This does not sound like a rational decision on the part of BNM. Thought that such discretionary, bias and impulsive style of decision was only done by Zeti. Then it must be the work of someone thought to already have their monopause but still having their monthly menstruation.
Bank Negara Malaysia (BNM) power as regulator under Banking and Financial Institute Act 1989 and Financial Sevices Act 2013 is so wide ranging, all encompassing and discretionary that it is a surprise opposition or human rights group never questioned it.
It is heard that BNM allegedly abused this power to stop a sizeable loan arranged for a Foreign Company L to undertake a project of significance in Malaysia which was already approved by a certain Commercial Bank H.
Bank H is not headed by any fly-by-night banker, but just like former BNM Governor, Tan Sri Dr. Zeti Akhtar Aziz, banker Y heading the bank received international accolade.
In fact, it was Zeti who approved his extension.