PIDM appoints Afiza Abdullah as Chief Executive Officer

Perbadanan Insurans Deposit Malaysia (PIDM) has appointed Afiza Abdullah as its chief executive officer (CEO) for a three-year term, effective August 28, 2026.

Afiza will succeed Rafiz Azuan Abdullah, who has led the organisation for nine years.

The appointment was made under the PIDM Act, which provides for the CEO to be appointed by the Minister of Finance upon the recommendation of PIDM’s board of directors.

Afiza joined PIDM in 2011 and brings more than two decades of experience across banking and insurance, with expertise spanning financial regulation, policy development, crisis management and resolution.

During her time at PIDM, she has played a key role in strengthening the organisation’s resolution capabilities, including operationalising the Recovery and Resolution Planning framework in collaboration with Bank Negara Malaysia (BNM). She has also helped strengthen coordination among Malaysia’s financial safety net players through crisis simulations.

Afiza has led several strategic initiatives at PIDM, including key developments under the Takaful and Insurance Benefits Protection System (TIPS). These included enhancements to the Differential Levy System, which encourages sound risk management among insurer members, as well as TIPS information regulations.

Her career progression at PIDM has included roles as General Manager, Policy and International, in 2016 and Executive Vice President, Resolution, in 2022. PIDM said her progression formed part of a carefully planned, board-led succession process.

Before joining PIDM, Afiza spent almost a decade at BNM, where she contributed to prudential policy, the modernisation of the Central Bank of Malaysia Act 2009 and the Financial Sector Blueprint.

She has also represented PIDM internationally, advancing work on deposit insurance, insurance guarantee schemes and resolution practices through the International Association of Deposit Insurers (IADI) and the International Forum of Insurance Guarantee Schemes (IFIGS).

PIDM said Afiza’s leadership roles in these international organisations had helped strengthen the corporation’s standing among its global peers in areas including financial safety nets, crisis preparedness and resolution readiness.

PIDM chairman Datuk Abu Huraira Abu Yazid said the board was confident Afiza’s leadership and expertise would support a seamless transition and ensure continuity in the organisation’s work.

“Her progression from within the organisation reflects the strength of our leadership pipeline,” he said.

Abu Huraira added that as the financial environment becomes increasingly uncertain, PIDM must continue to provide confidence to financial consumers by ensuring they remain protected through a reliable and effective financial safety net.

The board will support Afiza as she takes on the leadership of PIDM, while also expressing its appreciation to Rafiz Azuan for his nine years of leadership.

Rafiz’s tenure has positioned the organisation strongly for the future, PIDM said.