Malaysian politician and investor
Tengku Zafrul Aziz
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![](//upload.wikimedia.org/wikipedia/commons/thumb/9/92/Tengku_Zafrul_2022_%28cropped%29.jpg/220px-Tengku_Zafrul_2022_%28cropped%29.jpg) Tengku Zafrul In January 2023
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Assumed office
5 April 2023
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Monarchs
| Abdullah
(2023?2024)
Ibrahim Iskandar
(since 2024)
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Prime Minister
| Anwar Ibrahim
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Deputy
| Liew Chin Tong
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Preceded by
| Position established
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Constituency
| Senator
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In office
3 December 2022 ? 5 April 2023
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Monarch
| Abdullah
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Prime Minister
| Anwar Ibrahim
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Deputy
| Liew Chin Tong
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Preceded by
| Azmin Ali
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Succeeded by
| Position abolished
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Constituency
| Senator
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In office
30 August 2021 ? 24 November 2022
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Monarch
| Abdullah
|
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Prime Minister
| Ismail Sabri Yaakob
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Deputy
| Mohd Shahar Abdullah
Yamani Hafez Musa
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Preceded by
| Himself
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Succeeded by
| Anwar Ibrahim
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Constituency
| Senator
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In office
10 March 2020 ? 16 August 2021
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Monarch
| Abdullah
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Prime Minister
| Muhyiddin Yassin
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Deputy
| Abdul Rahim Bakri
Mohd Shahar Abdullah
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Preceded by
| Lim Guan Eng
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Succeeded by
| Himself
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Constituency
| Senator
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In office
9 July 2021 ? 16 August 2021
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Monarch
| Abdullah
|
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Prime Minister
| Muhyiddin Yassin
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Preceded by
| Position established
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Succeeded by
| Position abolished
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Constituency
| Senator
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Assumed office
3 December 2022
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Monarchs
| Abdullah
(2022?2024)
Ibrahim Iskandar
(since 2024)
|
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Prime Minister
| Anwar Ibrahim
|
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In office
10 March 2020 ? 5 November 2022
|
Monarch
| Abdullah
|
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Prime Minister
| Muhyiddin Yassin
(2020?2021)
Ismail Sabri Yaakob
(2021?2022)
|
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Assumed office
31 July 2022
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National Chairman
| Ahmad Zahid Hamidi
|
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State Chairman
| Noh Omar
(2022)
Megat Zulkarnain Omardin
(since 2022)
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Preceded by
| Jamal Md Yunos
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In office
11 April 2023 ? 1 April 2024
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President
| Ahmad Zahid Hamidi
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State Chairman
| Megat Zulkarnain Omardin
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Assumed office
18 March 2023
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President
| Ahmad Zahid Hamidi
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Deputy
| Abdul Raof Mokhtar
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Preceded by
| Kamaruzzaman Johari
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Born
| Tengku Zafrul bin Tengku Abdul Aziz
(
1973-06-25
)
25 June 1973
(age 51)
Kuala Lumpur
,
Malaysia
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Political party
| United Malays National Organisation
(UMNO)
(since 1997)
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Other political
affiliations
| Barisan Nasional
(BN)
(since 1997)
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Spouse
|
Raja Datin Seri Utama Johanna Adrina Raja Arshad
(
m.
2011)
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Relations
| House of
Langkat
,
Sumatera
[1]
House of
Deli
,
Sumatera
Tengku Haris Tengku Hafas
[2]
(grandfather)
Tengku Pangeran Tengku Hafas Tengku Ismail
[3]
(great-grandfather)
Pangeran Nara Kelana Tengku Ismail Soeloeng Laoet Usman Perkasa Alam Shah aka Tengku Ismail Sulung Laut
[4]
(great-great-grandfather)
Sultan Usman Perkasa Alam Shah ? Deli 7 (1824-1857)
[5]
(father of great-great-grandfather)
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Children
| Tengku Zahra Jasmina Tengku Zafrul
Tengku Zayn Aqeel
Tengku Zafrul
Tengku Zaeem Khalif Tengku Zafrul
Tengku Zahira Eusnie
Tengku Zafrul
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Parent(s)
| Raja Datuk Zaharaton Raja Zainal Abidin (mother)
Tengku Abdul Aziz Tengku Haris (father)
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Education
| Sri Petaling Primary School
Bukit Bintang Boys' School
Malay College Kuala Kangsar
|
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Alma mater
| University of Bristol
(
BSc
in Economics and Accounting)
University of Exeter
(
MA
in Finance and Management)
Tsinghua University
(
MBA
)
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Occupation
| Politician, investor
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Tengku Zafrul bin Tengku Abdul Aziz
(
Jawi
:
???? ????? ?? ???? ??? ??????
,
Malay pronunciation:
[tengku
zafrul]
; born 25 June 1973) is a
Malaysian
politician
, banker and
investor
who has served as the
Minister of Investment, Trade and Industry
in the Unity Government administration under Prime Minister
Anwar Ibrahim
since April 2023. He is a member of the
United Malays National Organisation
(UMNO), a component party of the BN coalition. He is currently a Member of the UMNO Supreme Council since March 2023.
[6]
Early life and education
[
edit
]
Tengku Zafrul was born on 25 June 1973 and is the eldest of four siblings.
[7]
His mother, Raja Datuk Zaharaton Raja Zainal Abidin, is the former Director-General Of the Economic Planning Unit (EPU) of the
Prime Minister's Department of Malaysia
and his father, Tengku Abdul Aziz Tengku Haris, is a businessman.
[7]
Tengku Zafrul began his early education at Sri Petaling Primary School and Bukit Bintang Primary School.
[8]
He continued his studies at
Malay College Kuala Kangsar
and then studied A-Level at Sherborne School in Dorset, United Kingdom.
[9]
He graduated from the
University of Bristol
, UK with a Bachelor of Science (Hons) in economics and accounting, and obtained a Master of Arts (MA) in Finance and Management from the
University of Exeter
, UK.
[10]
From 2017 to 2019, Tengku Zafrul completed his second master's degree in business administration (MBA) at
Tsinghua University
PBCSF (People's Bank of China School of Finance).
[11]
He is also a Fellow Chartered Banker with the Asian Institute of Chartered Bankers.
[12]
Corporate career
[
edit
]
Zafrul started out as a corporate finance executive in AmInvestment Bank in 1996. He then joined Credit Agricole as an investment analyst, moving up to director within a few years. Succeeding this, he became the advisor to the president of
Tenaga Nasional Berhad
. Zafrul then joined
CIMB Investment Banking
, after which he was appointed as group managing director of Avenue Capital Resources (now ECM Libra), a listed company specialising in financial services i.e. investment banking and fund management. He was also chief executive officer of Avenue Securities and the chairman of Avenue Asset Management. Zafrul then went on to become the head of investment banking for Citigroup Malaysia.
He is also the main investor behind Tune Money Sdn Bhd, Asia's first "no-frills" online financial service provider as well as its CEO and substantial shareholder. Following that, Zafrul was appointed as group director of Kenanga Holdings Berhad and director of Kenanga Investment Bank Berhad. Prior to assuming his most recent role with CIMB, Zafrul was the chief executive officer of Maybank Investment Bank, the fully owned investment banking arm of
Malayan Banking Berhad
, Malaysia's flagship financial services player. The acquisition of Kim Eng Holdings Limited (Kim Eng) by the Maybank Group in 2011 resulted in the combined entity of Maybank IB and Kim Eng, known regionally as Maybank Kim Eng, of which Zafrul was also CEO. On 9 March 2020, Tengku Zafrul announced his resignation as CIMB group chief executive officer before being appointed minister of finance.
[13]
Other positions
[
edit
]
- AmInvestment Bank (corporate finance executive) (June 1996 ? April 1997)
[14]
- Credit Agricole (investment analyst and director) (May 1997 ? August 1998) & (July 1999 ? March 2001)
[14]
- Tenaga Nasional Bhd (president's advisor) (March 2001 ? September 2002)
[14]
- CIMB Investment Bank Berhad (director, "client coverage") (September 2002 ? April 2003)
[14]
- Avenue Capital Resources Bhd/Avenue Securities (now ECM Libra) (chief executive officer and chairman) (2003?2006)
[14]
- Citigroup Malaysia (head of investment banking) (April 2006 ? March 2007)
[14]
- Tune Money (chief executive officer) (March 2007 ? December 2008)
[14]
- Kenanga Holdings Berhad and Investment (group director) (January 2009 ? June 2010)
[14]
- Maybank Investment Bank Berhad and Maybank Kim Eng Holdings (chief executive officer) (June 2010 ? December 2013)
[14]
- CIMB Investment Bank Berhad (chief executive officer and co-chairman of corporate solutions) (2014?2016)
[14]
- CIMB Bank Berhad (chief executive officer) (2014?2015)
[14]
- CIMB Group Holdings Berhad (group chief executive officer) (February 2015 ? 9 March 2020)
[14]
Recognition and awards
[
edit
]
Throughout his career, Zafrul was awarded with numerous Prestigious Awards including ASEAN CEO Award by Technology Business Review (2008).
[15]
He also was given the Malaysian Business Leadership Award in the year 2009.
[15]
Most Promising Entrepreneurship Awards by Enterprise Asia (2008)
[15]
and the Malaysian Business Leadership Award by The Leaders Magazine. Most recently, he was awarded the Masterclass CEO of the Year in the 7th Global Leadership Award organised by the American Leadership Development Association (2017) and the Best Chief Executive Officer for Investor Relations by the Malaysia Investor Relations Association (2017). Tengku Zafrul has also bagsed TalentCorp's Life at Work 2019 Award for the CEO category of Malaysian organizations.
[16]
Television and other media
[
edit
]
Tengku Zafrul was one of the judges of the corporate reality television series
The Firm
.
[11]
The show premiered prime time nationwide on
NTV7
and Astro's Channel 7 in Malaysia in 2007.
[11]
As one of the three millionaire judges on
The Firm
, the other two beings
Peter Pek
and
Chan Boon Yong
, he is considered one of Malaysia's few corporate celebrities. He has also appeared in advertisements for Tune Money. On 4 July 2020, Tengku Zafrul became a Special Guest on
TV3
's Money Matters program.
[17]
Year
|
Title
|
Role
|
Note
|
2007
|
The Firm
|
Himself
|
As a jury (Season
1
&
2
)
|
2020
|
Money Matters
|
Himself
|
As a special guest
|
Political career
[
edit
]
On 9 March 2020, Tengku Zafrul was appointed in Muhyiddin's cabinet as Minister of Finance after being made a Senator.
[18]
[14]
He is a
Senator
from March 2020 to his resignation in November 2022 and again since December 2022. Prior to his political appointments, he was the
Chief Executive Officer
(CEO) and Executive Director of the
CIMB Group Holdings Berhad
.
[12]
He was also
CEO
and executive director of the
CIMB Bank Berhad
[19]
and president commissioner of the
PT Bank CIMB Niaga Tbk
.
[18]
Minister of Finance
[
edit
]
He started his first term from March 2020 to August 2021 as well as Coordinating Minister of the National Recovery Plan from July 2021 to August 2021 in the
Perikatan Nasional
(PN) administration under former prime minister
Muhyiddin Yassin
and later for his tenure for the second term in the
Barisan Nasional
(BN) administration under former prime minister
Ismail Sabri Yaakob
from August 2021 to November 2022. As he was not an elected Member of Parliament (MP), he was appointed as an independent Senator twice in March 2020 and again in December 2022, in order to assume his duties as the first
technocratic
Minister of Finance in March 2020 as he was also the first
independent
individual in terms of active political party association, to be appointed minister of finance in the
Malaysian history
. He embarked on a task to assist the people and industry in the implementation of the Prihatin Rakyat Economic Stimulus Package during the outbreak of the
COVID-19 pandemic in Malaysia
.
[20]
Tengku Zafrul also explains the economic recovery plan will be announced after Aidilfitri to revive the affected economy of Malaysia.
[21]
[22]
Under the Short-Term Economic Recovery Plan (PENJANA), Tengku Zafrul has launched the ePenjana credit program worth RM750 million to aimed at boosting consumer spending in Malaysia.
[23]
On 6 November 2020, Tengku Zafrul presented the 2021 budget in the
Parliament
to ensure that the economy revives and benefits the people.
In June 2022, Tengku Zafrul announced the largest subsidies and cash aid package in Malaysian history (77.3 billion ringgit) for the year 2022, in order to temper the effect of inflation.
[24]
Minister of International Trade and Industry
[
edit
]
He first served as
Minister of International Trade and Industry
in the PH administration under Prime Minister Anwar from December 2022 to April 2023, before the ministry was renamed to Investment, Trade, and Industry.
[25]
UMNO and BN
[
edit
]
Tengku Zafrul has also served as the State
Treasurer
of BN of
Selangor
since July 2022 and Division Chief of UMNO of
Kota Raja
since March 2023. He served as State Treasurer of UMNO of Selangor from April 2023 to his resignation in April 2024. His appointment as the State Treasurer of BN of Selangor in July 2022 marks the start of his involvement in active politics. He resigned as the Selangor UMNO Treasurer in April 2024.
[26]
[27]
[28]
[29]
Currently, Tengku Zafrul is also a member of the UMNO Supreme Council after he won the post in the
2023 United Malays National Organisation leadership election
.
Personal life
[
edit
]
Tengku Zafrul is married to Raja Datin Seri Utama Johanna Adrina Raja Arshad, a member of Selangor and Negeri Sembilan royal family. The couple have two daughters and two sons.
[7]
[30]
Since his school days, Tengku Zafrul was interested in sports such as hockey and ran for recreation.
[11]
During his first year at the
University of Bristol
, his main transportation was by bicycle.
[11]
His interests include keeping fit through running, cycling and swimming, and developing the youth through his participation in various organisations such as the Kalsom Movement and Teach for Malaysia. He has completed all six marathons under the
Abbott World Marathon Majors
.
[31]
He is also a fan of the football club,
Liverpool F.C.
, which plays in the
English Premier League
.
Election results
[
edit
]
Honours
[
edit
]
Honours of Malaysia
[
edit
]
Foreign honours
[
edit
]
References
[
edit
]
- ^
Shah, Shanon.
"Getting our act together"
.
The Nut Graph
. Retrieved
11 December
2022
.
- ^
"Tengku Haris Tengku Hafas"
.
Geni.com
. 29 April 2022
. Retrieved
15 December
2022
.
- ^
"Tengku Pangeran Tengku Hafas Tengku Ismail"
.
Geni.com
. 29 April 2022
. Retrieved
15 December
2022
.
- ^
"Tengku Ismail Sulung Laut"
.
Geni.com
. 28 April 2022
. Retrieved
15 December
2022
.
- ^
"Sultan Usman Perkasa Alam Shah ? Deli 7 (1824-1857)"
.
Geni.com
. 29 April 2022
. Retrieved
15 December
2022
.
- ^
"Tengku Zafrul appointed Umno Supreme Council member"
.
New Straits Times
. 16 February 2023
. Retrieved
16 October
2023
.
- ^
a
b
c
"Pelantikan Tengku Zafrul berbeza daripada amalan"
.
Harian Metro
. 9 March 2020
. Retrieved
7 June
2020
.
- ^
"Tengku Zafrul tekad beri perkhidmatan terbaik"
.
www.bharian.com.my
. 9 March 2020
. Retrieved
4 July
2020
.
- ^
"Biodata Menteri Kewangan Malaysia 2020: Tengku Zafrul Aziz"
.
www.iluminasi.com
. 10 March 2020
. Retrieved
5 July
2020
.
- ^
Ravi Velloor (9 July 2017).
"In Good Company: Marathon man Zafrul Aziz sets CIMB up for long haul"
.
The Straits Times
. Retrieved
7 June
2020
.
- ^
a
b
c
d
e
"8 Things About Our New Finance Minister And What He's Bringing to the Table"
.
Vulcan Post
. 10 March 2020
. Retrieved
3 May
2020
.
- ^
a
b
"2019 Speakers"
.
www.coolerearth.cimb.com
. 24 July 2020
. Retrieved
24 July
2020
.
- ^
"Zafrul quits CIMB CEO post"
.
www.thestar.com.my
. 10 March 2020
. Retrieved
1 August
2020
.
- ^
a
b
c
d
e
f
g
h
i
j
k
l
m
"SENARAI KABINET 2020"
.
www.bharian.com.my
. 13 March 2020
. Retrieved
5 July
2020
.
- ^
a
b
c
"Tengku Zafrul Tengku Abdul Aziz"
.
www.uschos.com
. 2020
. Retrieved
6 May
2020
.
- ^
"Tengku Zafrul bags TalentCorp's Life at Work 2019 award"
.
www.theedgemarkets.com
. 17 July 2020
. Retrieved
20 July
2020
.
- ^
Mohd Nasaruddin, Parzi (19 November 2010).
"Pelancongan domestik rancakkan ekonomi"
.
www.bharian.com.my
. Retrieved
4 July
2020
.
- ^
a
b
Shukry, Anisah; Ngui, Yantoultra (9 March 2020).
"Malaysia Picks Bank CEO as Finance Minister in New Cabinet"
.
Bloomberg
. Retrieved
5 May
2020
.
- ^
"CIMB Group ? Board of Directors"
.
cimb.com
. Retrieved
23 January
2019
.
- ^
"Malaysia: The PRIHATIN Rakyat Economic Stimulus Package"
.
www.bakermckenzie.com
. 31 March 2020
. Retrieved
6 May
2020
.
- ^
"Pelan pemulihan ekonomi diumum selepas Aidilfitri ? Tengku Zafrul"
.
www.astroawani.com
. 5 March 2020
. Retrieved
1 August
2020
.
- ^
"PM to launch short-term economic recovery plan this month, says Tengku Zafrul"
.
www.theedgemarkets.com
. 2 June 2020
. Retrieved
1 August
2020
.
- ^
"MoF's ePenjana programme"
.
www.thestar.com.my
. 31 July 2020
. Retrieved
1 August
2020
.
- ^
"Malaysia plans record $18 billion subsidy spend in inflation fight"
.
Reuters
. 25 June 2022
. Retrieved
26 June
2022
.
- ^
NST (2 December 2022).
"Zafrul is International Trade and Industry Minister"
.
New Straits Times
. Retrieved
2 January
2023
.
- ^
"Tengku Zafrul resigns as Selangor Umno treasurer"
.
The Star
. 1 April 2024
. Retrieved
1 April
2024
.
- ^
"Tengku Zafrul now Selangor BN treasurer"
.
The Star
. 31 July 2022
. Retrieved
1 August
2022
.
- ^
"Zafrul appointed Selangor Umno treasurer"
.
The Star
. 12 April 2023
. Retrieved
12 April
2023
.
- ^
"BERNAMA - UMNO POLLS (DIVISION CHIEFS): SAARANI, TENGKU ZAFRUL WIN UNOPPOSED, KHIR TOYO REAPPEARS"
.
Bernama
. 1 March 2023
. Retrieved
28 June
2023
.
- ^
"Cantiknya Isteri Menteri Kewangan! Anak 4 Tapi Maintain Muda, Rupanya Amalkan Petua Semula Jadi Je"
.
Nona
. 29 May 2020
. Retrieved
7 June
2020
.
- ^
"Abbott World Marathon Majors"
.
World Marathon Majors
. Retrieved
23 January
2019
.
- ^
a
b
c
d
"SEMAKAN PENERIMA DARJAH KEBESARAN, BINTANG DAN PINGAT"
.
Prime Minister's Department (Malaysia)
. Retrieved
23 December
2020
.
- ^
Han Sean, Ong; Tariq, Qishin (25 October 2015).
"Sultan Ahmad: Don't get involved with IS militant group"
.
The Star Online
. Retrieved
1 February
2021
.
- ^
"769 receive state awards, medals from N.Sembilan ruler"
.
Bernama
.
The Sun Daily
. 14 January 2014
. Retrieved
1 February
2021
.
- ^
"DPMS 2016"
.
awards.selangor.gov.my
. Retrieved
8 December
2022
.
- ^
"Tengku Zafrul heads list of Selangor award recipients"
.
The Edge Markets
. 11 December 2022
. Retrieved
11 December
2022
.
- ^
Nair, Vijenthi (1 February 2021).
"Yang di-Pertua Negeri Sabah, Penang head FT Day honours list"
.
The Star Online
. Retrieved
1 February
2021
.
- ^
Ibrahim, Mohd Iskandar; Sulaiman, Noor Atiqah (1 February 2021).
"Seramai 335 terima darjah kebesaran sempena Hari Wilayah"
.
Berita Harian
(in Malay)
. Retrieved
1 February
2021
.
- ^
Hadir, Shawaliah (1 February 2021).
"Tengku Zafrul antara 6 penerima Darjah Kebesaran Pangkat Pertama sempena Hari WP"
.
MalaysiaGazette
(in Malay)
. Retrieved
1 February
2021
.
- ^
"Sultanah Kelantan dahului senarai penerima darjah kebesaran"
.
Sinar Harian
(in Malay). 12 November 2022
. Retrieved
12 November
2022
.
- ^
"Monaco's Prince Albert II accorded state welcome at Istana Negara"
.
Malay Mail
. 27 November 2023
. Retrieved
27 November
2023
.
External links
[
edit
]