Wednesday, October 19, 2016

Dr Zeti Akhtar Aziz: appointed to Asian Infrastructure Investment Bank panel

KUALA LUMPUR: Former Bank Negara Malaysia (BNM) governor Tan Sri Dr Zeti Akhtar Aziz has been appointed as a member of the Asian Infrastructure Investment Bank’s (AIIB) international advisory panel.

Zeti, ranked the world’s best central bank chief in 2009 by Global Finance magazine, retired in April after 16 years of being at the helm of BNM.

In a statement, AIIB announced that Zeti would join 10 other key personnel on the advisory panel including former Prime Minister of Pakistan Shaukat Aziz, former Finance Minister of Sweden Anders Borg, former Prime Minister of Japan Yukio Hatoyama as well as the Global Foundation secretary-general Steve Howard. 

Others include Korea National Diplomatic Academy chair professor and former Deputy Prime Minister and Minister of Strategy and Finance of South Korea Dr Oh-Seok Hyun, and former Finance Minister of Nigeria and former World Bank managing director Dr Ngozi Okonjo-Iweala.

Former Finance Minister of Timor-Leste Emilia Pires, former US ambassador and Global Strategic Associates chairman and chief executive officer Paul Speltz, London School of Economics professor and former World Bank chief economist aLord Nicholas Stern and former Hong Kong SAR chief executive Tung Chee-Hwa make the remaining members of the panel.

AIIB said the first meeting of the advisory panel was held in Beijing on Wedbesday.

“The panel provides impartial, objective and independent advice to the president, allowing the bank to benefit from the international experience and expertise of panel members,” it said. 

At the meeting, panel members discussed the global economic situation and its implications on the banks operations, the need to promote green infrastructure in the new global agenda and the importance of increasing private sector involvement in the region’s infrastructure.

At the end of the meeting, AIIB president Jin Liqun said: “It is a great honour to convene such an experienced and diverse group of international leaders to advise on the development of the bank’s strategy. 

“I have no doubt that the advice, the panel provides, will help shape the development of the bank in the years ahead.

“And I could not ask for a better group of ambassadors to help promote our new bank to the world.”

AIIB, a multilateral international development bank, was set up on Dec 25, 2015, with an initial capital of US$100bil, one million shares and an initial paid-up capital of US$20bil. 

*Taken from The Star

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