SHAH ALAM – Bank Islam Malaysia Berhad has announced the retirement of its chairman Tan Sri Dr Ismail Bakar, effective Aug 22 2026.
His departure comes after six years of service, having served in the role since August 2020.
In a statement today, the bank said Ismail provided leadership and strategic direction that supported the financial institution's growth, governance framework and long-term value creation.
The Board of Directors expressed its appreciation for his contributions in strengthening the group’s corporate transformation agenda and reinforcing its standing as a values-based Islamic bank.
To ensure leadership continuity and sound governance, senior independent non-executive director Mohd Yuzaidi Mohd Yusoff will assume the chairman’s responsibilities, including presiding over Board meetings, until a new chairman is appointed.
Mohd Yuzaidi has been on the Board since July 2019 and currently chairs both the Board Risk Committee and the Board Nomination and Remuneration Committee.
Bank Islam group chief executive officer YM Raja Datin Paduka Teh Maimunah Raja Abdul Aziz extended her gratitude on behalf of the organisation.
"We thank him for his significant contribution to Bank Islam’s development and wish him every success in the future,” she said.
She noted that Ismail’s stewardship significantly enhanced the group’s institutional capabilities and governance foundations.
Raja Teh Maimunah added that the Board and management have collaborated closely to ensure an orderly transition.
She reaffirmed the bank’s commitment to executing its strategy, serving stakeholders and delivering sustainable value under Mohd Yuzaidi’s interim leadership.