CGC appoints Suhaimi Ali as non-independent nonexecutive director

KUALA LUMPUR: Credit Guarantee Corporation Malaysia Bhd (CGC) has appointed Bank Negara Malaysia (BNM) Assistant Governor Suhaimi Ali as its new non-independent nonexecutive director, effective April 28, 2022.

CGC said as BNM assistant governor, Suhaimi is currently responsible for the financial development and innovation, Islamic finance, and financial inclusion departments of the central bank.

“He has served BNM for 24 years in various areas, which include financial sector development, regulation and supervision, strategic planning, market conduct, international negotiations and information technology (IT) services, as well as in the governor’s office,” it said in a statement yesterday.

CGC said Suhaimi is a member of BNM’s management committee, risk management committee, crisis management committee, digital technology committee, financial development committee, financial stability committee, joint policy committee, and reserve management committee.

“He is also a member of the board of trustees for the International Centre for Leadership in Finance (ICLIF) Trust Fund,” it said.

Suhaimi joined BNM in 1998 after graduating with a degree in accounting from the University of Notre Dame, the United States, it added.

Meanwhile, CGC accorded its appreciation to BNM Assistant Governor Adnan Zaylani Mohamad Zahid, who resigned as a non-independent nonexecutive director of CGC on April 19, 2022.

“Adnan Zaylani joined the board of CGC on Oct 18, 2018, bringing with him 28 years of stellar experience in investment operations and financial markets at BNM to the betterment of CGC,” it said.

CGC is 78.65 per cent owned by BNM and 21.35 per cent by the commercial banks in Malaysia.

It aims to assist micro, small, and medium size enterprises (MSMEs) with inadequate or without collateral and track records to obtain credit facilities from financial institutions by providing guarantee cover on such facilities. — Bernama