RM5 UNCUT NOTES

BANK NEGARA GOVERNOR- TAN SRI AHMAD BIN MOHD DON

Ahmad bin Mohd Don was the fifth Governor of Bank Negara, Malaysia. He succeeded Tan Sri Jaffar Hussein on May 1, 1994. Like his predecessor, Ahmad was also a chartered accountant by profession.

During his tenure he initiated the formulation of the central bank mission, aspiration and shared values. The outcome of all these efforts has now been incorporated in a document known as Strategic Plan 1995-2000

It was during his tenure that Asia was severely hit by rogue currencies speculators. Although the IMF prescribed the tightening interest rates as the remedy, Tun Mahathir chose to impose monetary controls including pegging the Ringgit to USD and slash lending rates.

In apparent disagreement with the move Ahmad Mohd Don and his deputy, Fong Weng Phak left the Bank in August 1998 after a service of 4 years and 3 months.

 

BANK NEGARA GOVERNOR-TAN SRI ALI ABUL HASSAN

Tan Sri Abul Hassan, a renowned economist, succeeded Tan Sri Ahmad as the sixth Bank Negara Governor at the height of the Asian financial turmoil. He adopted the proactive and business friendly policy to revive the economy.

His main focus was to improve Malaysia’s economy with specific initiatives to resuscitate and stimulate domestic and foreign investments.

He successfully steered Bank Negara to greater height and help to restore the business confidence and propelled Malaysian economy on a stronger platform.

As recognition to his achievements, upon his retirement in May 2000, Tan Sri Ali was appointed by Tun Mahathir, the then Prime Minister as the Malaysian government's Economic Adviser.