KUALA LUMPUR: Group president and chief executive officer of Malaysia Building Society Bhd and its group of companies, Datuk Seri Ahmad Zaini Othman, has passed away after battling with Covid-19 complications.

MBSB said in a statement on Sunday he took his last breath at 1.46am at KPJ Selangor Specialist Hospital. He was 64.

MBSB described Ahmad Zaini as a visionary leader with four decades of banking experience and was appointed to helm MBSB - the financial holding company of MBSB Bank Bhd -- on Feb 26, 2009.

Under his leadership, he has transformed a non-bank financial institution by restructuring and turning around its financial standing into a profitable organisation.

He 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 successfully converted a conventional non-bank financial institution into a full-fledged Islamic bank.

"Today, MBSB Bank stands as the country’s second full-fledged Islamic bank," the statement said.

MBSB said Ahmad Zaini received multiple industry recognitions throughout his journey in the banking industry. He leaves behind his wife, two married daughters and two grandchildren.

MBSB group chairman Tan Sri Azlan Zainol 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.”

As an interim measure, Datuk Nor Azam M Taib who is the deputy CEO will be the acting president and CEO of MBSB Group.

MBSB HQ Menara PJ Sentral