Kuala lumpur: Perbadanan Insurans Deposit Malaysia (PIDM) has announced the appointment of Afiza Abdullah as its chief executive officer (CEO) for a three-year term, effective August 28, 2026. She will succeed Rafiz Azuan Abdullah, who has led the organization for nine years.
According to BERNAMA News Agency, the appointment is made under the PIDM Act, which mandates the CEO to be appointed by the Minister of Finance upon the recommendation of its board of directors. Afiza, who joined PIDM in 2011, brings more than two decades of experience in banking and insurance, specifically in financial regulation, policy development, crisis management, and resolution.
PIDM highlighted that Afiza played a significant role in shaping the organization's resolution journey. Her contributions include operationalizing the Recovery and Resolution Planning framework with Bank Negara Malaysia (BNM) and enhancing coordination among Malaysia's financial safety net players through crisis simulations. Since joining PIDM, Afiza has led several strategic initiatives, including developments under the Takaful and Insurance Benefits Protection System.
The organization noted Afiza's progression from General Manager, Policy and International in 2016 to Executive Vice President, Resolution in 2022 as part of a carefully planned, board-led succession process. Before her tenure at PIDM, Afiza spent nearly a decade at BNM, where she contributed to prudential policy, the modernization of the Central Bank of Malaysia Act 2009, and the Financial Sector Blueprint.
Internationally, Afiza has advanced deposit insurance, insurance guarantee schemes, and resolution practices through her involvement with the International Association of Deposit Insurers (IADI) and the International Forum of Insurance Guarantee Schemes (IFIGS). Her leadership in these organizations has earned PIDM recognition among its international peers for strengthening safety nets, crisis preparedness, and resolution readiness.
PIDM chairman Datuk Abu Huraira Abu Yazid expressed confidence in Afiza's strong leadership and expertise, ensuring a seamless transition and continuity in PIDM's efforts to enhance resolution readiness and crisis preparedness. He emphasized the importance of PIDM remaining a source of confidence in an increasingly uncertain environment, providing assurance to financial consumers with a reliable and effective financial safety net.
The board looks forward to supporting Afiza as she leads PIDM into its next chapter, while also expressing deep appreciation to Rafiz Azuan for his nine years of exemplary leadership, leaving the organization well-positioned for the future.