KUALA LUMPUR (Oct 18): Small Medium Enterprise Development Bank Malaysia Bhd (SME Bank) has appointed Datuk Seri Nazir Ariff as its non-executive chairman effective immediately.

In a statement today, SME Bank said Nazir, 73, has a background in accountancy and is a Fellow of the British Institute of Management, with vast experience in various industries such as banking, property, mining and commodity.

Nazir is the co-founder and executive deputy chairman of Aspen (Group) Holdings Ltd. He is also an independent director at Texchem Resouces Bhd and PBA Holdings Bhd, and is a director of Thailand Smelting & Refining Co Ltd and Escoy Holding Bhd (formerly known as Datuk Keramat Holdings Bhd).

Prior to this, he was the deputy chairman and executive director of Ivory Properties Group Bhd from 2006 until 2013.

Nazir started his working career at Escoy, holding various key positions until the end of his tenure as the managing director in 2006.

He was also the chairman of the Malaysian International Chamber of Commerce and Industry (Northern Branch) from 1995 to 2018.

SME Bank group president and CEO Aria Putera Ismail deems Nazir's appointment timely, noting that his vast experience in the corporate and business sectors is expected to assist and lead the transformation of the bank towards sustainable and effective development.