KUALA LUMPUR – Datuk Seri Nazir Razak has been nominated to lead Bank Pembangunan Malaysia Bhd as its new chairman, sources told The Vibes.
Nazir, who is former CIMB Holdings Bhd chairman, is expected to succeed Datuk Zaiton Mohd Hassan. Zainon’s two-year contract ended last month.
It is understood that Nazir’s application will go through the usual vetting process by Bank Negara Malaysia (BNM) before it is submitted to the Finance Ministry for consideration and confirmation.
Insiders said Nazir is the top choice for the ministry, while BNM wants Zaiton to extend her contract.
If Nazir takes the helm, his first priority will be to ensure the merger of development finance institutions – which include Bank Pembangunan, Danajamin Nasional Bhd, Export-Import Bank of Malaysia Bhd, and SME Bank – is completed.
He has a working history with Finance Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz, who was group chief executive of CIMB when the former was still with the banking group. – The Vibes, March 3, 2021
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