The Financial Reporting Foundation (FRF) was established as an independent body under the Financial Reporting Act 1997 (Act). The FRF and the Malaysian Accounting Standards Board (MASB) are part of the financial reporting framework in Malaysia. The framework comprises representation from all relevant parties in the standard setting process, including preparers, users, regulators and the accountancy profession.
The FRF is largely responsible for the establishment of a sound and effective infrastructure for the financial reporting framework and acts as a sounding board for the adoption of the MASB's accounting standards, technical pronouncements and its annual work programme. The FRF, as a trustee body, has responsibility for the oversight of the MASB's performance, financial and funding arrangements, and as an initial source of views for the MASB on proposed standards and pronouncements. It has no direct responsibility with regard to standard setting. This responsibility rests solely with the MASB.
The functions of the FRF as provided under section 4 (1) of the Act:
(a) to oversee the carrying out of the functions of the MASB; and
(b) to perform any other function as the Minister may prescribe by order published in the Gazette.
Without limiting the generality of functions of the FRF in subsection (1), the FRF shall be responsible:
(a) to provide its views to the MASB on any matter which the MASB seeks to undertake or implement in relation to the MASB’s functions under section 7 of the Act;
(b) to review the performance of the MASB; and
(c) for all financing arrangements for the operations of the MASB, including approving the budget of the MASB.
The Financial Reporting Foundation (FRF) comprises twelve (12) members who are appointed by the Minister of Finance. Eight (8) of the members are ex-officio representing the Minister of Finance, the Central Bank of Malaysia, the Securities Commission Malaysia, the Audit Oversight Board, the Registrar of Companies, Bursa Malaysia Berhad, the Malaysian Institute of Accountants and the Malaysian Accounting Standards Board. The four (4) other members who possess knowledge and experience in matters of financial accounting and in one or more of the following fields of accountancy, law, business, or finance.
Tan Sri Azlan is a Fellow of the Institute of Chartered Accountants in England and Wales (ICAEW), a Fellow Chartered Banker of the Asian Institute of Chartered Bankers (AICB), a Member of the Malaysian Institute of Certified Public Accountants (MICPA) and a Member of the Malaysian Institute of Accountants (MIA).
Tan Sri Azlan was previously the Chief Executive Officer of the Employees Provident Fund Board until his retirement in April 2013. Tan Sri Azlan has more than 30 years of experience in the financial sector, having served as the Managing Director of AmBank Berhad and prior to that, as the Managing Director of AmFinance Berhad.
Tan Sri Azlan’s other directorships in public companies include RHB Bank Berhad (Chairman), RHB Investment Bank Berhad (Chairman), Malaysian Resources Corporation Berhad (Chairman), Kuala Lumpur Kepong Berhad, Eco World International Berhad (Chairman) and Rashid Hussain Berhad (In Member’s Voluntary Liquidation). Tan Sri Azlan is also the Chairman/Trustee of Yayasan Astro Kasih and a Trustee of OSK Foundation.
Puan Mahfuzah binti Baharin started her career with the Tax Division of the Ministry of Finance Malaysia since 2000. She has a degree in MBA (International Business) from Universiti Putra Malaysia and first degree in Accounting (Hons.) from International Islamic University of Malaysia. Currently, she is the Deputy Undersecretary of Tax Division who is responsible on formulating and reviewing the tax incentives policy as well as evaluating the application of tax exemptions given to industries and services under various tax legislation.
Encik Aznan Abdul Aziz is the Assistant Governor of Bank Negara Malaysia. He is responsible for the Payments Oversight, Financial Conglomerates Supervision, Banking Supervision, Insurance and Takaful Supervision as well as Risk Specialist and Technology Supervision Departments.
Prior to his appointment, he served in several departments in the Bank including Financial Conglomerates and Supervision, Governor’s Office, Islamic Banking and Takaful, Financial Sector Development, Financial Intelligence Unit, Financial Surveillance and Bank Regulation Departments.
He also served as the Chairman of the Financial Technology Enabler Group (FTEG) that is responsible for developing strategies and regulatory policies to facilitate the use of technology in financial services.
Prior to joining Bank Negara Malaysia, he was the Assistant General Manager of Danamodal Nasional Berhad, the special purpose vehicle established to recapitalise distressed financial institutions during the 1997 Asian Financial Crisis. He holds a degree in Economics and Accounting from the University of Bristol, England.
Syed Zaid Albar is the Executive Chairman of the Securities Commission Malaysia (SC). Prior to his appointment as the SC Chairman on 1 November 2018, he was the Managing Partner of Albar & Partners.
Currently, Syed Zaid chairs the Capital Market Development Fund (CMDF) and is a member of the Board of the Financial Reporting Foundation. He was also appointed as a Board member of Securities Industry Development Corporation (SIDC) in January 2020.
Syed Zaid represents the SC as the Asia Pacific representative on the governing Board of the International Organisation of Securities Commissions (IOSCO), the global body of capital market regulators.
Syed Zaid has a degree in law from the United Kingdom. He is a Barrister at Law of the Lincoln’s Inn, UK and an Advocate and Solicitor of the High Court of Malaya. He has over 38 years’ experience in legal practice predominantly in the fields of corporate law, capital market, conventional banking and Islamic finance.
He has been recognised for his contribution and achievements in the legal practice through numerous domestic and international awards.
With his experience in finance and law, Syed Zaid has served on the Islamic Law Review Committee of Bank Negara Malaysia and the Appeals Committee of Bursa Malaysia Berhad. He has also served on the boards of several public listed companies in Malaysia.
Nor Azimah Abdul Aziz is the Chief Executive Officer (CEO) of the Companies Commission of Malaysia (SSM). Prior to her appointment as CEO on 1st May 2020, she was the Deputy Chief Executive Officer (DCEO) of Regulatory & Enforcement and thereafter, DCEO of Corporate Services between the period of 2016 to 2020. She started her career in 1992 as an Advocate and Solicitor and from there on served as a Law Lecturer at the Accounting Department, Faculty of Business and Management, National University of Malaysia (UKM). During her tenure with UKM, in July 2000 she was seconded to the Regulatory and Standards Department of the Malaysian Institute of Accountants (MIA). She joined SSM as General Manager of the Corporate Policy, Planning and Development Department in 2003.
Nor Azimah has extensive experienced in law reform initiatives and oversaw the passing of significant pieces of legislations under the purview of SSM among others the Companies Act 2016, Interest Schemes Act 2016, Limited Liability Partnership Act 2012 and Companies (Amendment) Act 2007. She is currently a Board Member of the Audit Oversight Board (AOB), Board Member for the Certification of Certified Integrity Officers (CEIO) and Board Member of the Financial Reporting Foundation (FRF).
Nor Azimah graduated with Bachelor of Laws, from the Institut Teknologi MARA (now UiTM) and obtained her Master of Laws (LLM in Business Law), from the University of Wales, Aberystwyth, United Kingdom.
Datuk Muhamad Umar Swift is the Chief Executive Officer of Bursa Malaysia Berhad. He is also the director of all subsidiary companies within Bursa Malaysia Group, and serves as a Chairman of Bursa Malaysia Derivatives and Clearing.
Datuk Umar has more than 25 years of experience in the areas of banking and financial services. Prior to helming the Exchange, he was the Chief Executive Officer / Group Managing Director of MAA Group Berhad, where he also assumed the role of Chief Executive Officer of Malaysian Assurance Alliance Berhad (now known as Zurich Insurance Malaysia Berhad).
Commencing his career with Price Waterhouse Chartered Accountants, Datuk Umar went on to hold numerous positions within the banking industry before joining Gas Malaysia Sdn Bhd. in 1996 as General Manager, Corporate Finance. A year later, he was promoted to Chief Executive Officer of Gas Malaysia.
In 2002, Datuk Umar became a Practice Leader for the Utilities Business of Deloitte Consulting in Malaysia, before re-entering the financial services industry as Executive Vice President – Head, Enterprise Financial Services Group of Maybank in 2004.
Datuk Umar holds a Bachelor of Economics from Monash University, Australia, and is an Associate of Chartered Accountants Australia and New Zealand, a member of CPA Australia, a Chartered Tax Adviser of The Tax Institute of Australia, and a Fellow of the Financial Services Institute of Australasia (FINSIA) in Australia. He is also a Chartered Accountant with the Malaysian Institute of Accountants, and a Registered Financial Planner.
Dr. Veerinderjeet was appointed as the new President of the Malaysian Institute of Accountants (MIA) on 26 September 2020. He was first appointed as MIA Council member on 25 May 2019.
He is also currently the President of The Malaysian Institute of Certified Public Accountants (MICPA) and is a Non-Executive Chairman of Tricor Services (Malaysia) Sdn Bhd.
Dr. Veerinderjeet has over 30 years of experience in the fields of accounting and taxation and has served in the Inland Revenue Department, University of Malaya (as an Associate Professor), Arthur Andersen and Ernst & Young (as a Tax Partner/Executive Director). He has also authored a number of tax publications.
He is a member of the Commission on Taxation of the International Chamber of Commerce based in Paris and a member of the Board of Trustees of the International Bureau of Fiscal Documentation (a tax research and consultancy body) based in Amsterdam. Dr.Veerinderjeet also sits on the Boards of Malaysian Rating Corporation Berhad, AmBank (M) Berhad and UMW Holdings Berhad.
Encik Raslan, a graduate of University of Melbourne with a Bachelor of Commerce, is a Fellow Member of the Chartered Accountants Australia and New Zealand (formerly known as Institute of Chartered Accountants Australia), former Vice President and Council Member of the Malaysian Institute of Certified Public Accountants (MICPA), former Council Member of the Malaysian Institute of Accountants (MIA) and has chaired its disciplinary and investigation committees, and Associate Member, Malaysian Institute of Cooperative and Management Auditors (ICMA). Encik Raslan was an EXCO member and Treasurer of TI-Malaysia. He was a partner in KPMG from 1994 to 2018, carrying out audit and advisory work. Encik Raslan was also the Managing Partner in KPMG from 2010 to 2013. Encik Raslan has been appointed as Chairman for BDO Malaysia Group, with effect from 2 January 2020.
Puan Anne Rodrigues is a member of Malaysian Institute of Accountants and a Fellow of the Association of Certified Chartered Accountants (ACCA). She also holds a Masters in Business Administration (Distinction) from the University of Bath MIM and a Bachelor of Economics (Class 1 Honours) degree from University of Malaya. She has completed training programmes in “Project Appraisal and Risk Management for Bankers “by Harvard Institute for International Development and Institute of Banks Malaysia and training programmes in Japanese Securities Business by Nomura Securities Co. Ltd Japan.
Puan Anne Rodrigues was the Group Chief Financial Officer of Felda Global Ventures Holdings (FGV) till her official retirement in December 2010. Subsequent to that, she continued as Finance Advisor in FGV and also was posted to Boston as Chief Financial Officer of TRT Holdings Boston USA. She retired in December 2012. She has more than 30 years’ experience in the financial sector, having been previously appointed as the Corporate Treasurer and subsequently Finance Director of Malaysia International Shipping Corporation and previous to that as Finance Manager, Boustead Travel Sdn Bhd.
Puan Anne Rodrigues is currently an Independent Non-Executive Director of the Board of Kuala Lumpur Kepong Berhad and is a member of the Audit Committee of the Board.
Sridharan Nair (or Sri as he is commonly known) is the Vice Chairman, Markets for PwC Asia Pacific, based in Kuala Lumpur, Malaysia. In this capacity, he is also co-chair of the newly created Asia Pacific Executive Team and a member of the Asia Pacific Leadership Team.
Sri has held various leadership roles in PwC prior to taking up this new position in July 2020. He was the Territory Senior Partner (TSP) of the Malaysian firm from 2012 and of the combined Malaysia- Vietnam firm from 2015. He was also the Chairman of the Board of the South East Asia Consulting (SEAC) practice and Board member of the ASEANZ Consulting practice. More recently, he has been made a member of PwC’s Global Inclusion and Diversity Council.
Sri is an alumnus of Universiti Malaya and qualified as a Chartered Accountant in the UK. He has 30 years' experience in audit and business advisory services, having worked with a wide range of clients across various industry sectors in Malaysia.
During his tenure as TSP, Sri was a regular speaker and moderator at various conferences and forums in Malaysia on topics such as leadership, corporate governance, current economic issues, human capital and diversity. For his efforts in driving best practices in creating a diverse and inclusive workplace in PwC Malaysia, he was recognised as CEO Champion at the inaugural Life at Work Awards by the government several years ago.
Encik Jal Othman, was appointed as Independent Director of CIMB Islamic Bank Berhad on 26 January 2018 and is a Member of the Board Risk Committee.
He heads the Islamic Finance practice in Shook Lin & Bok, one of the oldest and largest law firms in Malaysia. Encik Jal was instrumental in setting up the Islamic Finance practice and continues to chart the course of this practice area within the Firm.
Encik Jal heads a team of approximately 20 lawyers advising on Islamic finance deals. His portfolio of work includes advising on a wide range of sukuk issuances for financing power plants in Malaysia and China, vessel construction, project financing for the automotive industry, the textile and garment industry, the downstream and upstream palm oil industry, advising on Islamic structured products and Islamic syndicated financing.
Encik Jal is also actively involved in the drive for innovation in the industry and in this respect Encik Jal leads the team advising on various product developments for Islamic banks, both in Malaysia and abroad.
In addition to Islamic Finance, Encik Jal’s other major areas of practice are corporate commercial law and real estate. His experience in advising on some major cross border mergers and acquisition and real estate acquisitions have benefited him in his role as an Islamic Finance lawyer. Encik Jal is the deputy head of the conventional banking and finance department.
Encik Jal holds positions in INCEIF University (an institution established under the auspices of the Malaysian Central Bank). Encik Jal has also been commissioned by the Malaysian Securities Commission and the Rating Agency of Malaysia in relation to product development and regulatory requirements. Encik Jal is also involved in law reform with his involvement in the Malaysian Central Bank committee for Islamic Finance Law Reform.
Encik Jal also sits on the technical committees of the Malaysian Accounting Standards Board (“MASB”) and the Malaysian Institute of Accountants (MIA). Additionally, he is also a moderator with the Finance Accreditation Agency (FAA) and an arbitrator for Islamic Finance with the Kuala Lumpur Regional Centre for Arbitration (KLRCA). Encik Jal is also a chapter reviewer and contributor for the International Shariah Research Academy (ISRA).
After graduating from Queen Mary & Westfield College of the University of London and after completing the Malaysian Bar examinations, Encik Jal commenced his pupillage in Shook Lin & Bok and continued his employment with the Firm, culminating in his admission as a partner in 2001. He continued his progression within the Firm with his elevation as a senior partner of the Firm in 2004.
Tan Sri Azlan is a Fellow of the Institute of Chartered Accountants in England and Wales (ICAEW), a Fellow Chartered Banker of the Asian Institute of Chartered Bankers (AICB), a Member of the Malaysian Institute of Certified Public Accountants (MICPA) and a Member of the Malaysian Institute of Accountants (MIA).
Tan Sri Azlan was previously the Chief Executive Officer of the Employees Provident Fund Board until his retirement in April 2013. Tan Sri Azlan has more than 30 years of experience in the financial sector, having served as the Managing Director of AmBankBerhad and prior to that, as the Managing Director ofAmFinanceBerhad.
Tan Sri Azlan’s other directorships in public companies include RHB Bank Berhad(Chairman), RHB Investment Bank Berhad (Chairman), Malaysian Resources Corporation Berhad (Chairman), Kuala Lumpur Kepong Berhad (Director), Eco World International Berhad (Chairman) and Rashid Hussain Berhad (In Member’s Voluntary Liquidation). Tan Sri Azlan is also the Chairman/Trustee of Yayasan Astro Kasih and a Trustee of OSKFoundation.
Puan Mahfuzah binti Baharin started her career with the Tax Division of the Ministry of Finance Malaysia since 2000. She has a degree in MBA (International Business) from Universiti Putra Malaysia and first degree in Accounting (Hons.) from International Islamic University of Malaysia. Currently, she is the Deputy Undersecretary of Tax Division who is responsible on formulating and reviewing the tax incentives policy as well as evaluating the application of tax exemptions given to industries and services under various tax legislation.
Encik Aznan Abdul Aziz is the Assistant Governor of Bank Negara Malaysia. He is responsible for the Payments Oversight, Financial Conglomerates Supervision, Banking Supervision, Insurance and Takaful Supervision as well as Risk Specialist and Technology Supervision Departments.
Prior to his appointment, he served in several departments in the Bank including Financial Conglomerates and Supervision, Governor’s Office, Islamic Banking and Takaful, Financial Sector Development, Financial Intelligence Unit, Financial Surveillance and Bank Regulation Departments.
He also served as the Chairman of the Financial Technology Enabler Group (FTEG) that is responsible for developing strategies and regulatory policies to facilitate the use of technology in financial services.
Prior to joining Bank Negara Malaysia, he was the Assistant General Manager of Danamodal Nasional Berhad, the special purpose vehicle established to recapitalise distressed financial institutions during the 1997 Asian Financial Crisis. He holds a degree in Economics and Accounting from the University of Bristol, England.
Syed Zaid Albar is the Executive Chairman of the Securities Commission Malaysia (SC). Prior to his appointment as the SC Chairman on 1 November 2018, he was the Managing Partner of Albar & Partners.
Currently, Syed Zaid chairs the Capital Market Development Fund (CMDF) and is a member of the Board of the Financial Reporting Foundation. He was also appointed as a Board member of Securities Industry Development Corporation (SIDC) in January 2020.
Syed Zaid represents the SC as the Asia Pacific representative on the governing Board of the International Organisation of Securities Commissions (IOSCO), the global body of capital market regulators.
Syed Zaid has a degree in law from the United Kingdom. He is a Barrister at Law of the Lincoln’s Inn, UK and an Advocate and Solicitor of the High Court of Malaya. He has over 38 years’ experience in legal practice predominantly in the fields of corporate law, capital market, conventional banking and Islamic finance.
He has been recognised for his contribution and achievements in the legal practice through numerous domestic and international awards.
With his experience in finance and law, Syed Zaid has served on the Islamic Law Review Committee of Bank Negara Malaysia and the Appeals Committee of Bursa Malaysia Berhad. He has also served on the boards of several public listed companies in Malaysia.
Nor Azimah Abdul Aziz is the Chief Executive Officer (CEO) of the Companies Commission of Malaysia (SSM). Prior to her appointment as CEO on 1st May 2020, she was the Deputy Chief Executive Officer (DCEO) of Regulatory & Enforcement and thereafter, DCEO of Corporate Services between the period of 2016 to 2020. She started her career in 1992 as an Advocate and Solicitor and from there on served as a Law Lecturer at the Accounting Department, Faculty of Business and Management, National University of Malaysia (UKM). During her tenure with UKM, in July 2000 she was seconded to the Regulatory and Standards Department of the Malaysian Institute of Accountants (MIA). She joined SSM as General Manager of the Corporate Policy, Planning and Development Department in 2003.
Nor Azimah has extensive experienced in law reform initiatives and oversaw the passing of significant pieces of legislations under the purview of SSM among others the Companies Act 2016, Interest Schemes Act 2016, Limited Liability Partnership Act 2012 and Companies (Amendment) Act 2007. She is currently a Board Member of the Audit Oversight Board (AOB), Board Member for the Certification of Certified Integrity Officers (CEIO) and Board Member of the Financial Reporting Foundation (FRF).
Nor Azimah graduated with Bachelor of Laws, from the Institut Teknologi MARA (now UiTM) and obtained her Master of Laws (LLM in Business Law), from the University of Wales, Aberystwyth, United Kingdom.
Datuk Muhamad Umar Swift is the Chief Executive Officer of Bursa Malaysia Berhad. He is also the director of all subsidiary companies within Bursa Malaysia Group, and serves as a Chairman of Bursa Malaysia Derivatives and Clearing.
Datuk Umar has more than 25 years of experience in the areas of banking and financial services. Prior to helming the Exchange, he was the Chief Executive Officer / Group Managing Director of MAA Group Berhad, where he also assumed the role of Chief Executive Officer of Malaysian Assurance Alliance Berhad (now known as Zurich Insurance Malaysia Berhad).
Commencing his career with Price Waterhouse Chartered Accountants, Datuk Umar went on to hold numerous positions within the banking industry before joining Gas Malaysia Sdn Bhd. in 1996 as General Manager, Corporate Finance. A year later, he was promoted to Chief Executive Officer of Gas Malaysia.
In 2002, Datuk Umar became a Practice Leader for the Utilities Business of Deloitte Consulting in Malaysia, before re-entering the financial services industry as Executive Vice President – Head, Enterprise Financial Services Group of Maybank in 2004.
Datuk Umar holds a Bachelor of Economics from Monash University, Australia, and is an Associate of Chartered Accountants Australia and New Zealand, a member of CPA Australia, a Chartered Tax Adviser of The Tax Institute of Australia, and a Fellow of the Financial Services Institute of Australasia (FINSIA) in Australia. He is also a Chartered Accountant with the Malaysian Institute of Accountants, and a Registered Financial Planner.
Dr. Veerinderjeet was appointed as the new President of the Malaysian Institute of Accountants (MIA) on 26 September 2020. He was first appointed as MIA Council member on 25 May 2019.
He is also currently the President of The Malaysian Institute of Certified Public Accountants (MICPA) and is a Non-Executive Chairman of Tricor Services (Malaysia) Sdn Bhd.
Dr. Veerinderjeet has over 30 years of experience in the fields of accounting and taxation and has served in the Inland Revenue Department, University of Malaya (as an Associate Professor),Arthur Andersen and Ernst & Young (as a Tax Partner/Executive Director). He has also authored a number of tax publications.
He is a member of the Commission on Taxation of the International Chamber of Commerce based in Paris and a member of the Board of Trustees of the International Bureau of Fiscal Documentation (a tax research and consultancy body) based in Amsterdam. Dr.Veerinderjeet also sits on the Boards of Malaysian Rating Corporation Berhad, AmBank (M) Berhad and UMW Holdings Berhad.
Encik Raslan, a graduate of University of Melbourne with a Bachelor of Commerce, is a Fellow Member of the Chartered Accountants Australia and New Zealand (formerly known as Institute of Chartered Accountants Australia), former Vice President and Council Member of the Malaysian Institute of Certified Public Accountants (MICPA), former Council Member of the Malaysian Institute of Accountants (MIA) and has chaired its disciplinary and investigation committees, and Associate Member, Malaysian Institute of Cooperative and Management Auditors (ICMA). Encik Raslan was an EXCO member and Treasurer of TI-Malaysia. He was a partner in KPMG from 1994 to 2018, carrying out audit and advisory work. Encik Raslan was also the Managing Partner in KPMG from 2010 to 2013. Encik Raslan has been appointed as Chairman for BDO Malaysia Group, with effect from 2 January 2020.
Puan Anne Rodrigues is a member of Malaysian Institute of Accountants and a Fellow of the Association of Certified Chartered Accountants (ACCA). She also holds a Masters in Business Administration (Distinction) from the University of Bath MIM and a Bachelor of Economics (Class 1 Honours) degree from University of Malaya. She has completed training programmes in “Project Appraisal and Risk Management for Bankers “by Harvard Institute for International Development and Institute of Banks Malaysia and training programmes in Japanese Securities Business by Nomura Securities Co. Ltd Japan.
Puan Anne Rodrigues was the Group Chief Financial Officer of Felda Global Ventures Holdings (FGV) till her official retirement in December 2010. Subsequent to that, she continued as Finance Advisor in FGV and also was posted to Boston as Chief Financial Officer of TRT Holdings Boston USA. She retired in December 2012. She has more than 30 years’ experience in the financial sector, having been previously appointed as the Corporate Treasurer and subsequently Finance Director of Malaysia International Shipping Corporation and previous to that as Finance Manager, Boustead Travel Sdn Bhd.
Puan Anne Rodrigues is currently an Independent Non-Executive Director of the Board of Kuala Lumpur Kepong Berhad and is a member of the Audit Committee of the Board.
Sridharan Nair (or Sri as he is commonly known) is the Vice Chairman, Markets for PwC Asia Pacific, based in Kuala Lumpur, Malaysia. In this capacity, he is also co-chair of the newly created Asia Pacific Executive Team and a member of the Asia Pacific Leadership Team.
Sri has held various leadership roles in PwC prior to taking up this new position in July 2020. He was the Territory Senior Partner (TSP) of the Malaysian firm from 2012 and of the combined Malaysia- Vietnam firm from 2015. He was also the Chairman of the Board of the South East Asia Consulting (SEAC) practice and Board member of the ASEANZ Consulting practice. More recently, he has been made a member of PwC’s Global Inclusion and Diversity Council.
Sri is an alumnus of Universiti Malaya and qualified as a Chartered Accountant in the UK. He has 30 years' experience in audit and business advisory services, having worked with a wide range of clients across various industry sectors in Malaysia.
During his tenure as TSP, Sri was a regular speaker and moderator at various conferences and forums in Malaysia on topics such as leadership, corporate governance, current economic issues, human capital and diversity. For his efforts in driving best practices in creating a diverse and inclusive workplace in PwC Malaysia, he was recognised as CEO Champion at the inaugural Life at Work Awards by the government several years ago.
Encik Jal Othman, was appointed as Independent Director of CIMB Islamic Bank Berhad on 26 January 2018 and is a Member of the Board Risk Committee.
He heads the Islamic Finance practice in Shook Lin & Bok, one of the oldest and largest law firms in Malaysia. Encik Jal was instrumental in setting up the Islamic Finance practice and continues to chart the course of this practice area within the Firm.
Encik Jal heads a team of approximately 20 lawyers advising on Islamic finance deals. His portfolio of work includes advising on a wide range of sukuk issuances for financing power plants in Malaysia and China, vessel construction, project financing for the automotive industry, the textile and garment industry, the downstream and upstream palm oil industry, advising on Islamic structured products and Islamic syndicated financing.
Encik Jal is also actively involved in the drive for innovation in the industry and in this respect Encik Jal leads the team advising on various product developments for Islamic banks, both in Malaysia and abroad.
In addition to Islamic Finance, Encik Jal’s other major areas of practice are corporate commercial law and real estate. His experience in advising on some major cross border mergers and acquisition and real estate acquisitions have benefited him in his role as an Islamic Finance lawyer. Encik Jal is the deputy head of the conventional banking and finance department.
Encik Jal holds positions in INCEIF University (an institution established under the auspices of the Malaysian Central Bank). Encik Jal has also been commissioned by the Malaysian Securities Commission and the Rating Agency of Malaysia in relation to product development and regulatory requirements. Encik Jal is also involved in law reform with his involvement in the Malaysian Central Bank committee for Islamic Finance Law Reform.
Encik Jal also sits on the technical committees of the Malaysian Accounting Standards Board (“MASB”) and the Malaysian Institute of Accountants (MIA). Additionally, he is also a moderator with the Finance Accreditation Agency (FAA) and an arbitrator for Islamic Finance with the Kuala Lumpur Regional Centre for Arbitration (KLRCA). Encik Jal is also a chapter reviewer and contributor for the International Shariah Research Academy (ISRA).
After graduating from Queen Mary & Westfield College of the University of London and after completing the Malaysian Bar examinations, Encik Jal commenced his pupillage in Shook Lin & Bok and continued his employment with the Firm, culminating in his admission as a partner in 2001. He continued his progression within the Firm with his elevation as a senior partner of the Firm in 2004.
Tan Sri Azlan is a Fellow of the Institute of Chartered Accountants in England and Wales (ICAEW), a Fellow Chartered Banker of the Asian Institute of Chartered Bankers (AICB), a Member of the Malaysian Institute of Certified Public Accountants (MICPA) and a Member of the Malaysian Institute of Accountants (MIA).
Tan Sri Azlan was previously the Chief Executive Officer of the Employees Provident Fund Board until his retirement in April 2013. Tan Sri Azlan has more than 30 years of experience in the financial sector, having served as the Managing Director of AmBank Berhad and prior to that, as the Managing Director of AmFinance Berhad.
Tan Sri Azlan’s other directorships in public companies include RHB Bank Berhad (Chairman), RHB Investment Bank Berhad (Chairman), Malaysian Resources Corporation Berhad (Chairman), Kuala Lumpur Kepong Berhad, Eco World International Berhad (Chairman) and Rashid Hussain Berhad (In Member’s Voluntary Liquidation). Tan Sri Azlan is also the Chairman/Trustee of Yayasan Astro Kasih and a Trustee of OSK Foundation.
Puan Mahfuzah binti Baharin started her career with the Tax Division of the Ministry of Finance Malaysia since 2000. She has a degree in MBA (International Business) from Universiti Putra Malaysia and first degree in Accounting (Hons.) from International Islamic University of Malaysia. Currently, she is the Deputy Undersecretary of Tax Division who is responsible on formulating and reviewing the tax incentives policy as well as evaluating the application of tax exemptions given to industries and services under various tax legislation.
Encik Aznan Abdul Aziz is the Assistant Governor of Bank Negara Malaysia. He is responsible for the Payments Oversight, Financial Conglomerates Supervision, Banking Supervision, Insurance and Takaful Supervision as well as Risk Specialist and Technology Supervision Departments.
Prior to his appointment, he served in several departments in the Bank including Financial Conglomerates and Supervision, Governor’s Office, Islamic Banking and Takaful, Financial Sector Development, Financial Intelligence Unit, Financial Surveillance and Bank Regulation Departments.
He also served as the Chairman of the Financial Technology Enabler Group (FTEG) that is responsible for developing strategies and regulatory policies to facilitate the use of technology in financial services.
Prior to joining Bank Negara Malaysia, he was the Assistant General Manager of Danamodal Nasional Berhad, the special purpose vehicle established to recapitalise distressed financial institutions during the 1997 Asian Financial Crisis. He holds a degree in Economics and Accounting from the University of Bristol, England.
Syed Zaid Albar is the Executive Chairman of the Securities Commission Malaysia (SC). Prior to his appointment as the SC Chairman on 1 November 2018, he was the Managing Partner of Albar & Partners.
Currently, Syed Zaid chairs the Capital Market Development Fund (CMDF) and is a member of the Board of the Financial Reporting Foundation. He was also appointed as a Board member of Securities Industry Development Corporation (SIDC) in January 2020.
Syed Zaid represents the SC as the Asia Pacific representative on the governing Board of the International Organisation of Securities Commissions (IOSCO), the global body of capital market regulators.
Syed Zaid has a degree in law from the United Kingdom. He is a Barrister at Law of the Lincoln’s Inn, UK and an Advocate and Solicitor of the High Court of Malaya. He has over 38 years’ experience in legal practice predominantly in the fields of corporate law, capital market, conventional banking and Islamic finance.
He has been recognised for his contribution and achievements in the legal practice through numerous domestic and international awards.
With his experience in finance and law, Syed Zaid has served on the Islamic Law Review Committee of Bank Negara Malaysia and the Appeals Committee of Bursa Malaysia Berhad. He has also served on the boards of several public listed companies in Malaysia.
Nor Azimah Abdul Aziz is the Chief Executive Officer (CEO) of the Companies Commission of Malaysia (SSM). Prior to her appointment as CEO on 1st May 2020, she was the Deputy Chief Executive Officer (DCEO) of Regulatory & Enforcement and thereafter, DCEO of Corporate Services between the period of 2016 to 2020. She started her career in 1992 as an Advocate and Solicitor and from there on served as a Law Lecturer at the Accounting Department, Faculty of Business and Management, National University of Malaysia (UKM). During her tenure with UKM, in July 2000 she was seconded to the Regulatory and Standards Department of the Malaysian Institute of Accountants (MIA). She joined SSM as General Manager of the Corporate Policy, Planning and Development Department in 2003.
Nor Azimah has extensive experienced in law reform initiatives and oversaw the passing of significant pieces of legislations under the purview of SSM among others the Companies Act 2016, Interest Schemes Act 2016, Limited Liability Partnership Act 2012 and Companies (Amendment) Act 2007. She is currently a Board Member of the Audit Oversight Board (AOB), Board Member for the Certification of Certified Integrity Officers (CEIO) and Board Member of the Financial Reporting Foundation (FRF).
Nor Azimah graduated with Bachelor of Laws, from the Institut Teknologi MARA (now UiTM) and obtained her Master of Laws (LLM in Business Law), from the University of Wales, Aberystwyth, United Kingdom.
Datuk Muhamad Umar Swift is the Chief Executive Officer of Bursa Malaysia Berhad. He is also the director of all subsidiary companies within Bursa Malaysia Group, and serves as a Chairman of Bursa Malaysia Derivatives and Clearing.
Datuk Umar has more than 25 years of experience in the areas of banking and financial services. Prior to helming the Exchange, he was the Chief Executive Officer / Group Managing Director of MAA Group Berhad, where he also assumed the role of Chief Executive Officer of Malaysian Assurance Alliance Berhad (now known as Zurich Insurance Malaysia Berhad).
Commencing his career with Price Waterhouse Chartered Accountants, Datuk Umar went on to hold numerous positions within the banking industry before joining Gas Malaysia Sdn Bhd. in 1996 as General Manager, Corporate Finance. A year later, he was promoted to Chief Executive Officer of Gas Malaysia.
In 2002, Datuk Umar became a Practice Leader for the Utilities Business of Deloitte Consulting in Malaysia, before re-entering the financial services industry as Executive Vice President – Head, Enterprise Financial Services Group of Maybank in 2004.
Datuk Umar holds a Bachelor of Economics from Monash University, Australia, and is an Associate of Chartered Accountants Australia and New Zealand, a member of CPA Australia, a Chartered Tax Adviser of The Tax Institute of Australia, and a Fellow of the Financial Services Institute of Australasia (FINSIA) in Australia. He is also a Chartered Accountant with the Malaysian Institute of Accountants, and a Registered Financial Planner.
Dr. Veerinderjeet was appointed as the new President of the Malaysian Institute of Accountants (MIA) on 26 September 2020. He was first appointed as MIA Council member on 25 May 2019.
He is also currently the President of The Malaysian Institute of Certified Public Accountants (MICPA) and is a Non-Executive Chairman of Tricor Services (Malaysia) Sdn Bhd.
Dr. Veerinderjeet has over 30 years of experience in the fields of accounting and taxation and has served in the Inland Revenue Department, University of Malaya (as an Associate Professor), Arthur Andersen and Ernst & Young (as a Tax Partner/Executive Director). He has also authored a number of tax publications.
He is a member of the Commission on Taxation of the International Chamber of Commerce based in Paris and a member of the Board of Trustees of the International Bureau of Fiscal Documentation (a tax research and consultancy body) based in Amsterdam. Dr. Veerinderjeet also sits on the Boards of Malaysian Rating Corporation Berhad, AmBank (M) Berhad and UMW Holdings Berhad.
Encik Raslan, a graduate of University of Melbourne with a Bachelor of Commerce, is a Fellow Member of the Chartered Accountants Australia and New Zealand (formerly known as Institute of Chartered Accountants Australia), former Vice President and Council Member of the Malaysian Institute of Certified Public Accountants (MICPA), former Council Member of the Malaysian Institute of Accountants (MIA) and has chaired its disciplinary and investigation committees, and Associate Member, Malaysian Institute of Cooperative and Management Auditors (ICMA). Encik Raslan was an EXCO member and Treasurer of TI-Malaysia. He was a partner in KPMG from 1994 to 2018, carrying out audit and advisory work. Encik Raslan was also the Managing Partner in KPMG from 2010 to 2013. Encik Raslan has been appointed as Chairman for BDO Malaysia Group, with effect from 2 January 2020.
Puan Anne Rodrigues is a member of Malaysian Institute of Accountants and a Fellow of the Association of Certified Chartered Accountants (ACCA). She also holds a Masters in Business Administration (Distinction) from the University of Bath MIM and a Bachelor of Economics (Class 1 Honours) degree from University of Malaya. She has completed training programmes in “Project Appraisal and Risk Management for Bankers “by Harvard Institute for International Development and Institute of Banks Malaysia and training programmes in Japanese Securities Business by Nomura Securities Co. Ltd Japan.
Puan Anne Rodrigues was the Group Chief Financial Officer of Felda Global Ventures Holdings (FGV) till her official retirement in December 2010. Subsequent to that, she continued as Finance Advisor in FGV and also was posted to Boston as Chief Financial Officer of TRT Holdings Boston USA. She retired in December 2012. She has more than 30 years’ experience in the financial sector, having been previously appointed as the Corporate Treasurer and subsequently Finance Director of Malaysia International Shipping Corporation and previous to that as Finance Manager, Boustead Travel Sdn Bhd.
Puan Anne Rodrigues is currently an Independent Non-Executive Director of the Board of Kuala Lumpur Kepong Berhad and is a member of the Audit Committee of the Board.
Sridharan Nair (or Sri as he is commonly known) is the Vice Chairman, Markets for PwC Asia Pacific, based in Kuala Lumpur, Malaysia. In this capacity, he is also co-chair of the newly created Asia Pacific Executive Team and a member of the Asia Pacific Leadership Team.
Sri has held various leadership roles in PwC prior to taking up this new position in July 2020. He was the Territory Senior Partner (TSP) of the Malaysian firm from 2012 and of the combined Malaysia- Vietnam firm from 2015. He was also the Chairman of the Board of the South East Asia Consulting (SEAC) practice and Board member of the ASEANZ Consulting practice. More recently, he has been made a member of PwC’s Global Inclusion and Diversity Council.
Sri is an alumnus of Universiti Malaya and qualified as a Chartered Accountant in the UK. He has 30 years' experience in audit and business advisory services, having worked with a wide range of clients across various industry sectors in Malaysia.
During his tenure as TSP, Sri was a regular speaker and moderator at various conferences and forums in Malaysia on topics such as leadership, corporate governance, current economic issues, human capital and diversity. For his efforts in driving best practices in creating a diverse and inclusive workplace in PwC Malaysia, he was recognised as CEO Champion at the inaugural Life at Work Awards by the government several years ago.
Encik Jal Othman, was appointed as Independent Director of CIMB Islamic Bank Berhad on 26 January 2018 and is a Member of the Board Risk Committee.
He heads the Islamic Finance practice in Shook Lin & Bok, one of the oldest and largest law firms in Malaysia. Encik Jal was instrumental in setting up the Islamic Finance practice and continues to chart the course of this practice area within the Firm.
Encik Jal heads a team of approximately 20 lawyers advising on Islamic finance deals. His portfolio of work includes advising on a wide range of sukuk issuances for financing power plants in Malaysia and China, vessel construction, project financing for the automotive industry, the textile and garment industry, the downstream and upstream palm oil industry, advising on Islamic structured products and Islamic syndicated financing.
Encik Jal is also actively involved in the drive for innovation in the industry and in this respect Encik Jal leads the team advising on various product developments for Islamic banks, both in Malaysia and abroad.
In addition to Islamic Finance, Encik Jal’s other major areas of practice are corporate commercial law and real estate. His experience in advising on some major cross border mergers and acquisition and real estate acquisitions have benefited him in his role as an Islamic Finance lawyer. Encik Jal is the deputy head of the conventional banking and finance department.
Encik Jal holds positions in INCEIF University (an institution established under the auspices of the Malaysian Central Bank). Encik Jal has also been commissioned by the Malaysian Securities Commission and the Rating Agency of Malaysia in relation to product development and regulatory requirements. Encik Jal is also involved in law reform with his involvement in the Malaysian Central Bank committee for Islamic Finance Law Reform.
Encik Jal also sits on the technical committees of the Malaysian Accounting Standards Board (“MASB”) and the Malaysian Institute of Accountants (MIA). Additionally, he is also a moderator with the Finance Accreditation Agency (FAA) and an arbitrator for Islamic Finance with the Kuala Lumpur Regional Centre for Arbitration (KLRCA). Encik Jal is also a chapter reviewer and contributor for the International Shariah Research Academy (ISRA).
After graduating from Queen Mary & Westfield College of the University of London and after completing the Malaysian Bar examinations, Encik Jal commenced his pupillage in Shook Lin & Bok and continued his employment with the Firm, culminating in his admission as a partner in 2001. He continued his progression within the Firm with his elevation as a senior partner of the Firm in 2004.
Members of the FRF Committees are:
Executive Committee
Audit Committee
Nomination Committee
Procurement Committee
Quotation Committee