Association of Islamic Banking Institutions Malaysia

LOFSA Extends Azizan's Term As DG

Friday, 03 July 2009

KUALA LUMPUR, Labuan Offshore Financial Services Authority (Lofsa) has extended Datuk Azizan Abd Rahman's tenure as its director-general (DG) for another two years with effect from July 2009.

In a statement here Thursday, Lofsa said Azizan has held the position since July 2005. Azizan began his career in Bank Negara Malaysia in 1979.

Currently, he is a board member and chairman of the audit committee of Labuan Corporation and an exco member of Malaysia International Islamic Financial Centre.

He has a bachelor's degree (honours) in accounting from University of Malaya and master's degree in business administration from University of Queensland, Australia.

He is a member of CPA (Australia) and a chartered accountant, Malaysian Institute of Accountants.

Lofsa said as DG, Azizan has overseen the realisation of several key initiatives to position Labuan as a premier international business and financial centre.

"These included the rebranding of Labuan in January 2008 as Labuan International Business and Financial Centre (IBFC), establishment of a separate entity that undertakes the promotion and marketing of Labuan IBFC, and the flexibility of co-location for Labuan holding companies in Kuala Lumpur as part of the national financial liberalisation measures.

"Under Azizan's helm, Lofsa has also undertaken a holistic review of the legislative framework designed to create a flexible, facilitative and frictionless business environment in Labuan IBFC," it said.

Lofsa said the reappointment of Azizan would undoubtedly provide continuity in the effort to develop Labuan into a premier international business and financial centre in the region.

-- BERNAMA