Authority Members
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:
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:
Nik Mohamed Din Nik Musa
Mr. Nik Mohamed Din is the Director General of Labuan Financial Services Authority (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, United Kingdom.
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.
Dr Wong Huei Ching
Dr. Wong Huei Ching is an Executive Director at the Malaysia Securities Commission (SC). She leads the Digital Strategy and Innovation division, overseeing the Innovation, Digital Strategy, Analytics, Cyber Security and Technology departments.
Her appointment serves to further the potential of digital and innovation in the area of alternative fundraising and investments, towards shaping a capital market that is more inclusive and sustainable for businesses and investors.
Dr. Wong joined the SC in 2017 and has been involved in various market development initiatives ranging from facilitation of market vibrancy to greater industry digitisation efforts. She was also instrumental in the development of the recently launched Capital Market Masterplan 3.
Dr. Wong is currently a member of the Labuan Financial Services Authority as appointed by the Minister of Finance.
Prior to joining the Securities Commission, she was with a global management consulting firm as part of their strategy practice, and one of Malaysia’s largest bank. 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, United Kingdom.
Her appointment serves to further the potential of digital and innovation in the area of alternative fundraising and investments, towards shaping a capital market that is more inclusive and sustainable for businesses and investors.
Dr. Wong joined the SC in 2017 and has been involved in various market development initiatives ranging from facilitation of market vibrancy to greater industry digitisation efforts. She was also instrumental in the development of the recently launched Capital Market Masterplan 3.
Dr. Wong is currently a member of the Labuan Financial Services Authority as appointed by the Minister of Finance.
Prior to joining the Securities Commission, she was with a global management consulting firm as part of their strategy practice, and one of Malaysia’s largest bank. 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, United Kingdom.
Nor Hazlina Ab. Aziz
Ms. Nor Hazlina Ab. Aziz has served in the civil service for more than 20 years. Currently, she is the Section Head of the Governance Valuation Section of the Strategic Financial Control and Corporate Division, Ministry of Finance Malaysia. Earlier, her works involved regional cooperation in financial matters pertaining to ASEAN, ASEAN+3 and ASEM under the International Division.
Previously, she has served in various government agencies including portfolios under the Ministry of Health and the Public Service Department.
Ms. Nor Hazlina holds a Bachelor of Business Administration (Finance) from the Northern University of Malaysia and a Master of Public Policy (Governance) from Meiji University, Tokyo, Japan.
Previously, she has served in various government agencies including portfolios under the Ministry of Health and the Public Service Department.
Ms. Nor Hazlina holds a Bachelor of Business Administration (Finance) from the Northern University of Malaysia and a Master of Public Policy (Governance) from Meiji University, Tokyo, Japan.
Steven Choy Khai Choon
Mr. Steven Choy Khai Choon is currently the Non-Independent Non-Executive Chairman of Zurich General Insurance (M) Bhd. and Non-Independent Non-Executive Chairman of Zurich Life Insurance 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 an Independent Non-Executive Director and the Audit, Governance & Risk Committee Chairman of MSM Malaysia Holdings Bhd. Additionally, he is a Non-Independent Non-Executive Director of Kenanga Investment Bank Berhad.
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. 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.
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. 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 joined SSM as General Manager of the Corporate Policy, Planning and Development Department in 2003. 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 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.
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 Abdul Aziz
Mr. 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.
Mr. Aznan holds a Degree in Economics and Accounting from the University of Bristol, United Kingdom.
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.
Mr. Aznan holds a Degree in Economics and Accounting from the University of Bristol, United Kingdom.
Datuk Abu Tariq Jamaluddin
Datuk Abu Tariq Jamaluddin 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.
Datuk 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.
Datuk 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.
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.
Datuk 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.
Datuk 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
Dr. Aida Othman is a Partner at Messrs.Zaid Ibrahim & Co. and the Shariah advisor at ZICO Shariah Advisory Services Sdn Bhd.
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.
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.
