THE Finance Ministry has appointed Datuk Mohammad Faiz Azmi Mohammad Azmi as the new Securities Commission Malaysia (SC) executive chairman for three-year period effective from June 16, 2024 to June 15, 2027 to replace Datuk Seri Dr Awang Adek Hussin who will be retiring from the post on Saturday (June 15).
The appointment of Faiz who has extensive expertise and experience in the field of capital market finance, audit and financial management is in accordance with Section 4(2) of the Securities Commission Act 1993 [Act 498].
Faiz who holds a Bachelor of Arts (Law) degree from Durham University is also a member of several professional bodies such as the Institute of Chartered Accountants in England and Wales (ICAEW),
The SC Board member since Aug 15 last year also has experience as the executive chairman of PwC Malaysia and chairman of the Malaysian Accounting Standards Board (MASB).
Armed with his experience, MOF expressed confidence that Faiz can make an excellent contribution to ensure that SC achieves its goal of becoming a high-performing organization.
“MOF is grateful to DS Awang Adek for his service in the SC and believe that his expertise and experience will continue to be utilised by the country’s financial market,” Finance Minister II Senator Datuk Seri Amir Hamzah Azizan pointed out in a media statement.
Under the leadership of Awang Adek, the SC has overhauled two major capital market laws that are currently awaiting government approval.
Additionally, the financial market regulator has introduced Bursa Sosial (Social Exchange) which is a fundraising platform dedicated to projects with positive social outcomes through the mobilisation of private and philanthropic funds to meet the needs of the less fortunate.
Other achievements of Awang Adek include the Capital Market Graduate Programme (investED) to ensure a sustainable pool of industry skilled manpower, the launch of Maqasid al-Shariah principles for Islamic capital markets as well as the launch of a roadmap for SMEs and mid-level companies. – June 13, 2024
