Former Bank Islam Group Chief Executive Officer Mohd Muazzam Mohamed has been appointed to the board of the Consumer Credit Commission, strengthening the newly established regulator overseeing non-bank consumer credit providers in Malaysia.
The Consumer Credit Commission, also known as the Suruhanjaya Kredit Pengguna, was set up to regulate and supervise consumer credit activities outside the traditional banking system. Its scope includes monitoring non-bank lenders and other credit providers to promote responsible lending practices and enhance consumer protection across the sector.
Earlier, the commission named former Bank Negara Malaysia Assistant Governor Abu Hassan Alshari Yahaya as its first Executive Chairman, marking a key step in forming the leadership team for the new regulatory body.
The appointments follow the enforcement of the Consumer Credit Act 2025, which came into effect on 1 March 2026. The implementation of the Act formally marks the start of the commission’s operations as Malaysia’s dedicated authority overseeing consumer credit providers beyond banks and financial institutions. The move is part of broader efforts to strengthen regulatory oversight and improve transparency within the country’s fast-growing consumer credit landscape.
Muazzam stepped down as Group CEO of Bank Islam in December 2025 after serving nearly a decade with the Islamic banking group. During his tenure, he led various strategic initiatives, including strengthening the bank’s digital capabilities and expanding its presence in the Islamic financial services sector.
He will be succeeded by YM Raja Datin Paduka Teh Maimunah Raja Abdul Aziz, who is set to assume the role of Group Chief Executive Officer effective 1 April 2026.
