Malaysia Development Bank (BPMB) or Bank Pembangunan Malaysia Berhad has announced the appointment of Datuk Muzaffar Hisham as its new group chief executive officer, effective Sunday, 18 May 2025.
With over two decades of experience in regional banking, Datuk Muzaffar brings extensive leadership expertise across wholesale and retail banking, investment banking, treasury, asset management, and client coverage.
In a statement, BPMB chairman Datuk Sulaiman Mohd Tahir welcomed the new CEO, saying, “We are pleased to welcome Datuk Muzaffar Hisham to BPMB. His proven leadership and deep understanding of the financial services landscape, both locally and regionally, will be instrumental in driving BPMB’s strategic direction. We are confident that under his stewardship, BPMB will continue to play a pivotal role in driving Malaysia’s national development agenda and delivering long-term value for our stakeholders.”
Prior to this appointment, Datuk Muzaffar was group CEO of Maybank Islamic Banking, where he was instrumental in expanding the bank’s Islamic financial services footprint and spearheading innovation in digital solutions and wealth management.
He expressed enthusiasm for the role, stating, “It is an honour to join BPMB at this important juncture. I look forward to working closely with the Board, management, and stakeholders to build on the Bank’s strong foundation.
“Together, we will strengthen BPMB’s role as a key development financial institution, dedicated to supporting Malaysia’s socio-economic progress and sustainability ambitions. I am committed to leading our efforts in delivering impact capital for national development,” continued Datuk Muzaffar.
BPMB, a wholly owned entity under the Minister of Finance (Incorporated), holds the highest ‘AAA’ credit rating from both RAM Rating Services and Malaysia Rating Corporation. As of 31 December 2023, its Group Total Assets stood at RM29.0 billion. Following a recent consolidation effective 1 May 2025, EXIM Bank and SME Bank have become BPMB subsidiaries, further expanding the institution’s reach and capabilities in supporting the nation’s development goals. 