Tan Sri Nor Shamsiah Mohd Yunus was the 9th Governor of the Central Bank of Malaysia. She chaired the Central Bank’s Monetary Policy Committee, the Financial Stability Committee and the Financial Stability Executive Committee.
Prior to her appointment as Governor, she served as Assistant Director of the Monetary and Capital Markets Division of the International Monetary Fund in Washington DC. Tan Sri Nor Shamsiah served the Central Bank of Malaysia for more than 34 years since 1987 and has served in various areas.
She led the bank through the COVID-19 pandemic, implementing emergency measures to preserve lives and livelihoods such as the blanket and subsequently, targeted moratorium on loans by individuals and SMEs; and providing stimulus to the economy through reduction in the Overnight Policy Rate (OPR). She has also ensured the bank's ability to meet its mandates and independence were not affected despite multiple changes in the government.
During her tenure, she navigated the Central Bank and the economy through inflation surge caused by, amongst others, Russia-Ukraine war in 2022 and global supply chain disruptions, through multiple increases in the OPR to manage demand pressures and inflation. Played a key role in resolving problematic financial institutions during the Asian Financial Crisis and instituting banking reforms thereafter to strengthen its resiliency.
She played a key role in implementing innovative policies and initiatives related to management of climate risks and promotion of green financing and financial inclusion, additionally, formulating and implementing three Financial Sector Blueprints - 2000-2010, 2011-2020 and 2022-2026 - to realise a more dynamic, inclusive financial sector on a sustainable development path.
She has helped develop digital banking and Islamic banking framework that led to the award of five digital banking licences under the conventional and Islamic banking laws. The digital insurance and takaful framework was also intoduced in 2023 , alongside, the enhancement of the digitalization and cyber resilience of the Bank.
She has also played an important role in strengthening the Bank’s human capital management, including spearheading the introduction and implementation of modern talent management initiatives such as:
- New job family structure with differentiated remuneration
- Comprehensive development approach towards improved feeder pool for leadership and mission critical positions
- Culture transformation initiative to future proof the Bank’s talent pool. Strengthened the Culture of Accountability and cultivated an open and respectful environment to maintain public confidence in the Bank.
During her tenure, she also represented the Central Bank as an ex-officio Director of Malaysian Deposit Insurance Corporation, Chairman of the Board of Directors of the South East Asian Central Banks (SEACEN) Research and Training Centre, and a non-executive member of the Audit Oversight Board of Malaysia. She also served as the Assistant Director of the Monetary and Capital Markets Department of the International Monetary Fund from April 2017 to June 2018.
She currently serves as an Independent Non-executive Director and a member of the Nomination Committee at AIA Group Limited and the Chancellor of INCEIF (International Centre for Education in Islamic Finance) University in Malaysia.
Tan Sri Nor Shamsiah graduated with a Bachelor of Arts in Accountancy from the University of South Australia in 1986. She is a fellow of the CPA Australia and a member of the Malaysian Institute of Accountants.
