The ex-Basel midfielder has been linked with a move to Liverpool in the wake of Bayern's signing of Thiago.
However, according to Goal.com, Rummenigge has said that Shaqiri will stay at the club.
"Nobody called about Shaqiri. Right now there are no plans [to sell him]," he said.
"The coach is completely satisfied with him, I think we will go into the season with the current squad."
Shaqiri started only 13 matches in the Bundesliga last season.