KUALA LUMPUR (Aug 17): Malaysian Insurance Deposit Corp or 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.
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 Afiza’s 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.
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.
“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.
PIDM said since joining PIDM in 2011, Afiza has led key initiatives under the Takaful and Insurance Benefits Protection System, including enhancements to the risk-based Differential Levy System to promote sound risk management among insurer members, and updates to TIPS information regulations.
Prior to joining PIDM, Afiza spent close to a decade at Bank Negara Malaysia. There, 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.
PIDM, established in 2005, administers the Deposit Insurance System and Takaful and Insurance Benefits Protection System, and serves as resolution authority for member institutions.
PIDM is a statutory body which provides protection against the loss of deposit and insurance or takaful benefits with its member institutions in the event of a failure.