MBSB's CEO Ahmad Zaini dies of Covid-19

KUALA LUMPUR (Aug 15): Malaysia Building Society Bhd's (MBSB) group president and chief executive officer (CEO) Datuk Seri Ahmad Zaini Othman has passed away after battling with Covid-19 complications.

"He took his last breath early this morning (Aug 15) at 1.46am at KPJ Selangor Specialist Hospital. He was 64 years old," said MBSB in a statement.

Ahmad Zaini was known for his contribution to have converted MBSB, a conventional non-bank financial institution, into a full-fledged Islamic bank. Today, MBSB Bank stands as the country's second full-fledged Islamic bank.

"Under his leadership, he has transformed a non-bank financial institution by restructuring and turning around its financial standing into a profitable organisation. He successfully concluded the merger deal between MBSB and Asian Finance Bank," said MBSB in the statement.

MBSB said Ahmad Zaini, a visionary leader, carried four decades of banking experience and was appointed to helm MBSB, which is the parent company of MBSB Bank Bhd, on Feb 26, 2009.

"This is a tremendous loss not only to the MBSB group, but also the banking industry. Datuk Seri Ahmad Zaini was an outstanding man with a big heart.

"He has touched the lives of so many and his hard work will never be forgotten. He was instrumental to the improvement of the bank through his business initiatives which comes from his excellent business acumen. He was a visionary and we will miss him dearly," said MBSB's chairman Tan Sri Azlan Zainol.

As an interim measure, Datuk Nor Azam M Taib who is currently the deputy CEO will be the acting president and CEO of MBSB and the group of companies.

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