KUALA LUMPUR: Perbadanan Insurans Deposit Malaysia (PIDM) has appointed Afiza Abdullah as its chief executive officer (CEO) for a three-year term, effective Aug 28, 2026, succeeding Rafiz Azuan Abdullah, who has led the organisation for nine years.
According to PIDM, the appointment is made under the PIDM Act, which provides for the CEO to be appointed by the Minister of Finance upon the recommendation of its board of directors.
PIDM said Afiza, who joined the organisation in 2011, brings more than two decades of experience in banking and insurance, covering financial regulation, policy development, crisis management and resolution.
"She helped shape PIDM’s resolution journey, including operationalising the Recovery and Resolution Planning framework with Bank Negara Malaysia (BNM) and strengthening coordination among Malaysia’s financial safety net players through crisis simulations,” it said in a statement.
PIDM said that since joining the organisation, Afiza has led a range of strategic initiatives, including key developments under the Takaful and Insurance Benefits Protection System.
"These included enhancements to the Differential Levy System, which incentivises sound risk management among insurer members, and the Takaful and Insurance Benefits Protection System (TIPS) information regulations,” it said.
The organisation said Afiza’s progression from General Manager, Policy and International in 2016 to Executive Vice President, Resolution in 2022 formed part of PIDM’s carefully planned, board-led succession process.
It said that before joining PIDM, Afiza spent almost a decade at BNM, contributing to prudential policy, the modernisation of the Central Bank of Malaysia Act 2009 and the Financial Sector Blueprint.
PIDM further said that internationally, Afiza has advanced deposit insurance, insurance guarantee schemes and resolution practices through the International Association of Deposit Insurers (IADI) and the International Forum of Insurance Guarantee Schemes (IFIGS).
"Through her leadership roles in these organisations, PIDM has garnered recognition among its international peers for its work in strengthening safety nets, crisis preparedness and resolution readiness,” it said.
PIDM chairman Datuk Abu Huraira Abu Yazid said the board is confident that Afiza’s strong leadership and expertise will ensure a seamless transition and continuity in PIDM’s work to advance resolution readiness and crisis preparedness.
"Her progression from within the organisation reflects the strength of our leadership pipeline,” he said.
He said that in an increasingly uncertain environment, PIDM must remain a source of confidence by providing certainty to financial consumers that they will continue to be protected through a reliable and effective financial safety net.
"The board looks forward to supporting Afiza as she leads PIDM into its next chapter, while also expressing its deepest appreciation to Rafiz Azuan for nine years of exemplary leadership that has left the organisation strongly positioned for the future,” he added. - Bernama
