Friday, 9 March 2012

SC chairman Zarinah to retire end-March

KUALA LUMPUR (March 9): Tan Sri Zarinah Anwar will retire as chairman of the Securities Commission when her term ends on March 31, 2012.

A statement from the SC on Friday said Zarinah, who has been the chairman since 2006, will be succeeded by Datuk Ranjit Ajit Singh.

“Datuk Seri Najib Tun Abdul Razak, Prime Minister and Minister of Finance has appointed Datuk Ranjit Ajit Singh to succeed Tan Sri Zarinah as chairman of the SC and Datuk Dr Nik Ramlah Mahmood as deputy chief executive. Both currently serve as managing directors of the SC and their new appointments take effect from April 1, 2012,” it said.

Zarinah, the SC said, has played a key role in strengthening and developing the Malaysian capital market over the past 10 years, “establishing a robust regulatory and governance framework which has contributed to the growth of the market, and investing resources in building regulatory capacity”.

The SC described Ranjit as a highly experienced regulator with over 20 years experience in the field of finance and securities regulation.

Ranjit, a financial economist and accountant, has served the SC since 1994 in several areas including the supervision and oversight of the market; strategy and risk management, financial policy and economics.

He is also an executive director in charge of market oversight at the SC. He is the chairman of International Organisation of Securities Commissions’ group on secondary markets.

Ranjit has chaired an expert group on capital markets for a Financial Stability Board taskforce and has served as a member of the IMF’s expert group on governance of public sector agencies.

The SC said Nik Ramlah, who is trained in law, served the SC for over 18 years, in areas including legal and regulatory reform, product and market development, corporate governance, Islamic capital market, investor education and enforcement.

Nik Ramlah is an executive director in charge of enforcement.

She also sits on the board of the Securities Industries Development Corporation, which is the regulator’s training and education arm.

Nik Ramlah is a core member of the OECD Asian Roundtable on Corporate Governance and is a member of the Technical Committee of the Islamic Financial Services Board (IFSB).

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