KUALA LUMPUR: Malaysia Building Society Bhd (MBSB) group president and chief executive officer Datuk Seri Ahmad Zaini Othman has passed away after battling with Covid-19 complications.
He was 64 years old.
MBSB, in a statement today, said Ahmad Zaini took his last breath early this morning at 1:46am at KPJ Selangor Specialist Hospital.
"The visionary leader carried four decades of banking experience and was appointed to helm MBSB (financial holding company of MBSB Bank Bhd) on February 26 2009," it added.
As an interim measure, Datuk Nor Azam M Taib, currently the deputy CEO, would be the acting president and CEO, the company said.
"This is a tremendous loss not only to 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," MBSB chairman Tan Sri Azlan Zainol said.
Under his leadership, he has transformed a non-bank financial institution by restructuring and turning around its financial standing into a profitable organisation.
MBSB said Ahmad Zaini had successfully concluded the merger deal between MBSB and Asian Finance Bank.
The merger, which was also granted an acquisition approval, that made it possible for MBSB to fully own MBSB Bank Bhd, in 2018.
Ahmad Zaini also converted a conventional non-bank financial institution into a full-fledged Islamic bank.
Today, MBSB Bank stood as the country's second full-fledged Islamic bank, the company said.