Bank Negara Malaysia (BNM) governor Zeti Akhtar Aziz is the daughter of the first Malaysian vice-chancellor of Universiti Malaya and professor of Economics. He got his doctorate in Economics from Japan.
She was also an Economics student of the then-Faculty of Economics and Administration between 1967-70. Her lecturers included former minister Rafidah Aziz and Dr Paul Chan of HELP University; both of whom taught us basic economics subjects. Her husband was also a classmate of hers.
We were all taught the well-known thesis of Professor Ungku Abdul Aziz Ungku Abdul Hamid’s research findings, i.e. that the middlemen, usually Chinese in rural Malaysia, were an unproductive or an unnecessary additional cost with inadequate value added for the services rendered. His big theory was about how to address issues of poverty especially in the rural countryside of Malaysia. He is well-regarded and well-acknowledged.
With such a great academic legacy and family heritage; from both sides of the family, it is my fervent hope and prayer that she would focus on finishing per public service excellently well, especially dedicated to uphold and grow value for the role, functions, and responsibilities of a central bank of Malaysia within our system of rule of law in Malaysia. She actually gets to develop the heritage and legacy of Ismail Ali; the first Bank Negara Malaysia governor of impeccable credibility and world-renown integrity.
Zeti Akhtar Aziz’s credibility
Zeti received her early education at Assunta Secondary School, Petaling Jaya from 1958. She then did her Form 6 in St John’s Institution, Kuala Lumpur. In 1970, she received a bachelor’s degree in Economics from Universiti Malaya.
She subsequently continued her studies in the Department of Economics at the University of Pennsylvania, receiving a PhD in monetary and international economics. As part of her PhD dissertation she carried out pioneering work on capital flows and its implications for monetary policy.
In 2000 she was appointed as the seventh governor of BNM and she was very well-recognised in her leadership and governance of the central bank of Malaysia. In 2009, Global Finance magazine named her as one of the world’s best central bank chiefs. In 2010, she was named ‘Tokoh Ma’al Hijrah 1432H’ at the national-level Ma’al Hijrah celebration.
In 2011, Bloomberg columnist William Pesek picked the Bank Negara governor as one of his top four nominees to head the prestigious International Monetary Fund (IMF) after the position became vacant following the resignation of Dominique Strauss-Kahn who was arrested in New York, and is presently facing sexual assault charges.
In 2013, she was accorded ‘Grade A’ among the heads of central banks for the 10th time by the Global Finance magazine. She was awarded alongside the Philippines’ central bank governor Amando Tetangco, Jr and Taiwan’s central bank governor Perng Fai-nan, from a list of central bank governors of more than 50 key countries.
Finishing public service well
As a person of faith, I believe, that regardless of perceived political fears and the threat of potential abuse to the Zeti Akhtar Aziz family, she should focus on finishing her brilliant career well and ensuring that the good name of her family and her public recognition and reputation is left intact, especially as she finally retires compulsorily.
The country is facing some of the greatest challenges we have ever faced. The world may face a slowdown and growth in Malaysia has been on a downward trend in the last so many years. The 1MDB scandal has reached a hectic pace and has now got Malaysia unnecessary international infamy in all the wrong areas and arenas; the final nail on the coffin of the 1MDB has yet to be fully secured.
My personal appeal to Zeti Akhtar Aziz is to focus on finishing well and leave all other matters beyond your control to God Almighty. After all, with a brilliant career so far and a fantastic reputation and image built for BNM, why go without honour and dignity for a role well-assumed and the job well-finished. Well done, good and faithful public servant.
There is no greater dignity and integrity than having assumed a personal role which we assume with sincerity and respect for preservation and protection of the integrity of our system that watched over us and grew us into the prescribed roles and responsibilities. But the real challenge is always not being allowed to finish well, as happened to some senior government appointees recently. It happened to me also.
Zeti Akhtar Aziz, surely you are bigger than all those who try to bring you down. Your name and family honour is greater than all they have or what they can give you. Your institution that nurtured you is greater than all those against you; these goons are part of parcel of the entitlement culture and they do not deserve to frighten you.
So please focus on finishing well and do not compromise your integrity and dignity for the some personal benefit of some lesser human beings.
At this stage of the game, what I can only do is to promise that I will pray for you and the courage needed to do just the right thing. As CS Lewis defined, integrity is doing the right thing when no one is watching. Please go ahead and do it right and may your family be proud of your finishing well and may many generations be proud that you finished well. May God bless you and Malaysia with such a rich heritage.
