Nazir Razak appointed to lead Malaysia Indonesia Business Council

Tan Sri Mohamed Nazir bin Tun Abdul Razak, former Chairman of CIMB Group, one of the largest financial services providers in Malaysia and ASEAN, has been appointed as the chairman of the Malaysia Indonesia Business Council (MIBC). 

Mohamed Nazir bin Abdul Razak expressed happiness over his appointment. He wrote on Instagram, “Thank you to the Government for appointing me as its chairman. And grateful to PNB, Maybank, CIMB, KLK, Air Asia, Lorry.com and NCCIM for being initial corporate council members (we will invite more).”

The Malaysia Indonesia Business Council (MIBC) was first launched in 2002. The council was chaired by Tun Ahmad Sarji Ahmad Hamid, a Malaysian civil servant who previously served as the Chief Secretary to the Government. 

On July 12 2023, the Malaysia Indonesia Business Council (MIBC) was relaunched. The council was set up in 2022 via a memorandum of understanding between Malaysia and the Republic of Indonesia.

The council was aimed at helping Malaysia’s private sector and resolve challenges related to economic cooperation between the two countries. The council also aimed to attract new economic opportunities between Malaysia and Indonesia.

Tengku Datuk Seri Zafrul Tengku Abdul Aziz, the International Trade and Industry Minister of Malaysia, and Hermono, Indonesia’s ambassador to Malaysia, attended the relaunch ceremony of the council on 12 July.

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According to reports, the new Malaysia Indonesia Business Council (MIBC) has representatives from Permodalan Nasional Berhad (PNB), Maybank, CIMB, Kuala Lumpur Kepong, AirAsia and TheLorry.com.

Tengku Zafrul bin Tengku Abdul Aziz said, “The reactivation of the MIBC signifies our commitment to strengthen our bilateral business relationship with Indonesia.” 

The newly launched council said that it would play an instrumental role in contributing towards sustainable and inclusive policies as well as fostering partnerships. 

The new chairman of the council said, “I am pleased to have a platform to assist other Malaysians to invest in, trade as well as partner with Indonesia.”