Financial Stability Committee

Overview

The Financial Stability Committee (FSC) was set up to assist the Authority in preserving financial stability and integrity of Labuan IBFC. The committee members are appointed by the Chairman of Labuan FSA and comprises at least four members.

The FSC members:

Director General
Labuan Financial Services Authority
Affendi Rashdi (Chairman)
Director General
Labuan Financial Services Authority
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).
Deputy Director General
Regulatory Oversight & Technology
Labuan Financial Services Authority
Syahrul Imran Mahadzir
Deputy Director General
Regulatory Oversight & Technology
Labuan Financial Services Authority
Coming soon.
Director
Financial Conglomerates Supervision Department
Bank Negara Malaysia
Hong Chin Pheng
Director
Financial Conglomerates Supervision Department
Bank Negara Malaysia
Coming soon.
Director
Financial Surveillance Department
Bank Negara Malaysia
Endran bin Fadzil
Director
Financial Surveillance Department
Bank Negara Malaysia
Coming soon.
Director
Supervision Department
Securities Commission Malaysia
Shamim Fyaz Hajamaideen
Director
Supervision Department
Securities Commission Malaysia
Coming soon.

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