This article first appeared in The Edge Financial Daily, on July 21, 2016.

KUALA LUMPUR: Al Rajhi Bank Malaysia (ARBM), a wholly-owned subsidiary of the world’s largest Islamic bank, Saudi Arabia’s Al Rajhi Bank, announced yesterday that it has a new chairman, Datuk Dr Nik Norzrul Thani Nik Hassan.

In a statement, ARBM said the appointment took effect on July 13.

It said Nik had over 35 years of local and international experience in the legal, academic and Islamic banking sectors.

Prior to this, he was acting chairman of the bank. He has also served as a board member of ARBM since 2006.

It said Nik had extensive experience in advising clients on debt and corporate restructuring transactions, as well as issuance of private debt securities, including Islamic financial instruments (domestic and international). He is a director of several government-linked and public listed companies.

“We are very pleased as Datuk Nik assumes the role of chairman of the board of directors. As chairman, his valuable perspective, judgement and counsel will bring continuity, and ensure the bank will continue to execute its defined strategic initiatives over the next few years,” said ARBM chief executive officer Steve Chen.