Entrepreneur development and cooperatives minister Ewon Benedick said the appointment was based on the high commitment and dedication Shahril had shown during his tenure as acting CEO since Nov 9, 2024.

Ewon said Shahril has more than 26 years of experience in the country’s banking and finance industry, including at Bank Negara Malaysia.

“With extensive experience in the banking and finance industry, the ministry is confident he will be able to steer and carry out all the tasks entrusted to him,” Ewon said in a statement.

Bank Rakyat chairman Irwan Mubarak said the board of directors and management committee as well as the entire Bank Rakyat staff welcomed Shahril’s appointment.

“We are positive and optimistic that Bank Rakyat under his leadership will continue to maintain its mandate to help drive the country’s economic growth as a progressive and competitive development financial institution,” he said.