1994
CITATION
Mr Chancellor,
Tan Sri Jaffar obtained a Bachelor Degree in Commerce at The University of Queensland in 1958 and was subsequently elected a Fellow of the Institute of Chartered Accountants, Australia, the Institute of Bankers, Malaysia, and the Malaysian Institute of Management, as well as Companion of the British Institute of Management. Until 1981 he was Chairman and Senior Partner of Price Waterhouse for Malaysia, Singapore and Thailand, and Chief Executive of Malayan Banking Berhad over the period 1981-85. In that year he became Governor of the Central Bank Malaysia, Controller of Foreign Exchange, and Director General of Insurance, positions which gave him enormous responsibility and the capacity to exercise great influence over his country's destiny. He came to power as the Malaysian economy was moving rapidly into recession and his measures contributed significantly to reversing this trend. By his measures to solve a banking crisis, his establishment of a national mortgage corporation, his major financial reforms, the promotion of trade and assistance to the insurance industry, he has made a major impact on the economic fortunes of his country. For this work he has already been honoured with the award of Panglima Setia Mahkota and the title 'Tan Sri' by the King in 1987, the First Class Order of Seri Mahkota Joh ore by the Sultan of J ohore, and the First Class Order of Sri Ind era Sultan Pahang by the Sultan of Pahang. In addition he was named one of the top three Asian Bankers by Asian Finance in 1982 and received the highly esteemed 'Companion' award by the British Institute of Management in 1986.
Mr Chancellor, in recognition of his distinguished career and significant achievements, I present to you Tan Sri Jaffar, Bachelor of Commerce of this University, and Doctor of Philosophy honoris causa, Universiti Utara Malaysia, for the conferral of the award of Doctor of Economics honoris causa, to which he has been admitted by the Senate of the University.