Kuala Lumpur: Bursa Malaysia Bhd has announced the appointment of Tan Sri Abdul Farid Alias as its new chairman, with the role effective from May 1, 2025. Abdul Farid will take over from Tan Sri Abdul Wahid Omar, who will retire on April 30 after completing his five-year tenure as chairman.

According to BERNAMA News Agency, the appointment was made by the Minister of Finance under Sections 10(1)(a) and (3) of the Capital Markets and Services Act 2007. Bursa Malaysia expressed confidence that Abdul Farid will continue to uphold the values and growth strategies that align with the exchange’s goals of creating opportunities and growing value for stakeholders. Abdul Wahid commented in the statement that Abdul Farid embodies the core values that drive the exchange’s purpose-focused growth.

Abdul Farid, 57, brings to the position a wealth of experience, having served as the group president and chief executive officer of Malayan Banking Bhd from 2013 to 2022. His career in the banking and financial services sector spans 30 years, with expertise in investment banking, commercial banking, and capital markets. He holds a Master of Business Administration in Finance from the University of Denver and a Bachelor of Science degree in Accounting from Pennsylvania State University. Additionally, he completed the Advanced Management Programme at Harvard Business School.

Bursa Malaysia also extended its gratitude to Abdul Wahid for his extensive contributions over 12 years, which began with his role as an independent director from 2004 to 2011, before returning as chairman from May 2020. Abdul Wahid is credited with significant advancements in the Islamic capital market and sustainability initiatives during his tenure. Notable achievements include the launch of the Bursa Carbon Exchange, the world’s first shariah-compliant multi-environmental product exchange, and the introduction of the shariah-compliant Bursa Gold Dinar. The exchange also launched the world’s first waqf-featured exchange-traded fund under his leadership.