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.

Adnan Zaylani Mohamad Zahid
Mr. Adnan Zaylani is the Assistant Governor of Bank Negara Malaysia who is responsible for development of the financial insurance sectors, development finance, Islamic finance and oversees the Legal department and previously had held responsibilities and oversight over financial markets, investment, foreign exchange administration and currency management. 

Economics by training with years of financial market practitioner experience and contributions in various policy and development initiatives. He is a member of the Management Committee, Strategic Management Committee and Reserve Management Committee of Bank Negara Malaysia. 

Mr. Adnan has a Bachelor in Economics, MSc in Global Market Economics from London School of Economics, UK, and a holds Master Degree in Public Policy from Blavatnik School of Government, University of Oxford, UK.
Datuk Dr Mohd Daud Bakar
Datuk Dr Mohd Daud Bakar is the Founder and Group Chairman of Amanie Advisors and Founder and Chairman of Amanie Nexus Sdn Bhd. He is currently the Chairman of the Shariah Advisory Council of the Central Bank of Malaysia, the Shariah Advisory Council of Securities Commission Malaysia and the Shariah Supervisory Council of Labuan Financial Services Authority.

Datuk Dr Mohd Daud is also a member of the Shariah Board of Dow Jones Islamic Market Index (New York), The National Bank of Oman, Financial Guidance (USA), BNP Paribas (Bahrain), Morgan Stanley (Dubai), Bank of London and Middle East (London), Noor Islamic Bank (Dubai), Islamic Bank of Asia (Singapore).

Currently, he is the Adjunct Professor (Islamic Finance) for the Asia Graduate School of Business of UNITAR International University and Adjunct Professor for the Islamic Business School of Universiti Utara Malaysia. Prior to this, he was the Deputy Vice-Chancellor at the International Islamic University Malaysia.

Datuk Dr Mohd Daud received his first degree in Shariah from the University of Kuwait, a Bachelor of Jurisprudence from the University of Malaya, and obtained his PhD from the University of St Andrews, UK.
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.

Goh Ka Im

Ms. Goh was a partner and the Head of the Tax and Revenue Practice Group as well as the Head of the Private Wealth and Family Business Practice Group of Shearn Delamore & Co until her retirement at the end of 2020.

Ms. Goh was also previously the Jurisdiction Editor of Malaysia (Labuan) for the International Tax Planning Association (ITPA) and the Chair of the Tax Committee of the Inter Pacific Bar Association (IPBA).

Ms. Goh who became a partner of Shearn Delamore & Co in 1997, has an LL.B (Hons) degree from the University of Bristol, UK and was called to the Bar of England and Wales as a member of Gray’s Inn. She was admitted as an advocate and solicitor of the High Court of Malaya in 1988 and the Supreme Court of Singapore in 1994.

Adawiyah Ahdan

Ms. Adawiyah Ahdan is the Head of Loan Management and Monitoring Unit under the Strategic Investment Division of the Ministry of Finance Malaysia.

Previously, she has served in various government agencies including portfolios under Ministry of International Trade and Industry, Department of National Training Services and the Ministry of Tourism.

Ms. Adawiyah holds a Diploma in Banking from Universiti Teknologi MARA, a bachelor's degree in International Business from UiTM. She obtained an International Master's Degree through the Asia-Europe small and medium enterprise institute program, University of Malaya.

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.

Dato' Raja Segaran S Krishnan

Dato’ Raj Krishnan is an Advocate and Solicitor of the High Court of Malaya, and is a member of the Malaysian Bar, specialising in cross border personal and corporate ownership, business and personal succession planning and asset protection structures. He was the Director of the Financial Services Institute (FSI) of the British Virgin Islands (BVIs), and a Director and an approved Trust Officer of Labuan Borneo Trustees Limited, a licensed Labuan Trust Company.

Dato’ Krishnan is a Senior Consultant with GRC Advantage Pty Ltd, (governance, risk and compliance consulting company based in Australia), and is currently serving on the Boards of HWGG Capital Ltd (a licensed digital asset company in Labuan) and Pronumeris Training Centre Ltd (Mauritius). He is a Committee Member of the Disciplinary Panel, Society of Trust and Estate Practitioners (STEP) Worldwide and is an Adviser of Family Trust Legal Affairs Centre (FLTAC) of King & Capital Law Firm, Beijing, China. He is also a Visiting Lecturer (Law and International Financial Services) at Nankai University, Tianjin, Beijing, China.

Dato’ Krishnan holds a Bachelor of Economics from the National University of Malaysia, a Bachelor of Law and Masters in Law (Advance Company Law) with Merit from the University of London. He has also successfully completed the Certificate of Legal Practice from the Legal Qualifying Board Malaysia and holds a Diploma in Education, and is a professional member of the General Teaching Council of Scotland (GTCS). He also holds a STEP Diploma in International Trust Management, STEP Advanced Certificate in Family Business Advising, STEP Advanced Certificate in Trust Disputes and a Diploma in International Compliance (International Compliance Association, UK). Dato’ Krishnan is a full member of STEP Glasgow, Scotland and a Fellow of the International Compliance Association, UK.
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