BNM Reappoints One MPC External Member, Three Shariah Advisory Council Members

KUALA LUMPUR, Dec 31 (Bernama) -- Bank Negara Malaysia announced the reappointment of Nor Zahidi Alias as an external member of the Monetary Policy Committee (MPC) for a three-year term, effective Jan 1, 2026.

The central bank said in a statement today that Nor Zahidi has been an external member of the MPC since Jan 1, 2021.

Previously, he was the Malaysian Rating Corporation Bhd (MARC) chief economist; The New Straits Times Press (M) Bhd senior analyst; Kuala Lumpur City Securities economist; Alliance Merchant Bank head of research and chief economist; and MCIS Zurich Insurance head of research.

Nor Zahidi holds a Master’s degree in Economic Policy and a Bachelor’s degree in Economics from Boston University.

Currently, members of the MPC are governor Datuk Seri Abdul Rasheed Ghaffour, deputy governor Datuk Marzunisham Omar, deputy governor Adnan Zaylani Mohamad Zahid, deputy governor Aznan Abdul Aziz, assistant governor Dr Norhana Endut, assistant governor Fraziali Ismail, assistant governor Mohamad Ali Iqbal Abdul Khalid, external member Nor Zahidi Alias, external member Lim Chee Sing and external member Datuk Yogeesvaran Kumaraguru.

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.

Meanwhile, BNM also announced the reappointment of three Shariah Advisory Council (SAC) members in accordance with section 53(1) of the CBA.

They are INCEIF University professor, Datuk Prof Dr Ashraf Md Hashim; International Islamic University Malaysia, Institute of Islamic Banking and Finance honorary professor Prof Dr Engku Rabiah Adawiah Engku Ali; and independent shariah consultant Burhanuddin Lukman effective Jan 1, 2026 until Dec 31, 2028. 

Currently, the existing members are Mufti of Selangor Datuk Dr Anhar Opir, INCEIF University, ISRA Institute deputy president research Dr Marjan Muhammad, Permodalan Nasional Bhd head of shariah management Dr Ahmad Basri Ibrahim; INCEIF University Centre for Excellence in Islamic Social Finance director Prof Dr Amir Shaharuddin; and Majlis Agama Islam Wilayah Persekutuan member Dr Abdul Rahim Abdul Rahman. 

BNM also expressed its deepest appreciation to Datuk Prof Dr Mohamad Akram Laldin who completes his service on the SAC on Dec 31, 2025. Mohamad Akram was appointed to the SAC on Nov 1, 2008.

“The SAC significantly contributes to Malaysia’s aspirations in Islamic finance. Throughout his appointment, Mohamad Akram has made substantial contributions to the SAC. I would like to express my heartfelt gratitude for his steadfast commitment and dedication,” said Abdul Rasheed.

The SAC is the highest authority for the ascertainment of Islamic law for purposes of Islamic financial business in Malaysia.

-- BERNAMA