In Memoriam: Latifah Merican Cheong.

• Author: Rasiah, Rajah
• Position: Obituary

Born in Air Itam, Penang, Malaysia, the late Latifah Merican Cheong who passed away on 22 June 2018 was a beacon of monetary policy in Malaysia. Her early schooling was at Convent Pulau Tikus, Penang until Form 5 and Methodist Boys School where she finished her Form 6 before completing her first degree at the University of Malaya in 1973, and master's degree at Vanderbilt University in 1979. It is while studying at the University of Malaya that she met her husband, Cheong Kwok Yew who was two years her senior at the Faculty of Economics and Administration.

Exposed to economics from her undergraduate and graduate studies, and later groomed by the heavyweights of Malaysian monetary economics, six Bank Negara Malaysia (BNM) Governors, including Tun Ismail Ali and Tan Sri Zeti Akhtar Aziz, and her former superiors, Tan Sri Lin See Yan and Tan Sri Andrew Sheng, Latifah Merican Cheong rose to lead public interventions to correct market failure and establish alternative mechanisms where markets were missing. Her devotion to honesty saw her building transparent and clean institutional structures. Her conviction to society saw her working long hours, often away from the comfort of family and home. Although committed to merit and performance, her works distinctly show her recognition and support for the poor in society by calling for the distribution of needs-based subsidies. Her honesty kept her steering in the direction of evidence. Her intelligence ensured that her critics gave her the respect she deserved. Her experience and outstanding work ethic brought her countless leadership job offers. Her loyalty guaranteed her friendship among thousands of admirers.

Latifah Merican Cheong began her career at BNM, having been a recipient of a scholarship from the organization. Over the span of thirty years, her sharp intellect and leadership attributes saw her move up swiftly from a junior officer in 1973 to Assistant Governor in 1998. Among her initiatives, she was strongly involved in BNM's efforts to develop the services sector, especially tertiary education and tourism. She found the need to provide greater access to tertiary education through private sector involvement and in promoting tourism, to achieve the twin objectives of reducing service payments abroad and developing services as an engine of growth. Her tireless efforts as a civil servant earned her Datoships from Malacca and Penang. While still serving as Assistant Governor at BNM, she had a...