KUALA LUMPUR, Feb 17 — Outgoing Bank Negara Malaysia (BNM) Governor Tan Sri Zeti Akhtar Aziz said today the central bank has always been independent and gave an assurance it will remain so after her departure amid investors jitters over its succession plan scheduled to be announced soon.

Zeti also said that no politician should be appointed to succeed her but maintained that none has sat on the board of any financial institutions as well as the central bank.

“Every country needs an organisation like the central bank that is not grown to any political developments or political agendas and will remain focused on ensuring economic stability... so that financial policies would be of the best interest of the country,” she told reporters after attending a banking event here.

“Even for financial institutions, we do not have politicians on the board, so least of all should be the central bank,” she added.

Zeti’s retirement this April has caused jitters within the financial market as investors raise concerns over possible political interference in the central bank’s succession plan, which could put its independence at stake.

There were also questions about policy continuity and the competence of Zeti’s replacement.

The BNM chief had said recently that the bank had identified a capable successor but appointment power ultimately lies with the federal Cabinet.

Zeti was tightlipped when asked about her successor today but insisted that BNM would remain in good hands.

“We have the process in place certainly the next governor must have the relevant background and ability especially at a time like this so the transition can be managed well.

“And I do believe that the central bank has become a very solid organisation. It has institutional strength and resilience,” she said.

Zeti also dismissed speculation that she would stay on. There had been talks about strong requests for her to stay but the BNM chief said it was “highly unlikely”.

The daughter of celebrated economist Regius Professor Ungku Aziz Ungku Abdul Hamid, Zeti was handed the reins of the central bank at the peak of the Asian financial crisis in 1998.

She was appointed governor in May 2000, becoming the first woman to head Malaysia’s central bank.