Nazir Razak ends tenure as Bank Pembangunan Malaysia chairman

Nazir Razak ends tenure as Bank Pembangunan Malaysia chairman

He is to take on new role to lead Asean Business Advisory Council Malaysia

KUALA LUMPUR – Bank Pembangunan Malaysia Bhd (BPMB) has announced that Tan Sri Nazir Razak will retire from his role as non-executive chairman of BPMB on April 22 after serving in the role for two years.

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

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

Nazir said: “We also launched Agenda 2025 (a three-year transformation plan) and embedded an objective method for evaluating loans and investments with our Measuring Impact on National Development framework.”

He joined BPMB in 2021 with a view to overseeing the planned consolidation of development finance institutions (DFIs) and in Phase 1, the merger between Danajamin Bhd and BPMB was completed this year.

While in Phase 2, the merger with Small Medium Enterprise Development Bank Malaysia Bhd and Export-Import Bank of Malaysia Bhd remains part of the DFI consolidation roadmap, as announced in Budget 2020.

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

Meanwhile, BPMB said it wishes to express its appreciation to Nazir for his invaluable contributions to the bank.

– Bernama, April 20, 2023

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