BNM declines to comment on talk of Governor resigning

KUALA LUMPUR: Bank Negara Malaysia (BNM) has declined to comment on talks that its Governor, Tan Sri Muhammad Ibrahim, had offered to resign.

Social media has been rife with the rumour of his resignation following news quoting people familiar with the matter.

Muhammad assumed the office of Governor on May 1, 2016, succeeding Tan Sri Dr Zeti AKhtar Aziz. He is the 8th Governor.

BNM was previously embroiled in a controversy over a RM2 billion land purchase which is said to be linked to the 1Malaysia Development Bhd (1MDB) fiasco.

The Finance Ministry confirmed several news reports published in Wall Street Journal and Reuters claiming the ministry had made payments on behalf of 1MDB to service the latter's debt obligations.

The sources for the payments included redemption of Redeemable Cumulative Convertible Preference Shares (RCCPS) by Khazanah Nasional Bhd amounting to RM1.199 billion and the sale of a piece of land to BNM amounting to RM2.066 billion. — Bernama