Kuala lumpur: 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 January 1, 2026. The central bank stated that Nor Zahidi has been serving as an external member of the MPC since January 1, 2021.
According to BERNAMA News Agency, Nor Zahidi previously held positions as the chief economist at Malaysian Rating Corporation Bhd (MARC), senior analyst at The New Straits Times Press (M) Bhd, economist at Kuala Lumpur City Securities, head of research and chief economist at Alliance Merchant Bank, and head of research at MCIS Zurich Insurance. He holds a Master's degree in Economic Policy and a Bachelor's degree in Economics from Boston University.
The current members of the MPC include governor Datuk Seri Abdul Rasheed Ghaffour, deputy governors Datuk Marzunisham Omar, Adnan Zaylani Mohamad Zahid, and Aznan Abdul Aziz, as well as assistant governors Dr Norhana Endut, Fraziali Ismail, Mohamad Ali Iqbal Abdul Khalid, and external members Lim Chee Sing and Datuk Yogeesvaran Kumaraguru. The MPC, under the Central Bank of Malaysia Act 2009, is tasked with formulating and conducting monetary policy.
In addition to the MPC appointments, BNM announced the reappointment of three Shariah Advisory Council (SAC) members in accordance with section 53(1) of the CBA. The reappointed members include INCEIF University professor Datuk Prof Dr Ashraf Md Hashim, International Islamic University Malaysia honorary professor Prof Dr Engku Rabiah Adawiah Engku Ali, and independent shariah consultant Burhanuddin Lukman. Their terms are effective from January 1, 2026, until December 31, 2028.
The existing SAC members include Mufti of Selangor Datuk Dr Anhar Opir, INCEIF University 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 expressed appreciation to Datuk Prof Dr Mohamad Akram Laldin, who will conclude his service on the SAC on December 31, 2025. Appointed to the SAC on November 1, 2008, Mohamad Akram has been acknowledged for his contributions to the SAC and Malaysia's aspirations in Islamic finance. Abdul Rasheed expressed gratitude for Mohamad Akram's commitment and dedication during his appointment.
The SAC serves as the highest authority for determining Islamic law concerning Islamic financial business in Malaysia.