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Agrobank, a government-owned agricultural development bank announced the appointment of Tuan Syed Alwi Mohamed Sultan as their new president and chief executive officer.
The appointment, which is effective on April 2, has received approval from Bank Negara Malaysia (BNM) and the Ministry of Finance (MOF).
According to a statement by Agrobank, Syed Alwi has vast experience in Islamic banking and finance business with more than 20 years of experience in the industry.
The statement also noted that he brings with him a wealth of both international and local experience within the Islamic Banking Industry.
“I am humbled and honoured to have been given the trust and ‘amanah’ to lead Agrobank at such an important phase in its development.
“Agrobank has shown strong performance for the past few years under the first phase of transformation and has strategy that has seen the Bank grow solidly in recent years.
“That speaks volumes of the previous leadership and the existing team in place at Agrobank, I am looking forward to building on this success whilst simultaneously ensuring we remain focused on creating positive impact to our stakeholders including our shareholders, our staff, society and the environment,” said Syed Alwi.
Agrobank said Syed Alwi previously held several senior management positions with various banks namely Bank Muamalat Malaysia Berhad, BNP Paribas, Standard Chartered Saadiq Berhad, The Islamic Bank of Asia Limited and HL Bank Singapore.
Syed Alwi has a Bachelor of Accounting and a first-class MBA in Islamic Finance from the International Islamic University of Malaysia.
"In 2015, Agrobank became a full-fledged Islamic Bank that provides shariah-compliant banking products and funding to cater for the halal food industry and agriculture related activities.
“Syed Alwi is a substantial strategist with vast experiences in Islamic banking industry.
“The Board is confident that he is the right chief to lead the next exciting phase, as Agrobank is shifting its' gears of strength to continue to transform the Bank for the future”, said Agrobank chairman, Tan Sri Mohamad Zabidi Zainal.