Surprise resignation of two bosses at Labuan financial regulator

Surprise resignation of two bosses at Labuan financial regulator

The director-general and the chairman of the Labuan Financial Services Authority have both resigned.

Danial Mah Abdullah and Azizan Abdul Rahman have resigned from the Labuan Financial Services Authority.
LABUAN:
The director-general of the Labuan Financial Services Authority, Danial Mah Abdullah, has resigned, cutting short his second term at the central regulatory, supervisory and enforcement authority of the international business and financial services industry in Labuan.

His resignation took effect on April 9 and was followed by the resignation today of the chairman, Azizan Abdul Rahman.

Labuan FSA is a statutory body under the finance ministry and is responsible for the development and administration of the Labuan International Business and Financial Centre.

Labuan FSA, in its short notification circulated to all the industry players through association members, stated that deputy director-general Iskandar Mohd Nuli will assume the duties of director-general until a new person is named.

Danial was one of the pioneers in the Labuan FSA (the then Labuan Offshore Financial Services Authority) since 1997 and was the deputy director-general and appointed as director-general in 2017 for a three-year term until 2020 and was extended for another three-year term.

Azizan who was the director-general of Labuan FSA (retired in 2011), was appointed as the chairman from Nov 1, 2020 to Oct 31, 2023.

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