PIDM announces appointment of Rafiz Azuan Abdullah as Chief Executive Officer

Kuala Lumpur, 3 August 2017: Perbadanan Insurans Deposit Malaysia (PIDM) today announced the appointment of Rafiz Azuan Abdullah as its Chief Executive Officer (CEO) with effect from 28 August 2017.

“I am pleased that the Minister of Finance, on the recommendation of the Board of Directors, has appointed Rafiz as CEO,” said Tan Sri Datuk Dr. Abdul Samad Alias, Chairman of PIDM.

“His appointment is the culmination of our Board-led CEO succession planning process which commenced in 2013. This process provides for a smooth leadership transition which is key in maintaining a strong management team. The Board is confident that Rafiz will take up the mantle of leadership and continue to advance PIDM,” added Tan Sri Samad.

Rafiz will succeed Jean Pierre Sabourin, the founding CEO who retires on 27 August 2017 after 12 years of exemplary service.

Rafiz has served PIDM since 2007 and is currently the Executive General Manager. Prior to this role, he held the position of General Manager, Insurance, Risk Assessment and Monitoring Division. Under his leadership, the Corporation developed and implemented its Risk Assessment System and the Differential Levy Systems for insurer members.

On the international front, Rafiz is a member of the Executive Committee of the International Association of Deposit Insurers (IADI). He is also the Chairman of IADI’s Islamic Deposit Insurance Group which focuses on the development of core principles for effective Islamic deposit insurance systems.

Prior to joining PIDM, Rafiz spent 10 years with Rating Agency Malaysia (RAM), specialising in ratings of financial institutions, real estate, and plantation and construction companies.

Rafiz graduated from Lancaster University, United Kingdom in 1995 majoring in Accounting and Finance. He then pursued a professional accounting qualification (Association of Chartered Certified Accountants – ACCA) at Emile Woolf College in London, United Kingdom.


For more information about this press release, kindly contact:

Syed Mohammed Idid, General Manager, Communications and Public Affairs Division
(Tel: 03-2173 7455; 012-3430848; Email:

Mimi Rashid, Senior Manager, Communications and Public Affairs Division
(Tel: 03-2173 7570; Email:


PIDM is a statutory body that provides protection against the loss of deposits and insurance or takaful benefits with its member institutions in the event of failure. PIDM is entirely funded by premiums or levies assessed on its member institutions and does not receive public funds to operate. It has the means under the PIDM Act to borrow or raise such funds as may be needed to fulfil its statutory obligations to protect financial consumers of its member institutions. As an integral part of the national financial safety net, the Corporation promotes and contributes to the stability of the financial system.

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