KUALA LUMPUR, March 27 (Bernama) -- Bursa Malaysia Bhd today announced the appointment of Tan Sri Abdul Farid Alias as its new chairman, effective May 1, 2025.
In a statement, the exchange said Abdul Farid, who served on the board of Bursa Malaysia since July 2022, will succeed Tan Sri Abdul Wahid Omar, who will retire on April 30 on completion of his five-year tenure as chairman.
This appointment is made by the Minister of Finance under Sections 10(1)(a) and (3) of the Capital Markets and Services Act 2007, it said.
“The exchange will continue to strengthen and thrive under Abdul Farid Alias, who embodies the same core values that drive Bursa Malaysia’s purpose-focused growth, ensuring a continuation of the exchange’s commitment to creating opportunities and growing value for our stakeholders,” said Abdul Wahid in the statement.
Abdul Farid, 57, was the group president and chief executive officer of Malayan Banking Bhd from 2013 until 2022.
He is a seasoned chartered banker with a 30-year career in the banking and financial services sector, with a focus on investment banking, commercial banking, and capital markets.
Abdul Farid holds a Master of Business Administration (Finance) from the University of Denver, United States, and a Bachelor of Science degree in Accounting from the Pennsylvania State University. He also completed the Advanced Management Programme from the Harvard Business School, said the exchange.
Meanwhile, Bursa Malaysia extended its gratitude to Abdul Wahid for his long-standing contributions to the exchange over a period of 12 years, first being its independent director from 2004 to 2011, and then returning to serve as chairman from May 1, 2020.
“Abdul Wahid will be remembered for his invaluable contributions during his chairmanship at Bursa Malaysia.
“In particular, his active role in deepening Bursa Malaysia’s strengths in the Islamic capital market and sustainability space, highlighted by innovations such as the launch of the Bursa Carbon Exchange (the world’s first shariah-compliant multi-environmental product exchange), and the launch of shariah-compliant Bursa Gold Dinar.
“Under his tenure, the exchange also welcomed the world’s first waqf-featured exchange-traded fund,” said Bursa Malaysia.
-- BERNAMA
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