The Finance minister has appointed Awang Adek Hussin as the new executive chairperson of the Securities Commission of Malaysia (SC) effective from June 1, 2022, to May 31, 2025.
He is replacing 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 chairperson from Nov 1, 2018, to May 30, 2022. An orderly transition and continuity in the administration of the SC are ensured,” the Finance Ministry 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-chairperson of Tenaga Nasional Bhd and the first director-general of the Labuan Offshore Financial Services Authority.
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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