Khairul Kamarudin resigns as BIMB CEO

The board appointed its chief financial officer, Mohd Muazzam Mohamed as acting CEO of Bank Islam effective Friday.

KUALA LUMPUR: BIMB Holdings Bhd  chief executive officer Khairul Kamarudin resigned from his post with immediate effect on Friday.

The banking group said on Friday he had also relinquished his position as the CEO of the unit, Bank Islam Malaysia Bhd.

“The BIMB Holdings board has decided to form a board executive committee to oversee the day-to-day operations,” it said.

In the absence of Khairul at Bank Islam's level, the board appointed its chief financial officer, Mohd Muazzam Mohamed as acting CEO effective Friday.
 
BIMB Holdings chairman Tan Sri Ambrin Buang said in a statement the boards of BIMB Holdings and Bank Islam have accepted his resignation.

“We would like to express our sincere appreciation for his contribution to both institutions and the Islamic banking sector. We wish him all the best in his future undertakings and endeavours”. 

Ambrin assured all shareholders, stakeholders, depositors, clients and customers that both BIMB Holdings and Bank Islam will not be affected by this development. It is business as usual for the group.
 
Mohd Muazzam, a veteran in the industry, joined the bank on May 11, 2015 as its CFO.

He has 22 years of experience in the field of audit, finance and consulting. 

He has played a key role in the bank’s strategic direction, capital and balance sheet management, corporate finance, credit, market positioning, financial planning & control and general administration. 

He is a member of various executive committees in Bank Islam and chairs several project steering committees. He is also a director of several companies within BIMB Holdings group and Bank Islam group.
 
Mohd Muazzam is a Chartered Accountant [Malaysian Institute of Accountants], Certified Public Accountant [Malaysian Institute of Certified Public Accountants], Certified Information System Auditor [ISACA] and Chartered Public Finance Accountant [Chartered Institute of Public Finance and Accountancy]. 

He was a partner of KPMG and executive director of KPMG’s Management Consulting practice from 1997 to 2015.