LABUAN: Labuan Financial Services Authority (Labuan FSA) has announced the appointment of Bank Negara Malaysia (BNM) chief services officer Affendi Rashdi as its Director General for a two-year term from May 1, 2025 to April 30, 2027.
The appointment was made by the Ministry of Finance (MOF), Labuan FSA said in a statement on Thursday.
Affendi brings over two decades of experience in financial sector development, policy, and institutional services. At BNM, he held senior roles including director of the finance department and was part of the Financial Sector Blueprint team.
He also contributed to the corporatisation of Bank Pertanian Malaysia Bhd (Agrobank), establishment of Small Medium Enterprise Development Bank Malaysia Bhd, and review of the Development Financial Institutions Act 2012.
Labuan FSA said Affendi holds degrees from Harvard University and Universiti Teknologi MARA, and is a member of several professional accounting bodies.
The board thanked outgoing director general Nik Mohamed Din Nik Musa, whose term ended on April 30, 2025, for his contributions to the Labuan IBFC’s growth.
"With the appointment of Affendi Rashdi as the new Director-General, Labuan FSA is confident the centre will continue to innovate and grow, building on its success and further strengthening its position as a preferred financial centre in Asia," it said. - Bernama
