[2] Muhammad graduated from the Harvard Kennedy School from its Masters in Public Administration programme in 1993.
[4][5] Muhammad joined Bank Negara Malaysia in 1984, and appointed as Deputy Governor in June 2010.
Throughout his service to the Central Bank of Malaysia, he held several posts in several government bodies and companies.
[7] During the Asian Financial Crisis, he was the managing director of Danamodal Nasional Berhad, a bank recapitalization agency.
Muhammad was bestowed the Malaysian Federal Award Panglima Setia Mahkota by the Yang di-Pertuan Agong in 2017.