BNM appoints Lim Chee Sing as MPC external member

PETALING JAYA: Bank Negara Malaysia (BNM) has appointed Lim Chee Sing (pix) as an external member of the Monetary Policy Committee (MPC).

The appointment is for a two-year term, effective Jan 1, 2022.

From 2013 until 2017, Lim served as RHB Research Institute Sdn Bhd executive director and chairman. He was also RHB Banking Group chief economist and an equity market strategist for the Malaysian market for RHB Research Institute.

An economist by training, he began his career with BNM in 1981, where he worked for close to 11 years. He then joined RHB Research Institute as its regional economist and was subsequently promoted to the head of research. Lim holds an MBA and a Bachelor’s degree in Economics from the University of Malaya.

BNM also announced that Datuk Dr Gan Wee Beng will step down from his current position as external member of the MPC on April 1, 2022. He has been on the MPC since April 1, 2019.

Under the Central Bank of Malaysia Act 2009 (CBA), the MPC is responsible for formulating monetary policy and deciding on policies for the conduct of monetary policy operations. The CBA also sets out the process for appointing members to the MPC.

Members of the MPC include BNM governor Tan Sri Nor Shamsiah Mohd Yunus, deputy governor Datuk Abdul Rasheed Ghaffour, deputy governor Jessica Chew Cheng Lian, deputy governor Marzunisham Omar, assistant governor Norzila Abdul Aziz, assistant governor Dr Norhana Endut, Gan (until April 1, 2022), Nor Zahidi Alias and Lim.