1 May 2025: Labuan Financial Services Authority (Labuan FSA) is pleased to announce the appointment of Mr. Affendi Rashdi as Director General of Labuan FSA by the Minister of Finance II, for a two-year term effective from 1 May 2025 to 30 April 2027.

Mr. Affendi, from Bank Negara Malaysia (BNM), most recently served as the Chief Services Officer, where he led the strategic vision and execution of the Bank’s Centralised Shared Services sector to ensure institutional excellence and the efficient delivery of services. Over the course of his career at BNM, Mr. Affendi held several pivotal roles, including Director of the Finance Department, Deputy Director and Manager of the Development Finance and Inclusion Department, as well as a core member of the Financial Sector Blueprint team. He also contributed significantly as a Board member of various BNM trust funds, including the Medical Trust Fund, INCEIF Trust Fund, Asian School of Business Trust Fund, and the Tun Ismail Ali Chair Trust Fund.

Throughout his distinguished career, Mr. Affendi has been instrumental in the development of financial sector policies and regulatory frameworks, particularly in strengthening the role of Development Financial Institutions. His notable contributions include the review and enhancement of the Development Financial Institutions Act (DFIA) 2012, the corporatisation of Agrobank, the establishment of SME Bank, and the formation of the Cooperatives Commission of Malaysia as a regulatory body. He also made efforts in shaping central bank accounting best practices and provided strategic financial, tax, and treasury advisory to BNM’s management and Board. In addition, he played a key role in shared services strategy covering procurement, facilities management, administration, and security.

Mr. Affendi holds a Master’s degree from Harvard University and a Bachelor of Accountancy from Universiti Teknologi MARA (UiTM). He is a member of the Institute of Chartered Accountants in England and Wales (ICAEW), a Fellow of the Association of Chartered Certified Accountants (FCCA), a Chartered Accountant with the Malaysian Institute of Certified Public Accountants (MICPA), and a member of the Malaysian Institute of Accountants (MIA). He is also a Chartered Banker, certified by the Asian Institute of Chartered Bankers (AICB).

The Board of Authority extends its appreciation to Mr. Nik Mohamed Din Nik Musa, who completed his four-year tenure on 30 April 2025, during which the Labuan IBFC recorded notable development and growth. With the appointment of Mr. Affendi Rashdi as the new Director-General, Labuan FSA is confident the Centre will continue to innovate and grow, building upon its success and further strengthening its position as a preferred financial centre in Asia.


Labuan Financial Services Authority
1 May 2025