Syed Zaid resigns, Awang Adek the new executive chairman of Securities Commission

Publish date: Thu, 28 Apr 2022, 03:39 PM
KUALA LUMPUR: The Finance Ministry has appointed Datuk Awang Adek Hussin as the new executive chairman of the Securities Commission of Malaysia (SC) effective from June 1, 2022 to May 31, 2025.
 
He is replacing Datuk Syed Zaid Syed Jaffar Albar, whose resignation takes effect on May 31, 2022.
 
"The Ministry of Finance expresses its highest appreciation and thanks to Syed Zaid for his contribution and service throughout his tenure as the SC executive chairman from Nov 1, 2018 to May 30, 2022. An orderly transition and continuity in the administration of the SC are ensured," it said in a statement today.
 
The appointment of Awang Adek is in line with section 4(2) of the Securities Commission Act 1993 (Act 498). 
 
Awang Adek has wide experience and expertise in the area of capital markets and Islamic finance and has a doctorate in economics from the University of Pennsylvania in the United States.
 
He was an assistant governor of Bank Negara Malaysia and a former board member of the SC. He was also the ex-chairman of  Tenaga Nasional Bhd and the first director-general of the Labuan Offshore Financial Services Authority  (LOFSA).
 
He had also served as the Malaysian ambassador to the United States and was the deputy finance minister from 2006 to 2013.
 
With his wide experience, the Finance Ministry said it is confident Awang Adek will make put in an excellent performance and ensure that the SC achieves its objectives as a high performance organisation.
 
 
 - Bernama
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