Last thing we need, a ‘cari makan’ Bank Negara governor

Irwan’s possible Bank Negara chief posting raises concerns

ACR: Kudos to Serdang MP Ong Kian Ming for raising Finance Ministry secretary-general Irwan Serigar Abdullah’s direct involvement in Pembinaan PFI Sdn Bhd.

PFI (private finance initiative) as a funding concept for public projects has a terrible failure rate. The United Kingdom has some credible case studies in this regard.

Another glaring point to note is Irwan has no monetary policy experience. He has been a fiscal man throughout his career.

It may be interesting to note that of the three current deputy governors, only deputy governor Sukhdev Singh has direct experience in monetary policy management, but he is of the wrong colour to make the cut.

Ambassador to the United States Awang Adek would have been okay, but he has apparently declined to be considered.

Don’t even think about the suitability of commercial bankers. They usually know nuts about monetary policy and our past history of screw-ups took place when bankers were at the helm of Bank Negara.

BernieBaby: It would be unfair to judge this person on the basis of his religion or race.

My only objection is that he is politically aligned to Umno and will replicate (another PM Najib Razak’s appointee) attorney-general Mohamed Apandi Ali’s logic.

Oscar Kilo: How are you to maintain confidence in Bank Negara when you appoint a questionable individual to be the governor? Why bypass the existing Bank Negara deputy governors?

Fair Play: Let me say this. Creative accounting pursued by trained accountants (professionally qualified) is bad enough. But leave it to the untrained (not professionally qualified), a gigantic monster is in the making.

And who knows, Bank Negara would surely enter into uncharted waters if there is any truth in what The Wall Street Journal had reported. And the ringgit? Free fall into…?

Worldly Wise: Yes, Irwan does not seem to be beyond reproach. Bank Negara’s governor must be of impeccable integrity.

Kit P: Irwan certainly lacks the independence to play the role of a strong Bank Negara governor. He has been tainted by the scandals in the organisations in which he was a member of the board.

What did he know about that, and when did he know it?

I.am.malaysian: It is the government’s responsibility to ensure that the country’s assets and funds are well-managed and are transparent, but I can’t say this of the current government.

Our country has not projected a good image for several years now.

SimonTi: When there is no separation of powers and no independence of every vital institution in the country, confidence will be rocked: the ringgit, stock market would further crash.

The country’s reserves and economy would collapse when only cronies are appointed to vital institutions, where their sole purpose is only to protect the corrupt in power and all alleged crimes committed are hidden/swept under the Official Secrets Act (OSA).

It is only when the people, especially the poor kampung Malays, are aware of the threat and the critical situation the country is currently in and resolutely elect a new government to clean the financial mess once and for all, that can there be hope.

Otherwise, the country would be destroyed forever when the next destructive economic tsunami sweeps the region or the world. Allah help us.

Hank Marvin: Najib is following the footsteps of former PM Dr Mahathir Mohamad, who had appointed senior civil servant Ali Abul Hasan way back in 1999 to take care of the central bank.

Sontotsia: If it’s true that this man is to be the next governor, we’re going further and further astray as a nation. We need to right things now.

Ericlcc: Irwan cannot even manage the country’s fiscal policy, running the country to the ground with humongous debt, and now he is given mandate to manage monetary policies?

He has limited scope and capacity and without any sound monetary grounding, he is there only for one and only one purpose – to shield Najib.

Now with Irwan in Bank Negara, Najib’s protective circle is complete.

ST: Najib eyeing ‘close ally’ Awang Adek, Wahid to replace Zeti

Anonymous_1401773638: I think that anybody becoming our Bank Negara governor should follow standards that the central bank sets for the commercial banks in their appointment of their heads and directors.

Integrity of the candidates should be beyond question; those who do not meet a high standard should be discarded. Anyone who does not meet such standards if appointed only indicates that this country is doomed.

Mosquitobrain: It’s a lucrative job, just only for the ‘cari makan’ guy with an embattled chieftain.

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