KUALA LUMPUR, June 6 — Bank Negara Malaysia (BNM) today confirmed the Cabinet has accepted Tan Sri Muhammad Ibrahim’s offer to step down as governor.

In a statement, the central bank said the name of the new governor would be announced after obtaining the consent of the Yang di-Pertuan Agong.

BNM said it would ensure a smooth transition in the handing over of duties to the new governor.

Muhammad thanked the government for the honour and privilege to serve the nation and the Malaysian people, the bank added. — Bernama