Labuan FSA is governed by a board known as the Authority, whose members are appointed by the Minister of Finance for a term not exceeding three years, after which they are eligible for reappointment.

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:
Datuk Siti Zainab Omar
YBhg. Datuk Siti Zainab binti Omar is the Solicitor General ll of Malaysia. Prior to this post she was the Head of the Advisory Division at the Attorney General’s Chambers of Malaysia.

She read law and obtained an LL.B.(Hons) from the University of Essex, United Kingdom, in 1985. She was admitted to the Bar of England & Wales (Grays’s Inn) in 1986 and in 1998 she was admitted to the Malaysian Bar as an Advocate & Solicitor. YBhg. Datuk Siti Zainab started her career in the Judicial and Legal Service of Malaysia from 1987 as a Deputy Public Prosecutor in the Prosecution Division of the Attorney General’s Chambers handling criminal cases punishable with death penalty which include murder, kidnapping, firearms and drug related offences.

From there she served as a Federal Counsel and a Senior Federal Counsel in the Advisory Division of the Attorney General’s Chambers and other Ministries such as the Ministry of Energy, Telecommunication and Posts and the Ministry of Work handling privatization cases, construction cases and disciplinary cases.

She has also served as the Deputy Treasury Solicitor and Treasury Solicitor in the Ministry of Finance. In 2007 she was appointed as the State Legal Advisor of Malacca.

YBhg. Datuk Siti Zainab has wide legal experiences with emphasis on areas of constitutional law, finance and Islamic finance law, land law and contract law. In her current position she is responsible in advising the Government in many corporate, contractual, constitutional and international matters. She is also involved in many international negotiations representing the Government.

During her tenure, she was entrusted to hold special posts including directorships in governmental statutory bodies and companies such as Syarikat Perumahan Negara Berhad, Usahasama SPNB-LTAT Sdn Bhd and Sepang International Circuit Sdn Bhd. She was also appointed as one of the committee members in the Law Harmonisation Committee in Islamic Finance established by Central Bank of Malaysia. She is now a member of the Board of Retirement Fund (Incorporated) and a member of the Board of Directors of Malaysia Rail Link (MRL) Sdn. Bhd and 1Malaysia Development Berhad (1MDB).

Nik Mohamed Din Nik Musa
Mr. Nik Mohamed Din is the Director General of Labuan FSA. Prior to his appointment, Mr. Nik Mohamed Din was the Director of Money Services Business Regulation, Bank Negara Malaysia (BNM) since 2016.

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.

Dr Wong Huei Ching
Dr Wong Huei Ching, a Director at the Securities Commission Malaysia (SC) is responsible for enterprise corporate planning and strategy development for the organisation and the capital market. She has been involved in various market development initiatives ranging from facilitation of market vibrancy to greater industry digitisation efforts.

Prior to joining the SC, she was with a global management consulting firm in their strategy practice, and also worked with one of Malaysia’s largest banks. Her experience in financial services sector spans across consumer, wholesale and international banking, particularly in strategy development and transformation.

Dr Wong holds a Bachelor in Electronic and Communications Engineering and a PhD in Electrical and Electronic Engineering from the University of Bristol, UK.

Steven Choy Khai Choon

Mr Steven Choy is currently the Chairman of Zurich General Insurance (M) Bhd, Independent Non Executive Chairman of Zurich Life Insurance Malaysia Bhd, Deputy Chairman and member of the Audit Committee and Nomination & Remuneration Committee of Deutsche Bank Malaysia Bhd. He serves on the Board of Hap Seng Plantations Holdings Bhd, Bond and Sukuk Information Platform Sdn Bhd and Asian Banking School Sdn Bhd. Mr. Choy is also the Independent Director and Risk & Audit Committee Chairman of Malaysia Marine & Heavy Engineering Bhd and MSM Malaysia Holdings Bhd, as well as a Public Interest Director at the Federation of Investment Managers Malaysia.

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 a Fellow of CPA Australia and a member of the Malaysian Institute of Accountants.

Datuk Nor Azimah Abdul Aziz

Datuk Nor Azimah Abdul Aziz is the Chief Executive Officer (CEO) of the Companies Commission of Malaysia (SSM). Prior to her appointment as CEO on 1 May 2020, she was the Deputy Chief Executive Officer (DCEO) of Regulatory & Enforcement and thereafter, DCEO of Corporate Services between 2016 and 2020. She started her career in 1992 as an Advocate and Solicitor and from there on served as a Law Lecturer at the Accounting Department, Faculty of Business and Management, Universiti Kebangsaan Malaysia (UKM). During her tenure with UKM, in July 2000, she was seconded to the Regulatory and Standards Department of the Malaysian Institute of Accountants (MIA). She joined SSM as General Manager of the Corporate Policy, Planning and Development Department in 2003.

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 Certification of Certified Integrity Officers (CEIO), Board Member of the Financial Reporting Foundation (FRF), Member of the Approval and Implementation Committee of the Iskandar Regional Development Authority (IRDA) as well as Board Member of the Labuan Financial Services Authority (Labuan FSA).

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 Abdul Aziz

Aznan Abdul Aziz is the Assistant Governor of Bank Negara Malaysia who is responsible for the Payments Services Oversight, Financial Conglomerates Supervision, Banking Supervision, Insurance and Takaful Supervision as well as Risk Specialist and Technology Supervision Departments.

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.

Abu Tariq Jamaluddin

Mr. Abu Tariq is the Deputy Chief Executive Officer (Compliance) of the Inland Revenue Board of Malaysia (IRBM) where he is responsible for supervising the tax audit, investigation and profiling activities undertaken by IRBM.

Prior to his current post, he was the Deputy Chief Executive Officer (Policy) of IRBM and was actively involved in tax policy making and international taxation matters. He has represented Malaysia in various international meetings and was the head of the Digital Economy Committee, a committee responsible to make recommendations to the government based on OECD’s Two Pillar Solution to Address the Tax Challenges from the Digitalisation of the Economy. He was also previously the Chairman of the Drafting Committee, a committee in charge of drafting the law to cater for Malaysia’s annual national budget of which he has been a permanent member since 1997.

Mr. Abu Tariq has also more than 25 years of experience in advisory, litigation and drafting work in all aspects of tax and revenue law and has represented the Director General of Inland Revenue before the Special Commissioners of Income Tax and at all levels of the Malaysian Courts in many landmark tax cases. He is also a speaker and permanent panel on tax cases at the largest annual conference on taxation in Malaysia, the National Tax Conference as well as various other tax conferences and seminars at national and international levels.

Mr. Abu Tariq holds a Bachelor of Laws (Honors) from the University of Malaya and was admitted as an advocate and solicitor of the High Court of Malaya in 1995.

Dr. Aida Othman

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