Labuan FSA announces appointment of Affendi Rashdi as DG
The appointment was made by the Ministry of Finance (MOF), Labuan FSA said in a statement on Thursday.
Affendi brings over two decades of experience in financial sector development, policy, and institutional services. At BNM, he held senior roles including director of the finance department and was part of the Financial Sector Blueprint team.
He also contributed to the corporatisation of Bank Pertanian Malaysia Bhd (Agrobank), establishment of Small Medium Enterprise Development Bank Malaysia Bhd, and review of the Development Financial Institutions Act 2012.
Labuan FSA said Affendi holds degrees from Harvard University and Universiti Teknologi MARA, and is a member of several professional accounting bodies.
The board thanked outgoing director general Nik Mohamed Din Nik Musa, whose term ended on April 30, 2025, for his contributions to the Labuan IBFC's growth.
"With the appointment of Affendi Rashdi as the new Director-General, Labuan FSA is confident the centre will continue to innovate and grow, building on its success and further strengthening its position as a preferred financial centre in Asia," it said. - Bernama
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Sun
a day ago
- The Sun
Malaysia's inflation drops to 1.1% in June 2025, core inflation steady
KUALA LUMPUR: Malaysia's headline inflation declined to 1.1 per cent in June 2025, down from 1.2 per cent in May, according to Bank Negara Malaysia (BNM). Core inflation remained unchanged at 1.8 per cent. The central bank attributed the easing headline inflation to lower price pressures in non-core items, particularly fresh food, diesel, and air passenger transport. 'Higher inflation in selected core items, such as food away from home and streaming services, was largely offset by lower inflation for mobile communication services and video game consoles,' BNM said in a statement. Private sector credit growth moderated slightly to 5.2 per cent in June (May: 5.4 per cent), with steady loan expansion at 5.5 per cent. Corporate bond growth slowed to 4.3 per cent (May: 4.7 per cent). Business loans grew at 4.5 per cent, supported by sustained SME investment activity, while household loans maintained a six per cent growth rate. Amid global uncertainties, the ringgit appreciated 0.5 per cent against the US dollar, with the nominal effective exchange rate (NEER) at -0.2 per cent. BNM noted that the FBM KLCI rose 1.6 per cent, aligning with regional equity trends, while 10-year MGS yields fell by 5.0 basis points. The banking system maintained strong liquidity buffers, with a Liquidity Coverage Ratio of 160.6 per cent and a stable loan-to-fund ratio of 83.3 per cent. Gross impaired loans dipped to 1.4 per cent, with net impaired loans steady at 0.9 per cent. - Bernama
Barnama
a day ago
- Barnama
BNM: Headline Inflation Down To 1.1 Pct, Core Inflation Unchanged In June 2025
BUSINESS KUALA LUMPUR, July 31 (Bernama) -- Malaysia's headline inflation eased further to 1.1 per cent in June 2025 from 1.2 per cent in May, while core inflation remained unchanged at 1.8 per cent, said Bank Negara Malaysia (BNM). In a statement today, it said the decline in headline inflation was largely driven by lower inflation in non-core components, particularly fresh food, diesel and air passenger transport. 'Higher inflation in selected core items -- such as food away from home and streaming services -- was largely offset by lower inflation for mobile communication services and video game consoles,' it said. Meanwhile, credit to the private non-financial sector grew by 5.2 per cent in June 2025 (May 2025: 5.4 per cent), following steady growth in outstanding loans of 5.5 per cent, while growth in outstanding corporate bonds moderated to 4.3 per cent in June 2025 (May 2025: 4.7 per cent). 'Outstanding business loan growth was broadly steady at 4.5 per cent amid sustained growth in loans for investment-related purposes, particularly among the small and medium enterprises (SMEs). 'Household loan growth remained steady at six per cent in June 2025 amid sustained growth in loans across most purposes,' it added. BNM said against global uncertainties, the ringgit appreciated by 0.5 per cent against the US dollar, with the nominal effective exchange rate (NEER) at -0.2 per cent (regional average: 0.3 per cent), supported by continued broad-based US dollar weakness. Additionally, the central bank and the government will continue to coordinate efforts to encourage foreign exchange flows, it said. 'The FBM KLCI rose by 1.6 per cent (regional average: 1.5 per cent), in line with movements of regional equity markets, while the 10-year Malaysian Government Securities yield decreased by 5.0 basis points (bps) (regional average: -11.5 bps),' it said.
The Star
a day ago
- The Star
BNM: Headline inflation down to 1.1%, core inflation unchanged in June 2025
KUALA LUMPUR: Malaysia's headline inflation eased further to 1.1 per cent in June 2025 from 1.2 per cent in May, while core inflation remained unchanged at 1.8 per cent, said Bank Negara Malaysia (BNM). In a statement today, it said the decline in headline inflation was largely driven by lower inflation in non-core components, particularly fresh food, diesel and air passenger transport. "Higher inflation in selected core items -- such as food away from home and streaming services -- was largely offset by lower inflation for mobile communication services and video game consoles,' it said. Meanwhile, credit to the private non-financial sector grew by 5.2 per cent in June 2025 (May 2025: 5.4 per cent), following steady growth in outstanding loans of 5.5 per cent, while growth in outstanding corporate bonds moderated to 4.3 per cent in June 2025 (May 2025: 4.7 per cent). "Outstanding business loan growth was broadly steady at 4.5 per cent amid sustained growth in loans for investment-related purposes, particularly among the small and medium enterprises (SMEs). "Household loan growth remained steady at six per cent in June 2025 amid sustained growth in loans across most purposes,' it added. BNM said against global uncertainties, the ringgit appreciated by 0.5 per cent against the US dollar, with the nominal effective exchange rate (NEER) at -0.2 per cent (regional average: 0.3 per cent), supported by continued broad-based US dollar weakness. Additionally, the central bank and the government will continue to coordinate efforts to encourage foreign exchange flows, it said. "The FBM KLCI rose by 1.6 per cent (regional average: 1.5 per cent), in line with movements of regional equity markets, while the 10-year Malaysian Government Securities yield decreased by 5.0 basis points (bps) (regional average: -11.5 bps),' it said. According to BNM, the banking system continued to record healthy liquidity buffers with an aggregate Liquidity Coverage Ratio of 160.6 per cent in June 2025, while the aggregate loan-to-fund ratio remained broadly stable at 83.3 per cent. BNM said the gross impaired loans ratio declined slightly to 1.4 per cent during the month, but net impaired loans ratio remained stable at 0.9 per cent. It added that the loan loss coverage ratio (including regulatory reserves) remained prudent at 130.3 per cent of gross impaired loans. - Bernama
