BNM appoints Lim Chee Sing as MPC external member

by BERNAMA / pic credit: BNM

KUALA LUMPUR – Bank Negara Malaysia (BNM) has appointed Lim Chee Sing (picture) as an external member of the Monetary Policy Committee (MPC) for a two-year term effective Jan 1, 2022.

Lim, an economist by training, holds a Master of Business Administration and a Bachelor’s degree in Economics from the University of Malaya, a statement from the central bank said.

He began his career with BNM in 1981, where he worked for close to 11 years. He then joined RHB Research Institute Sdn Bhd as its regional economist and was promoted to head of research.

Lim served as executive director and chairman of RHB Research Institute from 2013 to 2017.

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

BNM governor Tan Sri Nor Shamsiah Mohd Yunus welcomed Lim on board, saying that he brings with him a wealth of expertise and experiences. She also thanked Gan for his contributions to BNM’s monetary policy formulation over the last three years.

Besides Lim and Gan, the MPC members currently include Nor Shamsiah, deputy governor Abdul Rasheed Ghaffour, deputy governor Jessica Chew Cheng Lian, deputy governor Marzunisham Omar, assistant governor Norzila Abdul Aziz, assistant governor Norhana Endut, and Nor Zahidi Alias.

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.