KUALA LUMPUR, June 13 — The Securities Commission Malaysia (SC) has appointed Datuk Mohammad Faiz Azmi as the new executive chairman for a period of three years effective from June 16, 2024 to June 15, 2027.

The Ministry of Finance (MoF) said in a statement that Mohammad Faiz Azmi will replace Datuk Seri Dr Awang Adek Hussin who will retire with effect from June 15, 2024.

“This appointment is in line with Section 4(2) of the Securities Commission Act 1993 [Act 498],” it said. According to the MoF, Mohammad Faiz Azmi has extensive expertise and experience in finance, capital markets, audit and financial management.

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“Having graduated with a Bachelor of Law from Durham University and a member of several professional bodies such as the Institute of Chartered Accountants in England and Wales (ICAEW), Mohammad Faiz Azmi has experience as executive chairman of PwC Malaysia and chairman of the Malaysian Accounting Standards Board (MASB).

“He has been a member of the SC board since August 15, 2023. Armed with his experience, he will be able to make excellent contributions to ensure that SC achieves its goal of becoming a high-performing organisation,” said the MoF.

Finance Minister II Datuk Seri Amir Hamzah Azizan said the MoF is grateful to Awang Adek for his service at the SC and believed his expertise and experience would continue to benefit the country’s financial market.

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Under the leadership of Awang Adek, the SC has revamped two major capital market laws that are currently awaiting government approval, and introduced the Social Exchange, a fundraising platform dedicated to projects with positive social outcomes through mobilisation of private funds and philanthropists in meeting the needs of the less fortunate. — Bernama