imperative this week after troubled state investment fund 1MDB defaulted on a US$50 million interest payment on a US$1.75 billion bond issue by its subsidiary, 1MDB Energy (Langat) Ltd - the first by a near-sovereign entity.

    Bank Negara Malaysia

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