KUALA LUMPUR (Sept 26): Labuan Financial Services Authority (Labuan FSA) has promoted its Deputy Director-General Danial Mah Abdullah to Director-General for a three year term effective Oct 3.

In a statement today, the group said Danial will be assuming the position from Datuk Ahmad Hizzad Baharuddin, who has completed his six year secondment to Labuan FSA as Director-General and will be returning to Bank Negara Malaysia as Assistant Governor.

Danial, who joined Labuan FSA in 1997, was deputy director general since 2007. He is also the Secretary to the Authority of Labuan FSA, as well as the Chairman of the Credit Risk, Investment and Risk Management Committee, Asset Management Committee and Talent Management Committee of Labuan FSA. 

He also served as the interim Chief Executive Officer of the Labuan IBFC Incorporated Sdn Bhd since 2015. Danial is a Chartered Accountant registered with the Malaysia Institute of Accountants and also an Associate Member of the Institute of Bankers Malaysia. He holds a Bachelor of Accounting from the University of Malaya and a Masters in Business Administration (with Distinction) from Manchester Business School, United Kingdom.

Ahmad, as Assistant Governor, will be responsible for the Investment Operations and Financial Markets, Foreign Exchange Administration, Legal and Currency Management and Operations departments.

He had previously been director of several departments in Bank Negara, prior to his secondment.

Ahmad Hizzad holds a Bachelor of Science in Business from Eastern Illinois University, USA, as well as a Master’s degree in Business Administration from Saint Louis University, USA.