The current members comprise business leaders from the private sector as well as representatives from the government and statutory bodies. The roles and responsibilities of the Authority include setting the direction and policies relating to the conduct of business activities in Labuan IBFC. The day-to-day administration of Labuan FSA is entrusted to the Director-General.
The members of the Authority:
(Chairman)
Currently, he holds various chairmanship and directorships in banking institutions as well as both public and private companies. Notably, Dato’ Wan Mohd Fadzmi is the Independent Non-Executive Chairman of Sumitomo Mitsui Banking Corporation (M) Berhad, and Independent Non-Executive Director of Zurich General Takaful Malaysia Berhad, Hap Seng Consolidated Berhad as well as V.S International Group Limited. He also serves as a member of the Investment Panel at Lembaga Tabung Angkatan Tentera (LTAT).
Dato’ Wan Mohd Fadzmi received many accolades for his sterling career achievements, among others, including Outstanding CEO 2017 from The Association Development Financial Institution in Asia Pacific in Macau, China, CEO of the Year at the Global Islamic Finance Award 2016 in Jakarta, Indonesia, 3rd Islamic Retail Banking Awards 2017 in Dubai, UAE (awarded the Islamic Retail Banking Leadership Award), and 3G Financial Services Awards-Global Good Governance Awards (3G) 2017 by the Cambridge IF Analytica in Dubai, UAE.
He holds a Bachelor of Construction Economics from RMIT University, Australia. He has also attended the Advanced Management Program at the Wharton Business School, University of Pennsylvania, USA as well as the Senior Executive Finance Program at Templeton College, University of Oxford, UK. He is a Chartered Banker at the Asian Institute of Chartered Bankers, a Chartered Professional in Islamic Finance and a Fellow of the Institute of Corporate Directors Malaysia.
At his previous post, he was responsible for the regulation, supervision, policy-making and development of cross-border remittance, currency exchange and currency wholesale business in Malaysia. He joined BNM in 1991 and had served in various areas within the Central Bank, including bank regulation, Islamic banking and takaful as well as market development of international finance of the Labuan IBFC.
Mr. Nik Mohamed Din is the Vice Chairman of International Islamic Financial Market (IIFM). He is also Chairman of the Financial Stability Committee of Labuan FSA and a board of director of Financial Park (Labuan) Sdn. Bhd.
Besides holding a Chartered Banker certificate from the Asian Institute of Chartered Bankers, Mr. Nik Mohamed Din holds a Bachelor of Science in Economics and Accounting from the University of Bristol and a Master’s degree in Business Administration from the University of Warwick, United Kingdom.
Previously, he held senior positions at several financial institutions and served as President / CEO of Cagamas Berhad for six years before retiring in March 2012.
Mr Steven Choy graduated with a Bachelor of Commerce degree from the University of New South Wales, Australia in 1982 and holds a Master’s degree in Business Administration from Oklahoma City University, USA in 1988. He is an accredited accountant in Australia and a member of the Malaysian Institute of Accountants.
John Patrick Antonysamy
John Patrick Antonysamy has served in the Government Administrative and Diplomatic Service for the last 29 years in several roles. He served in the Ministry of Finance in the Budget Division as well as the Economics and International Relations Division. His area of work involved Malaysia’s participation in finance related areas in ASEAN, APEC and ASEM as well as international organisations such as the World Bank, IMF, ADB and WTO. Besides that, he has also served in the Tax Division and was responsible for FTA negotiations on tax issues, the WTO Trade Facilitation Agreement as well as OECD and Multilateral Tax Issues. YBrs Tuan John Patrick Antonysamy was involved in the formulation of tax incentives, examining Services Sector and Petroleum Tax Exemptions as well as representing the Ministry of Finance in the MIDA National Committee on Investments.
During his service at the Ministry of International Trade and Industry, he was the Senior Director of Strategic Planning Division responsible for planning the Industrial Masterplan. In addition to that, John Patrick Antonysamy took on the role of Lead Negotiator for Market Access under the TransPacific Partnership Agreement (TPPA) responsible for market access for goods. He has also served as Malaysia’s Chief Negotiator for ASEAN-China Free Trade Agreement (ACFTA).
John Patrick Antonysamy also served as the Deputy Director General II at the Public Private Partnership Unit under the Prime Minister’s Department. His main roles and functions include chairing the Project Steering Committee to plan, coordinate, evaluate and negotiate Public Private Partnership projects. His area of work relates to projects in the social and security sectors, involving healthcare, education, higher education, security, and land development projects.
John Patrick Antonysamy is currently the Under Secretary of Tax Division, Ministry of Finance responsible to facilitate an optimum taxation system whilst encouraging private sector investments to enhance national economic growth.
John Patrick Antonysamy holds a Degree in Math and Education. As a civil servant, he obtained a Diploma in Public Administration to expand his knowledge in the field of administration. He also pursued a Master’s Degree in International Economics.
Dr. Aida Othman
Dr. Aida specialises in Islamic banking and finance, Islamic capital market instruments and takaful products and operations. She also advises on Shariah compliance and governance, including on the legal and regulatory framework for Islamic finance.
Currently, she serves as a Shariah committee member of several Islamic financial institutions and is a member of the Islamic Finance Committee of the Bar Council Malaysia, panel arbitrator for Islamic finance or Shariah related disputes at the Asian International Arbitration Centre, member of the Society of Trust and Estate Practitioners (STEP), United Kingdom and a former member of the Technical Working Group on Ethics of the Accounting & Auditing Organization for Islamic Financial Institutions (AAOIFI), Bahrain.
Dr. Aida holds a Bachelor of Laws (First Class Honours) and Bachelor of Islamic Law (Shariah) (First Class Honours) from International Islamic University, Malaysia, Masters of Law from Cambridge University, United Kingdom. She obtained her PhD in Comparative Law & Middle Eastern Studies and Postdoctoral Fellowship at Harvard University, USA.
Datuk Nor Azimah Abdul Aziz
She has extensive experience in law reform initiatives and oversaw the passing of significant pieces of legislations under the purview of SSM, among others, the Companies Act 2016, Interest Schemes Act 2016, Limited Liability Partnership Act 2012 and Companies (Amendment) Act 2007. She is currently a Board Member of the Audit Oversight Board (AOB), Board Member for the Integrity Officer Accreditation Board (LPPIB), Board Member of the Financial Reporting Foundation (FRF), Member of the Approval and Implementation Committee of the Iskandar Regional Development Authority (IRDA), Authority Member of the Labuan Financial Services Authority (Labuan FSA) and was elected as an Executive Committee member of the Corporate Registers Forum (CRF) which is an association of international corporate registries.
She obtained her Law Degree from the Institut Teknologi MARA (now Universiti Teknologi MARA or UiTM) and her Master of Laws (LLM in Business Law) from the University of Wales, Aberystwyth, United Kingdom.
Aznan bin Abdul Aziz
Prior to his appointment as the Assistant Governor, he served in several departments including Financial Conglomerates Supervision, Governor’s Office, Islamic Banking and Takaful, Financial Sector Development, Financial Intelligence Unit, Financial Surveillance and Bank Regulation Departments.
He was previously the Chairman of the Financial Technology Enabler Group that was responsible for developing strategies and regulatory policies to facilitate the use of technology in financial services and the Assistant General Manager of Danamodal Nasional Berhad, the special purpose vehicle established to recapitalise distressed financial institutions during the 1997 Asian Financial Crisis.
Aznan holds a Degree in Economics and Accounting from the University of Bristol, England.
Salmah Bee Mohd Mydin
Salmah Bee Mohd Mydin is the Executive Director of Market Development at the Securities Commission Malaysia (SC) responsible for sustainability, corporate governance, investment product development along with the securities and derivatives development functions.
An important focus of the SC’s agenda is the development of a capital market that is inclusive and sustainable and Salmah leads a team that is responsible for formulating initiatives to enhance market efficiency, vibrancy and competitiveness. She is a board member of the Audit Oversight Board, the Finance Accreditation Agency, the Malaysian Venture Capital and Private Equity Development Council; and Penjana Kapital Sdn Bhd, an MoF Inc company.
With vast experience in investigation, intermediaries supervision, market surveillance, authorisation and licensing; and development and policy formulation, Salmah has been involved in numerous external engagements including initiatives in public sector at the national level.
She has a Bachelor of Arts (Management and Business Studies) from the University of Liverpool and a Master in Science (Public Policy and Management) from the University of London.
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Datuk Hisham bin Rusli
