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Malaysia can weather economic shock: former top banker

Former Bank Negara Malaysia governor Tan Sri Dr Zeti Akhtar Aziz has expressed confidence that the country’s economy has the capability to weather any potential crisis. — Picture by Choo Choy May. Sketched by the Pan Pacific Agency.

Pan Pacific Agency | COMMUICATION AGENCY FOR PACIFICA REGIONS

KUALA LUMPUR, Oct 2, 2019, Bernama. Former Bank Negara Malaysia (BNM) governor Tan Sri Dr Zeti Akhtar Aziz has expressed confidence that the country’s economy has the capability to weather any potential crisis, reported the MalayMail.

Speaking to reporters at the unveiling of the Asia School of Business Master of Central Banking programme, she said the country has put in place a system that is resilient and capable of withstanding economic shock.

“We are in a state of readiness to manage those (crisis) effects… history could be set back but we have the potential to manage it and bounce back,” she said here today.

Zeti, who is currently the chairman of Permodalan Nasional Bhd, said central banks would play an important role to support the economy if an economic crisis does occur.

“That is why central banks are such an important institution because of this kind of situation.

“They are in the frontline and therefore they need to have this strong capability (to manoeuvre the economy in a time of crisis),” she added.

On the Masters programme, she said it would equip high-potential central bankers with state-of-the-art knowledge and skills to meet the challenges of complex economic and political environments.

She said the intensive year-long residential programme is offered in collaboration with the MIT Sloan School of Management.

“The programme is currently under review by Malaysia’s Ministry of Higher Education, and aims to start in mid-2020, with an inaugural class from central banks around the world,” she said.

ASB was established in 2015 by BNM in collaboration with the MIT Sloan School of Management to be a premier global business school, a knowledge and learning hub infused with regional expertise, insights and perspectives of Asia and the emerging economies.

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