The Labuan Financial Services Authority announced the appointment of Mr. Affendi Rashdi as Director General, appointed by the Minister of Finance II for a two-year term running from 1 May 2025 to 30 April 2027. He succeeds Mr. Nik Mohamed Din Nik Musa, whose four-year tenure ended on 30 April 2025. Affendi joins from Bank Negara Malaysia (BNM), where he most recently served as Chief Services Officer leading the Centralised Shared Services sector; earlier roles included Director of the Finance Department and leadership positions in the Development Finance and Inclusion Department, as well as membership of the Financial Sector Blueprint team. His work at BNM included contributions to the review of the Development Financial Institutions Act 2012, the corporatisation of Agrobank, the establishment of SME Bank and the formation of the Cooperatives Commission of Malaysia, alongside shared services strategy across procurement, facilities management, administration and security.
Labuan Financial Services Authority 2025-05-01
Labuan Financial Services Authority appoints Affendi Rashdi as Director General for 2025–2027 term
The Labuan Financial Services Authority appointed Mr. Affendi Rashdi as Director General for a two-year term starting 1 May 2025, succeeding Mr. Nik Mohamed Din Nik Musa. Affendi previously served as Chief Services Officer at Bank Negara Malaysia, contributing to significant initiatives such as the review of the Development Financial Institutions Act 2012 and the establishment of SME Bank.