Mohamad Rafi Shahzada appointed Mara Corp chairman

PETALING JAYA: Majlis Amanah Rakyat (Mara) announced the appointment of Mohamad Rafi Shahzada as the new chairman of its subsidiary, Mara Corporation Sdn Bhd effective March 27.

Mohamad Rafi takes over from Tan Sri Hamad Kama Piah.

Mara chairman Datuk Wira Dr Asyraf Wajdi Dusuki said the appointment was to ensure that the company's potential and performance can be developed and further improved.

"I have faith in his capacity based on the extensive corporate experience to ensure ownership, participation and dominance of the Bumiputera agenda empowerment,” he said in a statement on Monday (April 1).

Asyraf also expressed his appreciation to Hamad Kama Piah, for his service from July 2023 until March 2024 which undoubtedly contributed a lot to the Mara subsidiary.

Mohamad Rafi has been given the full trust to work hand in hand with Mara’s top management members in ensuring the Bumiputera empowerment agenda.

He will be guiding the direction and ensuring the 12 subsidiaries of Mara Corporation which includes education, transportation, services, investment, real estate, aerospace, and training development segments, achieve the highest performances.

Mohamad Rafi, 57, has a professional accounting qualification from the London School of Accounting & Emile Wolfe, United Kingdom.

He also graduated with a bachelor's and a master's degree in Accounting and Finance from the University of Wales, 1991.

He started his career in 1986 at the Bank of America in Kuala Lumpur. He then began to develop his skills and expertise in various areas such as banking, accounting, company management, petrochemical oil and gas, insurance, audit, and corporate affairs.

He also served as manager of Linco Limited Trading in London before being appointed as the vice president of Bank Of Credit And Commerce International (BCCI), United Kingdom.

Mohamad Rafi's career continued to take a step further after being appointed as chief financial officer at Nittoku (M) Sdn Bhd.

Between 1999 and 2004, he also held the position of chief executive officer at Absolute Heritage (M) Group of Companies.

In 2010, he migrated to Shanghai China to work under Saudi Aramco's subsidiary, Sabic-Saudi Arabia Basic Industries Corporation. He returned to his homeland four years later through the Returning Expert Program managed by Talent Corp.

Between 2016 and 2020, he started working in Malaysia Development Bank Limited, for the Audit and Risk Management Committee.

At the same time, Mohamad Rafi was appointed as the board of directors for Global Marine Venture Limited and Pembangunan Leasing Berhad.

He also became a prominent figure among the board of directors for Bank Rakyat from 2021 until 2022.