KUALA LUMPUR (Sept 11): Bank Pembangunan Malaysia Bhd (BPMB) has appointed Shaharuddin Zainuddin as its president and group chief executive officer, effective today.

"I would like to congratulate Shaharuddin on his appointment. He had earlier joined the board as an independent director on Feb 13, 2017 and had served as chairman of the Group Audit and Examination Committee as well as a member of the Executive Committee, Group Risk Management Committee and the Credit Committee of the Board," said the group's chairman Tan Sri Dr Wan Abdul Aziz Wan Abdullah in a statement today.

The financial institution said Shaharuddin previously held various senior positions in banking and finance overseas, i.e. as director of banking operations at Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI), which is the International Islamic banking regulator based in Bahrain, and as the regional head of compliance and financial security of Credit Agricole Corporate and Investment Bank (Caylon), the group said.

"We look forward to working with Shaharuddin in his new capacity and we are very confident in Shaharuddin's leadership, passion and commitment to steer BPMB Group to greater heights and further enhance its role as a major Development Financial Institution for the country and the region," added Abdul Aziz.

BPMB is owned by the Minister of Finance Inc and provides medium- and long-term financing to sectors of the economy, like infrastructure, maritime, technology, and oil and gas.