Labuan IBFC Inc., an Asian financial hub known for its insurance, reinsurance, Islamic finance, and digital business solutions, has announced the appointment of Steven Choy Khai Choon as Chairman, and Dr. Aida Othman as a member of its Board of Directors.
Effective 12 March 2025, both individuals have been appointed for a two-year term. They are current Authority Members of Labuan Financial Services Authority (Labuan FSA).
These appointments significantly bolster Labuan IBFC Inc.’s market outreach and strategic objectives, thanks to their extensive experience in financial services, public administration, and Islamic finance.
Choy currently serves as the Independent Non-Executive Chairman of Zurich Life Insurance Malaysia Bhd. He is also the Deputy Chairman and a member of both the Audit Committee and the Nomination & Remuneration Committee of Deutsche Bank Malaysia Bhd.
Additionally, the executive sits on the boards of Zurich General Insurance Malaysia Bhd, Hap Seng Plantations Holdings Bhd, Bond and Sukuk Information Platform Sdn Bhd, and Asian Banking School Sdn Bhd.
Choy is also an Independent Director and Chairman of the Risk & Audit Committee at MSM Malaysia Holdings Bhd, and serves as a Public Interest Director at the Federation of Investment Managers Malaysia.
He previously held senior roles in various financial institutions and was the President and CEO of Cagamas Berhad for six years, until his retirement in March 2012.
Currently a Board Member of ZICO Shariah Advisory Services Sdn Bhd, Dr. Othman brings extensive expertise in Islamic banking and finance, Islamic capital market instruments, and takaful products and operations.
She provides strategic advice on Shariah compliance, governance, and the legal and regulatory frameworks of Islamic finance. Additionally, Dr. Othman currently serves as a Shariah committee member at several Islamic financial institutions.
