Nazir’s mandate as chairman will be to merge DFIs under BPMB

As Datuk Seri Nazir Razak’s appointment as chairman of Bank Pembangunan Malaysia Bhd (BPMB) awaits approval from Bank Negara Malaysia, sources familiar with the matter tell The Edge that he will face an arduous task — merging four development financial institutions (DFIs) under the BPMB banner.

BPMB will be taking the lead in the merger, taking over Danajamin Nasional Bhd, Small Medium Enterprise Development Bank Malaysia Bhd (SME Bank) and Export-Import Bank of Malaysia Bhd (Exim Bank), as stated in Budget 2020.

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