Mohammad Faiz Azmi appointed as SC new executive chairman

THE Ministry of Finance (MOF) has appointed Datuk Mohammad Faiz Azmi Mohammad Azmi (pictured) as the new executive chairman of the Securities Commission Malaysia (SC), effective from June 16, 2024, to June 15, 2027.

The appointment follows the retirement of Datuk Seri Dr. Awang Adek Hussin, who will serve in the role until June 15, 2024, according to MOF.

Mohammad Faiz brings a wealth of expertise in finance, capital markets, auditing, and financial management to his new role.

He holds a Bachelor of Arts (Hons) in Law from Durham University and is registered as a Barrister, Bar of England & Wales by the Honourable Society of Lincoln’s Inn.

Additionally, he has been awarded an Honorary Doctorate in Laws by the University of Nottingham.

His extensive career includes leadership positions such as executive chairman of PwC Malaysia, president of the Malaysian Institute of Accountants (MIA), chairman of the Malaysian Accounting Standards Board (MASB), and chairman of the Kuala Lumpur Business Club (KLBC).

He has also been a member of the SC board since August 15, 2023.

MOF expressed confidence in Mohammad Faiz’s ability to contribute significantly to SC’s objectives of enhancing the country’s financial market performance.

The ministry anticipates that under his leadership, SC will continue its strategic initiatives aimed at improving the regulatory landscape and fostering a dynamic capital market environment.

“MOF extends its appreciation to Datouk Seri Dr Awang Adek for his dedicated service at SC, and believes that his expertise and experience will continue to benefit the nation’s financial market,” said Minister of Finance II, Senator Datuk Seri Amir Hamzah Azizan.

Under Awang Adek’s stewardship, SC has spearheaded significant reforms to key capital market laws currently awaiting government approval.

He also introduced the Social Exchange, a platform facilitating fundraising for projects with positive social impacts through private funding and philanthropy, aimed at supporting vulnerable communities.

His other notable achievements include launching the investED Graduate Program to nurture a skilled talent pool for the industry, establishing Maqasid al-Shariah principles for Islamic capital markets, and initiating strategic plans benefiting SMEs and mid-sized companies.