Board Member, International Centre for Education in Islamic Finance (INCEIF)
Tan Sri Azman Mokhtar was the Managing Director of Khazanah Nasional Berhad (“Khazanah”), Malaysia’s strategic investment fund from June 2004 to July 2018. Upon retirement from Khazanah, he has been actve in various public service, academic and commercial institutions. Among his current and recent affiliations include as the Chairman of the Board of Directors of Universiti Teknologi Malaysia (UTM), Distinguished Visiting Fellow at the Centre of Development Studies, University of Cambridge (February 2019 to February 2021), Bye-Fellow of Darwin College, University of Cambridge, an Adjunct Professor at UTM, a board member of INCEIF (The International Centre for Education in Islamic Finance, in Malaysia) and a trustee of the Wawasan Education Foundation in Penang, Malaysia. His research interest is in the area of Finance and its impact on Society.
In January and April 2021 respectively, he was appointed by the Prime Minister of Malaysia to two high-level national councils chaired by the Prime Minister, namely as a member of the Majlis Kemakmuran Bumiputera (Bumiputera Prosperity Council) and a member of the Majlis Tindakan Kemakmuran Bersama (Shared Prosperity Action Council). Azman is also a board member of MERCY Malaysia, a leading international humanitarian relief organization headquartered in Kuala Lumpur. His international affiliations currently include as a member of the Global Future Council on Investing of the World Economic Forum (Davos), a member of the Steering Committee of the Global Ethical Finance Forum Edinburgh, a member of the Finance and Investment Committee of the Oxford Centre for Islamic Studies, a board member of VB Asset Management LLC, a Venture Capital Fund investing in Life Sciences in the United States and an Advisor to The Hive. IV, a Silicon Valley based Technology Venture Capital fund. In early 2020, he co-founded Fitrah Capital Associates, a financial and strategy advisory firm incorporated in the United Arab Emirates. He is also a board member of MyKar Berhad, a homegrown Malaysian-developed electric car vehicle company.
During the 14-year period as Khazanah’s Managing Director and CEO, the institution established itself as a leading sovereign fund in the region as its net portfolio value rose 3.5x from RM33.3bn in 2004 to RM115.6bn at the end of 2017, an increase of RM82.3bn or a compounded rate of 9.6% p.a. over the period. During this tenure, Azman, among others, spearheaded the GLC (Government-Linked Companies) 10-Year Transformation Program from 2005 to 2015, the development of the Iskandar Malaysia special economic development zone, the internationalization of Khazanah and its companies into China, India, South East Asia, Turkey, Middle East and Europe and North America, and investing into new growth sectors, notably in financial services, telecommunications, infrastructure, healthcare and technology.
Azman also founded, chaired and served on various boards of companies and national public interest bodies, including Axiata Group Berhad and Iskandar Investment Berhad. He also drove the creation of IHH Healthcare Bhd, which is today, one of the largest listed hospital healthcare groups in the world. Prior to Khazanah, he co-founded a boutique financial advisory, BinaFikir Sdn Bhd, and prior to that was the Head of Research at Union Bank of Switzerland (“UBS”), Malaysia and Salomon Smith Barney, Malaysia. He started his career at Malaysia’s national utility, Tenaga Nasional Berhad.
In addition to its core work of investing and portfolio management, Khazanah is recognized as a leading proponent of, inter alia, Impact and Responsible Investing, Corporate Governance, Islamic and Sustainable Finance, Human Capital Development, and Corporate Social Responsibility by implementing a holistic framework of “Building True Value” from a financial, economic and societal value creation standpoint. In this regard, during his tenure, Azman founded several notable institutions and practices, including Yayasan Hasanah, Yayasan Khazanah, Khazanah Research Institute, the Khazanah Megatrends Forum, the Trust School Program, Kembara Khazanah, Think City, Amanah Warisan Negara and Taman Tugu Park.
Azman obtained a M. Phil in Development Studies (with distinction) from Darwin College, Cambridge University, as a Chevening scholar, and a Diploma in Islamic Studies from International Islamic University Malaysia. In 2018, he was conferred an Honorary Doctor of Letters from Wawasan Open University, Malaysia. He is also a CFA Charter Holder and a Fellow of the Association of Chartered and Certified Accountants (ACCA).
Among the professional accolades received were Chairman of the Year in Malaysia (by MSWG-ASEAN Corporate Governance in 2017), Value Creator for Outstanding CEO of Malaysia (by The Edge in 2016), Most Outstanding Individual for contributions to Islamic Finance (by KLIFF in 2011) and the Special Humanitarian Award by MERCY Malaysia in 2019.
From 2016 to 2018, he was selected by the World Economic Forum (Davos) to the Board of Stewards for the Future of Economic Progress and the Board of Stewards for the ASEAN Regional Strategy Group. In 2011, he was selected by the World Economic Forum to the Global Agenda Council on the Role of Business. From 2005 to 2018, he was a member and former trustee of the Asia Business Council, and until November 2019, he was a founding trustee of the Asia School of Business. Azman has also served on various public service and policy making boards in Malaysia including the National Export Council, National Innovation Agency, National Science Council, Special Economic Committee, Iskandar Regional Development Authority, Global Science and Innovation Agenda Council and the Advisory Panel to the Minister of Education.
For his services to the nation, Azman was awarded the Panglima Setia Mahkota (P.S.M.) medal by the King of Malaysia in 2008 which carries the honorary title “Tan Sri”, and the titles “Dato” (2004) and “Datuk Wira” (2017) by the states of Pahang and Melaka respectively. Born in 1961, he makes home in Kajang, Malaysia and in London, United Kingdom, with Mastura Abdul Rahman, and together, they have five children.