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Thursday, 22 April 2021, Kuala Lumpur – Dato’ Sri Nazir Razak has been appointed as Bank Pembangunan Malaysia Berhad’s (“BPMB”) Non-Executive Chairman effective from 22 April 2021. Nazir succeeds Datuk 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.

Dato’ Sri 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 4 years and Group CEO for 15 years prior to that. Nazir also served as the Non-Executive Director of Khazanah Nasional for 4 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.


About Bank Pembangunan

Owned by Minister of Finance (Incorporated), BPMB has been accorded the highest rating of ‘AAA’ by both RAM Rating Services Berhad and Malaysia Rating Corporation Berhad. It is regulated and supervised by Bank Negara Malaysia under the Development Financial Institution Act 2002. With a Group Total Assets value of RM25 billion (as at 31 December 2019), the BPMB Group is well-positioned to meet the financing and business development needs of Malaysian businesses.

For more information, please contact:
Anita Ramly
Head, Corporate Communications
Bank Pembangunan Malaysia Berhad
Tel: (03) 2611 3346

Izzat Ratna
Senior Executive, Corporate Communications
Bank Pembangunan Malaysia Berhad
HP: (012) 642 1889

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