Tun Ismail Ali Center of Excellence

To lead, collaborate, and advance research excellence in monetary policy and economics, enhancing knowledge and innovation in emerging markets for Malaysia and beyond.

About Us

The Tun Ismail Ali Center of Excellence in Monetary & Financial Economics (TIACOE) is a Bank Negara Malaysia-endowed research center under the stewardship of the Asia School of Business. TIACOE serves as a research platform for its fellows and affiliates, providing a venue for central bankers, scholars, and graduate students to conduct research aligned with its mission. The center fosters knowledge exchange among academics and practitioners through conferences, seminars, workshops, and public lectures.

History

Tun Ismail Ali (September 16, 1918 – July 6, 1998) was the first Malaysian Governor of Bank Negara Malaysia (1962 – 1980). Born in Port Swettenham (now Port Klang), he was the nephew of Tun Abdul Razak, Malaysia’s second Prime Minister. He studied at English College, Johor Bahru, and later earned a scholarship to study at the prestigious Cambridge University, where he graduated with a degree in economics. As the first local governor of Bank Negara, he played a pivotal role in stabilizing the Malaysian economy, fostering financial discipline, and implementing policies to curb inflation and support industrialization. Following his retirement, Tun Ismail served in various advisory capacities and boards, contributing his expertise to Malaysia’s development. He became the first chairman of Permodalan Nasional Berhad (PNB), which was established to promote equity ownership among Malaysians, particularly the Bumiputera community. Renowned for his integrity and professionalism, Tun Ismail Ali’s legacy as a key figure in shaping Malaysia’s financial landscape is honored through various institutions and awards that bear his name.

Tun Ismail Ali

Governor of Bank Negara Malaysia
(1918 – 1998)

Our Mission

To advance research in the field of monetary and financial economics as well as elevating the capacity of local higher education institutions and widening outreach via engagements with local academics, students and the public.

To serve as a hub for research on central banking issues, with a focus on emerging markets and to carry out the related activities.

To host central bankers, scholars, graduate students and other persons as invited by the Founder or the Trustee who are interested to conduct research in any relevant field which is aligned to the objectives of TIACOE.

To serve as a hub for knowledge creation and knowledge exchange among academics by hosting conferences, seminars, workshops, and public lectures.

To provide training and advisory services to central banks and other relevant organisations to meet the objectives of TIACOE.

Events

Dr. Ho Sui-Jade is the Faculty Director of TIACOE, with extensive experience in monetary policy analysis and inflation forecasting. Before joining ASB, she served as Deputy Director in the Monetary Policy Department at Bank Negara Malaysia and co-led a subgroup for the Monetary Policy Workstream in the Network for Greening the Financial System (NGFS). A graduate of the University of Cambridge, Harvard University, and the University of Michigan, she has published in peer-reviewed journals such as The Review of Economics and Statistics. Her research focuses on monetary policy communication, inflation expectations, and macroeconomic dynamics, complemented by her role as an Associate Certified Coach with the International Coaching Federation.

Ho Sui-Jade

Faculty Director of Tun Ismail Ali Center of Excellence

Dr. Sang Seok Lee is a macroeconomist interested in monetary policy and central banking, international macroeconomics, and macroeconomic history. He is a research affiliate of the Centre for Economic Policy Research and a member of the Research Experts Panel at the Bangko Sentral ng Pilipinas Research Academy. Sang’s research has been published in academic journals such as the American Economic Review, the Journal of Finance, the Journal of International Economics, and the Journal of Monetary Economics. He obtained a DPhil in economics from the University of Oxford in 2014.