Published: Fri, June 08, 2018
Global News | By Blake Casey

June 2018 - BNM governor resigning? - News - FACTIVA - SHOWCASE

June 2018 - BNM governor resigning? - News - FACTIVA - SHOWCASE

One said he is going to go after the those involved in the 1MDB graft scandal while the other said he resigning but his conscience is clear.

There have been rumours lately that Bank Negara Malaysia's (BNM) Governor, Tan Sri Muhammad Ibrahim, has offered to resign from his position.

These include a statement by Malaysian Prime Minister Mahathir Mohamad that his government intends to re-look the proposed link between the Singapore and Malaysia bourses.

Dr Mahathir said the decision on the central bank governor's successor hasn't been taken yet because the King's approval is needed first.

Dr Mahathir, who has promised to reform state institutions and stamp out corruption, this week also replaced the attorney-general and the chief of the anti-graft agency.

He has reopened investigations into state development fund 1Malaysia Development Berhad (1MDB) founded by Mr Najib, which is the subject of a global money-laundering probe.

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Asked when the government would meet the Agong, Dr Mahathir said as soon as possible. He had risen through the ranks of the central bank since joining it in 1984 and was endorsed by Zeti when she left as a successor able to provide policy stability.

The prime minister said the government was now waiting for the palace to approve a candidate to replace Muhammad.

Mr Muhammad had defended the land purchase, saying it complied with government requirements. Even so, Muhammad has been under mounting pressure recently as pointed questions were aimed at him over the controversial deal.

"We will not announce it today", he said at the press conference after attending the cabinet meeting here today.

"I can not in good conscience continue if it affects the Bank's image and reputation".

Other tasks on his immediate agenda included repealing oppressive laws, and reviewing Malaysia's contracts with other countries.

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