KUALA LUMPUR (May 11): Bank Simpanan Nasional on Monday announced the appointment of Mujibburrahman Abd Rashid, the bank’s number two officer, as its acting chief executive.
Datuk Jay Khairil Jeremy Abdullah, the current CEO of the bank also known as BSN, is leaving the development bank to join state-owned Retirement Fund Inc (KWAP). The bank did not indicate whether a permanent successor to Jay Khairil has been identified.
Mujibburrahman has served the bank since 2018 and has extensive experience in banking operations, management and business, according to a statement from BSN.
BSN currently operates more than 387 branches serving more than 10 million customers including in rural and remote areas, according to its website.
The bank also thanked Jay Khairil, 50, for his service leading the bank focused on financial inclusion, microfinance, and banking access since February 2021.
“He has been a key driver in strengthening the bank’s financial performance and social mandate, while also reinforcing governance and broadening financial inclusion, positioning BSN as a sustainable and resilient financial institution,” BSN chairman Datuk Seri Dr Awang Adek Hussin said.
The bank recorded average annual growth rates of 8.4% in fee-based income and 8.1% in financing growth under Jay Khairil’s leadership. The bank also said more than 72,000 micro and small entrepreneurs had received financing totalling RM2.2 billion, giving BSN a 66% market share.
Earlier on Monday, KWAP announced Jay Khairil’s appointment as its CEO. An earlier report by The Edge named him as one of the front runners for the role following the expiry of Datuk Nik Amlizan Mohamed’s contract.