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Free Malaysia Today - Nazir Razak to step down as Bank Pembangunan chairman>


PETALING JAYA, 20 April 2023


Bank Pembangunan Malaysia Bhd (BPMB) has announced today that Nazir Razak will retire from his position as non-executive chairman upon the expiry of his two-year tenure on April 22.


“I would like to thank the government for the opportunity to serve BPMB over the last two eventful years,” said Nazir.


“In this time, we successfully completed the merger with Danajamin, significantly strengthened our management bench, improved operations and overall governance, resulting in a stronger and more integrated BPMB group today,” he added.


The financial industry veteran further highlighted the development bank’s success in launching Agenda 2025 – its three-year transformation programme – and embedding an objective method for evaluating loans and investments through its Measuring Impact on National Development framework.


Formerly the CEO and then-chairman of the CIMB Group, Nazir joined BPMB in 2021 to oversee the planned consolidation of development finance institutions in the country.


The consolidation plan resulted in the merger between Danajamin Bhd and BPMB in 2023. The supposed merger between SME Bank and Exim Bank, as announced in the 2020 federal budget, remains in the pipeline.


“I wish the board, management and staff all the very best for the future. BPMB is on sound financial footing and has the potential to have much greater impact on national development.


“I will now be able to dedicate more of my time to my Asean private equity investments and new role as chairman of the Asean Business Advisory Council Malaysia,” Nazir concluded.

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