Bank Negara and Her Highness the Governor Zeti fail basic test of governance

By Ganesh SahathevanThe Central Bank Act Malaysia provides:

8. (1) There shall be a Board of Directors constituted as provided in this section, which shall be responsible for the policy and general administration of the affairs and business of the Bank.

(4) The Governor and the Deputy Governors shall be answerable to the Board for their acts and decisions.

In the case of the Bank Negara (the Central Bank) , the Governor is also the chairmain of the Board of Directors. http://www.bnm.gov.my/index.php?ch=7&pg=3&ac=7. QED

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