KUALA LUMPUR – Danajamin Nasional Berhad, the country’s Financial Guarantee Insurer, announced today the appointment of Dato’ Mohamed Hussein as its new non-executive Chairman effective 5 August 2013. He succeeds Dato’ Sri Abdul Hamidy Hafiz who had served as Chairman since Danajamin was established in 2009.
Having been a Board member since 2009, Dato’ Mohamed’s appointment will provide Danajamin with continuity to fulfil its mandate of providing companies with access to the bond market.
Dato Mohamed said, “I am honoured and privileged to be entrusted with the responsibility of working with the Board and Management of Danajamin to take it to its next phase of development." Dato Mohammed is a seasoned banker. He spent 31 years with the Maybank Group, was part of the Maybank senior management team for 20 years, and held various senior management positions including Head of Corporate Banking, Head of Commercial Banking, Head of Malaysian Operations, Chief Executive Officer of Aseambankers Malaysia Berhad (now renamed "Maybank Investment Bank") and Executive Director. Prior to his retirement in January 2008, he was the Deputy President/Chief Financial Officer.
Dato Mohammed currently sits on the board of several listed and non-listed companies in Malaysia and Singapore. He is also a member of the Corporate Debt Restructuring Committee of Bank Negara Malaysia.
Dato’ Mohammed holds a Bachelor of Commerce degree majoring in Accounting from the University of Newcastle, New South Wales, Australia. He is also an alumnus of the Advance Management Program, Harvard Business School, Boston, USA.
Danajamin, the country’s first and only Financial Guarantee Insurer, was established by the Government to be a catalyst to stimulate and further develop the domestic bond and sukuk market. Danajamin’s objective is to provide financial guarantee, a credit enhancement, to bond/sukuk issuances to help viable companies raise long-term fixed rate financing from the bond/sukuk market. The bond/sukuk market is an important alternative source of financing, as it complements the banking sector. Its continuous development is critical in ensuring that Malaysian companies have several funding sources to finance their business expansion and investments.
A AAA-rated company, Danajamin is jointly owned by Minister of Finance Incorporated (50%) and Credit Guarantee Corporation Malaysia Berhad (50%). It has a paid-up capital of RM1 billion with another RM1 billion callable capital. Danajamin is licensed under the Insurance Act 1996, and is regulated and supervised by Bank Negara Malaysia.
For more information about Danajamin, its services as well as its leadership, kindly visit our website www.danajamin.com
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Sharie Elina Ibrahim
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