Malaysia Deposit Insurance Corp (PIDM) has appointed Afiza Abdullah as its new chief executive officer for a three-year term, effective Aug 28.
She succeeds Rafiz Azuan Abdullah, who served as CEO for nine years, marking a significant leadership transition for the organisation.
In a statement on Monday, PIDM said Afiza brings two decades of experience across banking and insurance, spanning financial regulation, policy development, crisis management and resolution. PIDM chairman Datuk Abu Huraira Abu Yazid said her appointment reflects her strong leadership and expertise, ensuring a smooth transition while maintaining continuity in PIDM’s critical work on resolution readiness and crisis preparedness.
Chief Executive Officer of Malaysia Deposit Insurance Corp (PIDM) – Afiza Abdullah.
Afiza’s leadership path reflects PIDM’s structured succession planning. She moved from general manager of Policy and International in 2016 to executive vice-president of Resolution in 2022, roles in which she oversaw policy development and resolution planning, gaining deep institutional knowledge along the way.
“In an increasingly uncertain environment, PIDM must remain a source of confidence, providing certainty to financial consumers that they will continue to be protected through a reliable and effective financial safety net,” PIDM said in the statement.
PIDM said that since joining the organisation in 2011, Afiza has led several key initiatives under the Takaful and Insurance Benefits Protection System (TIPS), including enhancements to the risk-based Differential Levy System aimed at promoting sound risk management among insurer members, as well as updates to TIPS information regulations designed to strengthen the system’s overall effectiveness.
Prior to joining PIDM, Afiza spent close to a decade at Bank Negara Malaysia, where she worked on prudential policy matters, including the modernisation of the Central Bank of Malaysia Act 2009 and the development of the Financial Sector Blueprint, gaining extensive regulatory and policy expertise that has shaped her approach to financial sector oversight.
PIDM, established in 2005, administers the Deposit Insurance System and Takaful and Insurance Benefits Protection System, and serves as the resolution authority for its member institutions. As a statutory body, PIDM provides protection against the loss of deposits and insurance or takaful benefits with its member institutions in the event of a failure, playing a critical role in maintaining financial stability and consumer confidence within Malaysia’s financial system.
