BNM deputy governor Sukhdave Singh to retire at year-end

PETALING JAYA: Bank Negara Malaysia (BNM) deputy governor Dr. Sukudhew (Sukhdave) Singh will retire on Dec 31, 2017 after serving the central bank for over 31 years.

Sukhdave will be replaced by Chew Cheng Lian (Jessica), whose appointment has been approved by the Minister of Finance. She will serve as deputy governor for a three-year term effective Jan 1, 2018.

In a statement today, BNM expressed its appreciation and gratitude to Sukhdave for his contribution and illustrious career with the bank.

“As a retiree, Sukhdave will enjoy the benefits accorded under the terms and conditions of the bank,” it said.

As deputy governor, Chew will be responsible for the financial sector regulation and development including payment systems, organisational development sector and centralised shared services.

Chew is currently the assistant governor responsible for the development of regulations and policies in the banking and insurance sectors focusing on efficiency, innovation, market institutions and structures, development finance and talent development.

She is also responsible for payment systems development and regulation and oversight of the money services business. She is a member of BNM’s Monetary Policy Committee and the Financial Stability Committee.

Chew, who joined BNM in 1993, has over 20 years experience in financial sector regulation and supervision in which she was involved in the development of the Financial Sector Master Plan (FSMP) (2001-2010) and subsequently the Financial Sector Blueprint (2011-2020).

In line with her appointment, deputy governor Abdul Rasheed Ghaffour will oversee the monetary and economics sector, supervision sector, investment and operations sector as well as LINK and BNM offices, finance and legal departments effective Jan 1, 2018.