Agrobank has appointed Syed Alwi Mohamed Sultan as its new president and CEO, effective yesterday.

The appointment has received approval from Bank Negara Malaysia and the Ministry of Finance.

Agrobank in a statement yesterday said Syed Alwi has more than 20 years of vast experience in Islamic banking and finance business, hence bringing with him a wealth of international and local experience in the Islamic banking industry.

Previously, he had held several senior management positions with various banks such as Bank Muamalat Malaysia Bhd, BNP Paribas, Standard Chartered Saadiq Bhd, The Islamic Bank of Asia Ltd and HL Bank Singapore.

Agrobank chairman Tan Sri Mohamad Zabidi Zainal said in 2015, Agrobank became a full-fledged Islamic bank which provides Shariah-compliant banking products and funding to cater for the halal food industry and agriculture-related activities.

“Syed Alwi is a substantial strategist with vast experience in the Islamic banking industry. The board is confident that he is the right chief to lead the next exciting phase, as Agrobank is shifting its gears of strength to continue trans- forming the bank for the future,” he said.

On his appointment, Syed Alwi said: “I am humbled and honoured to have been given the trust to lead Agrobank at such an important phase in its development.

“Agrobank has shown a strong performance for the past few years under the first phase of transformation, and has the strategy that has seen the bank growing solidly in recent years.

“That speaks volumes of the previous leadership and the existing team in place at Agrobank. I look forward to building on this success, while simultaneously ensuring we remain focused on creating a positive impact on our stakeholders, including our shareholders, our staff, society and the environment.”

Syed Alwi has a bachelor’s degree in Accounting and a first-class master of business administration in Islamic finance from the International Islamic University of Malaysia. — Bernama