Nazir Razak Appointed As BPMB’s Non-Executive Chairman

Nazir Razak has been appointed as Bank Pembangunan Malaysia Berhad’s (“BPMB”) Non-Executive Chairman effective today. Nazir succeeds Zaiton Mohd Hassan, who retired in February 2021 after having served for two years.

“BPMB is a key development finance institution tasked to support companies and projects that promote socio-economic growth,” said Nazir. “I am grateful for this opportunity to serve a government institution and bring to bear the years of experience I have in the financial sector.

BPMB was incorporated on 28 November 1973 and mandated to support the Malaysian economy’s development by assisting entrepreneurs in small and medium-sized industries. Today, BPMB provides medium to long-term financing to sectors of strategic importance to the nation and places particular importance on impact financing, which channels capital to address social issues and development priorities.

Nazir is the Founding Partner and Chairman of Ikhlas Capital, an ASEAN private equity firm. He has extensive banking experience, having served as CIMB Group Holdings Berhad’s Chairman for four years and Group CEO for 15 years prior to that. Nazir also served as the Non-Executive Director of Khazanah Nasional for four years and was a member of the Employee Provident
Fund Investment Panel for 15 years.

“I am delighted to welcome Dato’ Sri Nazir to BPMB. The breadth and depth of his banking and finance experience will be a significant asset to BPMB as we continue on our nation-building journey. I look forward to working with him”, said BPMB’s President/Group Chief Executive Officer, Arshad Mohamed Ismail.

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