Khairul resigns as BIMB, Bank Islam CEO

His resignation is due to personal reasons, says the Islamic banking group


BIMB Holdings Bhd CEO Khairul Kamarudin (picture) resigned last Friday, relinquishing his position as CEO at Bank Islam Malaysia Bhd, a wholly owned subsidiary of BIMB.

Khairul, according to the Islamic banking group’s filing, resigned due to personal reasons.

BIMB chairman Tan Sri Ambrin Buang said the boards of both BIMB and Bank Islam have accepted his resignation.

A veteran with more than 21 years’ experience in the Malaysian corporate scene, Khairul — a lawyer by training — made history as the shortest serving CEO of a bank in Malaysia.

He was appointed as BIMB CEO less than a year ago in August.

Prior to that, the 45-year-old banker was appointed as Bank Islam CEO.

As a result of his resignation, the board of BIMB formed a board executive committee to oversee the day-to-day operations of the firm.

Mohd Muazzam Mohamed was also appointed as acting CEO, effective last Friday. Mohd Muazzam, who has 22 years’ experience in the banking field, joined the bank on May 11, 2015, as CFO.

A member of various executive committees in Bank Islam, as well as the chair of several project steering committees, Mohd Muazzam is also a director on the board of several companies within BIMB and Bank Islam group.

BIMB recorded a 13.9% increase in net profit to RM172.14 million for the first quarter ended March 31, 2018, from RM151.1 million in the previous cor responding period.

The group’s revenue also recorded an 8.7% year-onyear growth to RM999.36 million from RM919.64 million previously.

Its profit before zakat and taxation for the quarter under review grew 11.1% to RM273.6 million compared to RM246.2 million recorded a year ago.