Zeti Akhtar Aziz Explained

Honorific-Prefix:Yang Mulia Tan Sri Datuk Seri Utama Dr.
Ungku Zeti Akhtar Aziz
Order1:7th
Office1:Governor of the Central Bank of Malaysia
Term Start1:1 May 2000
Term End1:30 April 2016
Predecessor1:Ali Abul Hassan Sulaiman
Successor1:Muhammad bin Ibrahim
Office2:Member of the Malaysian Council of Eminent Persons
Term Start2:12 May 2018
Term End2:21 August 2018
Predecessor2:Position established
Successor2:Position abolished
Office3:Group Chairman of Permodalan Nasional Berhad
Predecessor3:Abdul Wahid Omar
Successor3:Arifin Zakaria
Term Start3:1 July 2018
Term End3:30 April 2021
Office4:Chairman of Sime Darby Property
Predecessor4:Abdul Wahid Omar
Successor4:Rizal Rickman Ramli
Term Start4:23 July 2018
Term End4:6 May 2021
Birth Name:Zeti Akhtar Aziz
Birth Date:27 August 1947
Birth Place:Johor Bahru, Johor, Malayan Union (now Malaysia)
Parents:Ungku Aziz
Azah Aziz
Alma Mater:University of Malaya
University of Pennsylvania
Profession:Economist
Signature:Zeti Akhtar Aziz Signature 11 March 2015.png

Ungku Zeti Akhtar binti Ungku Abdul Aziz (born 27 August 1947) was the 7th Governor of Bank Negara Malaysia, Malaysia's central bank. She served as Governor from 2000 to 2016, and was the first woman in the position and at 16 years, the longest to hold the position. Zeti was one of the members of the Council of Eminent Persons (CEP) in Mahathir's second administration, a special advisory council advising the government on economic and financial matters during this transitional period.[1]

Early life

Zeti Akhtar Aziz was born in Johor Bahru, Johor on 26 August 1947; to father Ungku Aziz, who is of Malay, Circassian[2] [3] and English[4] descent, and mother Sharifah Azah Mohamed Alsagoff, who was of Hadhrami Arab and Malay descent.[5] [6] Her father Ungku Aziz was an economist and former vice-chancellor for the University of Malaya from 1968 to 1988. He received the title "Royal Professor".

She received her early education at the Assunta School, Petaling Jaya in 1964. She then completed her Form 6 in St. John's Institution, Kuala Lumpur. In 1970, she received a bachelor's degree in Economics from University Malaya.

She continued her studies in the Department of Economics at the University of Pennsylvania (Penn), an Ivy League university in Philadelphia, receiving a PhD in monetary and international economics in 1978. As part of her PhD dissertation, she carried out pioneering work on capital flows and its implications for monetary policy.

Career

Zeti began her career as an economic analyst for the South-East Asia Central Bank Training & Research Center, remaining at that post from 1979 to 1984. She was then appointed Deputy Manager of the Economics Department at Bank Negara Malaysia.

In 2009, Global Finance named her as one of the world's best central bank chiefs.[7] In 2010 during the national-level Ma'al Hijrah celebrations held that year, the Malaysian government had awarded her the title of "Tokoh Ma'al Hijrah 1432H" ("Figure of the New Year 1432AH").[8]

On 20 May 2011, Bloomberg columnist William Pesek had picked Zeti, during her post as Bank Negara governor, as one of his top four nominees to head the prestigious International Monetary Fund 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.[9]

In 2013, she was again accorded “Grade A” among the heads of central banks for the 10th time by the Global Finance magazine. She was awarded alongside 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.[10]

Zeti was named the recipient of Central Banking's Lifetime Achievement Award in 2016.[11]

She receives The Royal Award for Islamic Finance in honouring the excellence service in Islamic Finance on 3 October 2018.[12] [13]

Zeti who was the Chairman of the Asian Institute of Finance has also receives the William “Bill” Seidman Award for Lifetime Achievement in Leadership in the Financial Services Industry for 2018.[14]

On 12 May 2018 just after the 2018 general election (GE14), the new Pakatan Harapan (PH) ruling coalition Prime Minister Mahathir Mohamad announced that Zeti was appointed as one of the members of the Council of Eminent Persons (CEP) to serves as advisors to the new PH government.[1] She joined Daim Zainuddin, Robert Kuok, Jomo Kwame Sundaram and Hassan Marican.[15] The purpose of the council was to advise the government on matters pertaining to economic and financial matters during the 100-days transition of power period.[16] [17]

Zeti was appointed the Group Chairman of Permodalan Nasional Berhad (PNB) on 1 July 2018.[18] She was also appointed the Chairman of Sime Darby Property. She is the first woman to hold the post.[19]

Personal life

Zeti is married to Tawfiq Ayman[20] and they have two children.[21]

Honours

Honours of Malaysia

Foreign honour

Notes and References

  1. News: Who's who in Mahathir's new Cabinet and Council of Elders. 13 May 2018. The Straits Times. 12 May 2018.
  2. http://cgm.cs.mcgill.ca/~hagha/library/attas.htm Syed Muhammad Naquib al-Attas
  3. https://web.archive.org/web/20090408093155/http://www.thestar.com.my:80/lifestyle/story.asp?file=/2007/4/1/lifefocus/17281586&sec=lifefocus Taking root, branching out
  4. Abid, Jaafar, pp66
  5. News: Finance's female face. 2005-12-29 . TMCnet.com.
  6. News: The world's successful diasporas. 2007-04-03 . managementtoday.com.
  7. News: Dr. Zeti Akhtar Aziz the world's best central bank chief. Sep 13, 2010 . All Voices.com.
  8. News: Tan Sri Dr Zeti named 'Tokoh Ma'al Hijrah'. December 7, 2010 . The Star.
  9. News: Zeti one of Bloomberg columnist's top picks to head IMF. May 21, 2011. The Malaysian Insider.
  10. News: Bank Negara's Zeti awarded 'Grade A' among central bank governors. Aug 27, 2013. The Star.
  11. Web site: Lifetime achievement award: Zeti Akhtar Aziz. 2016-01-14. Central Banking. 2019-05-14.
  12. Web site: Tan Sri Dr. Zeti Akhtar Aziz, 5th Recipient of the Royal Award for Islamic Finance – A Collection of Speeches and Public Lectures in Connection With the Royal Award 10th Year Anniversary. 28 January 2021. The Royal Award for Islamic Finance. 30 July 2021.
  13. Web site: Honouring Excellence in Islamic Finance: The 2018 Royal Award Recipient, Tan Sri Dr. Zeti Akhtar Aziz. 3 October 2018. Securities Commission Malaysia. 30 July 2021.
  14. Web site: Zeti Akhtar Aziz receives the William “Bill” Seidman Award for Lifetime Achievement in Leadership in the Financial Services Industry for 2018. 24 May 2018. The Asian Banker. 30 July 2021.
  15. News: hermesauto. 12 May 2018. Who's who in Mahathir's new Cabinet and Council of Elders. The Straits Times. 30 July 2018.
  16. News: CEP has ended its tenure, says Daim. August 20, 2018. Manirajan Ramasamy, Masriwanie Muhamading. New Straits Times. https://web.archive.org/web/20190810224239/https://www.nst.com.my/news/nation/2018/08/403488/cep-has-ended-its-tenure-says-daim. August 20, 2018 . 10 August 2019. live.
  17. News: Malaysia's Council of Eminent Persons completes 100 days, to submit recommendations. August 21, 2018. Channel News Asia. August 21, 2018. https://web.archive.org/web/20181020215941/https://www.channelnewsasia.com/news/asia/malaysia-s-council-of-eminent-persons-completes-100-days-to-10636614. 20 October 2018. live.
  18. Web site: Zeti }} PNB group chairman, takes over from Wahid - Business News The Star Online]. www.thestar.com.my. 2018-07-16.
  19. Web site: Sime Darby Property appoints Zeti as chairman - Business News The Star Online. www.thestar.com.my. 2018-07-25.
  20. News: Husband of former Malaysian central bank chief questioned by police. 15 April 2021. The Straits Times. 30 July 2021.
  21. News: 'S'pore alerted BNM on Jho Low transfers to Zeti's husband's company in 2015'. 27 February 2021. Malaysiakini. 30 July 2021.
  22. Web site: Senarai Penuh Penerima Darjah Kebesaran, Bintang dan Pingat Persekutuan Tahun 2001..
  23. Web site: Semakan Penerima Darjah Kebesaran, Bintang Dan Pingat. Prime Minister's Department (Malaysia). 25 December 2020.
  24. Web site: Celebration of Tan Sri Dr. Zeti Akhtar Aziz’s award of The Order of the Rising Sun, Gold and Silver Star. 27 April 2018. 1 March 2021. Embassy of Japan in Malaysia.