MEDAC appoints Syed Abdul Aziz as Bank Rakyat CEO

KUALA LUMPUR, June 18 — The Ministry of Entrepreneur Development and Cooperatives (MEDAC) has appointed Datuk Syed Abdul Aziz Syed Hassan as the chief executive officer (CEO) of Bank Rakyat, effective immediately.

In a statement today, minister Datuk Seri Dr Wan Junaidi Tuanku Jaafar said the appointment was made following Syed Abdul Aziz’s excellent performance during his tenure as the acting CEO of Bank Rakyat since Nov 14 last year.

During that period, the bank recorded an impressive financial performance, with a profit before tax and zakat of RM1.44 billion and a dividend payment of 13 per cent for the financial year ended Dec 31, 2020, despite ongoing challenges due to the Covid-19 pandemic.

“The appointment also befits his extensive experience in corporate management, which enabled the bank to implement the Bank Rakyat 2025 (BR25) strategic plan without compromising its operations,” said Wan Junaidi.

He added that Syed Abdul Aziz’s credibility could also be seen when he was the CEO of Bank Rakyat’s subsidiary, Rakyat Holdings Sdn Bhd, where the company completed the development of the Bank Rakyat Twin Tower at a manageable cost. — Bernama

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