Kuala lumpur: The Ministry of Finance (MoF) has appointed Datuk Ahmad Hizzad Baharuddin as chairman of the Labuan Financial Services Authority (Labuan FSA) for a two-year term from November 15, 2025, to November 14, 2027.

According to BERNAMA News Agency, Ahmad Hizzad currently chairs FWD Takaful Bhd and KAF Digital Bank Bhd, and is a board member of Small Medium Enterprise Development Bank Malaysia Bhd. His appointment to the Labuan FSA builds on a distinguished 32-year career at Bank Negara Malaysia (BNM), where he held senior positions in Islamic Banking and Takaful, Financial Sector Development, and Payment Systems and Instruments. He served as Assistant Governor from 2014 until his retirement in 2018.

Ahmad Hizzad has also held significant leadership roles, including serving as chairman of Payments Network Malaysia Sdn Bhd (PayNet) and Mizuho Bank (Malaysia) Bhd. Additionally, he was the director general of Labuan FSA from 2011 to 2017. His educational qualifications include a Master of Business Administration from St. Louis University and a Bachelor of Business Studies from Eastern Illinois University in the United States.

Labuan FSA director general Affendi Rashdi welcomed the appointment, highlighting Ahmad Hizzad’s extensive experience at BNM and previous leadership at Labuan FSA as providing deep insight into the Labuan International Business and Financial Centre (Labuan IBFC). Affendi Rashdi stated, “His breadth of knowledge and experience makes him highly suited to serve as chairman of Labuan FSA. The management looks forward to his guidance as we continue advancing the Labuan IBFC’s growth and development agenda.”

Moreover, Labuan FSA expressed appreciation to Datuk Wan Mohd Fadzmi Che Wan Othman Fadzilah, the former chairman who retired in 2024, for his dedicated leadership and contributions during his tenure.