13 November 2025, Labuan: Labuan Financial Services Authority (Labuan FSA) wishes to announce that the Minister of Finance II has appointed Datuk Ahmad Hizzad bin Baharuddin as the Chairman of Labuan FSA for a two-year term effective November 15, 2025 to November 14, 2027.

Datuk Hizzad is currently the Chairman of FWD Takaful Berhad and KAF Digital Bank Berhad, as well as a Member of the Board of Directors of Small Medium Enterprise Development Bank Malaysia Berhad. His current roles build upon a distinguished career spanning over 32 years with Bank Negara Malaysia (BNM), where he held various key positions across several departments, including Islamic Banking and Takaful, Financial Sector Development, as well as Payment Systems and Instruments. He served as the Assistant Governor of BNM from 2014 until his retirement in 2018.

Over the course of his career, Datuk Hizzad also held several prominent leadership roles, including Chairman of Payments Network Malaysia Sdn Bhd (PayNet) and Mizuho Bank (Malaysia) Berhad. He was also the Director General of the Labuan FSA from 2011 to 2017.

Datuk Hizzad holds a Master of Business Administration degree from St. Louis University, Missouri and a Bachelor of Business Studies degree from Eastern Illinois University, Illinois, both in the United States.

In welcoming Datuk Hizzad’s appointment, Affendi Rashdi, Director General of Labuan FSA said, “Datuk Hizzad’s extensive experience at BNM, coupled with his leadership as the former Director General of Labuan FSA, provides him with a deep understanding of the Labuan IBFC financial industry. His breadth of knowledge and experience makes him highly suited to serve as the Chairman of Labuan FSA. The Management of Labuan FSA looks forward to his guidance and leadership as we continue advancing the Labuan IBFC’s growth and development agenda.”

The Authority of Labuan FSA extends its appreciation to Dato’ Wan Mohd Fadzmi Bin Che Wan Othman Fadzilah, the former Chairman who had retired in 2024, for his dedicated leadership and invaluable contributions throughout his tenure with Labuan FSA.


Labuan Financial Services Authority
13 November 2025