Deputy Governor Dr Sukhdave Singh retires from Malaysian central bank

Bank Negara Malaysia Deputy Governor leaves after an 'illustrious' 31-year career

Dr Sukhdave Singh

Dr Sukhdave Singh, one of Malaysia’s most respected economist and central banker, will be leaving Bank Negara Malaysia (BNM) after an ‘illustrious’ 31-year career.

He retires as the senior most Deputy Govenor (DG) of the central bank effective 31 Dec 2017.

“The Bank would like to record its utmost appreciation and gratitude to Dr. Sukhdave for his contribution and illustrious career spanning over 31 years with the Bank. As a retiree, Dr Sukhdave will enjoy the benefits accorded under the terms and conditions of the Bank,” the central bank said in a statement released today (28 Nov 2017).

SEE ALSO: Dr Sukhdave reappointed as Bank Negara Malaysia deputy governor

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Sukhdave was very popular among felow economist. For many years, he was invited to deliver the Bank Negara Malaysia Governor’s Address organised by the Malaysian Economic Association, always held after the release of the central bank’s annual report.

“He knows his stuff. He could connect the dots,” a Kuala Lumpur-based economist told Asia Samachar.

In one recent posting on social media, Sukhdave shared a photo of his brief meeting with then Indian Prime Minister Dr Manmohan Singh, himself a former Govenor of Reserve bank of India (RBI), India’s central bank.

“Met VIPs and VVIPs, but this brief meeting made the greatest impression on me,” Sukhdave said in in the one-liner accompanying the photo.

Sukhdave, one of the most senior Sikhs in financial regulation in Southeast Asia, was reappointed for another three-year term as the BNM DG. Hence, his departure is an early retirement.

In the 2016 announcement, the bank said he would continue to oversee the monetary and economics sector as well as several departments under the organisational development sector of the bank.

He joined BNM in 1986 and holds a PhD in Monetary and International Economics from Vanderbilt University, USA.

In 2013, he was made a deputy governor. He was then serving as an assistant governor responsible for the monetary and economics sector, which also included the international and statistical services functions of the central bank.

In the latest statement, BNM announced the promotion of assistant governor Jesicca Chew Cheng Lian to DG, joining Shaikh Abdul Rasheed Abdul Ghaffour. The central bank is allowed to appoint up to three  DGs.

Dr Sukhdave Singh in a brief meeting with former Indian Prime Minister Dr Manmohan Singh

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Dr Sukhdave reappointed as Bank Negara Malaysia deputy governor (Asia Samachar, 24 March 2016)

Meet the experts in regulatory compliance (Asia Samachar, 11 Oct 2017)

Pride of Lions (Asia Samachar, 28 Oct 2017)

Banker Deep Singh joins Singapore-based EFA Group (Asia Samachar, 13 May 2017)


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