Kuala Lumpur – Cagamas Berhad (“Cagamas”) is pleased to announce the appointment of Kameel Abdul Halim as its new President/Chief Executive Officer (“CEO”) effective 11 September 2023.
Kameel has more than 25 years of experience in the financial services industry with a wide range of expertise in commercial banking, development finance and investment banking.
He has a Bachelor of Business Administration (Hons) from Coventry University, United Kingdom, and a Masters in Risk Management (Hons) from University of Nottingham, United Kingdom.
The Cagamas Board of Directors (“The Board”) is pleased to welcome Kameel as the new President/CEO to lead Cagamas on its next phase of growth. He will succeed Datuk Chung Chee Leong, who will complete his term on 30 August 2023. The Board would like to express its appreciation to Datuk Chung for his leadership and dedication throughout his 11-year service and wish him all the best in his future endeavours.
Cagamas Berhad (Cagamas), the National Mortgage Corporation of Malaysia, was established in 1986 to promote the broader spread of home ownership and growth of the secondary mortgage market in Malaysia. It issues bonds and sukuk to finance the purchase of housing loans from financial institutions and non-financial institutions. The provision of liquidity to financial institutions at a reasonable cost to the primary lenders of housing loans encourages further expansion of financing for houses at an affordable cost.
The Cagamas model is well regarded by the World Bank as the most successful secondary mortgage liquidity facility. Cagamas is the second largest issuer of debt instruments after the Government of Malaysia and the largest issuer of AAA corporate bonds and sukuk in the market. Since incorporation in 1986, Cagamas Group has cumulatively raised funds circa RM409.7 billion worth of corporate bonds and Sukuk.
Cagamas’ bonds and sukuk continue to be assigned the highest ratings of AAA/Stable/P1 by RAM Rating Services Berhad and AAA/MARC-1 and AAAIS/MARC-1IS by Malaysian Rating Corporation Berhad, denoting its strong credit quality. Cagamas is also well regarded internationally and has been assigned local and foreign currency long-term issuer ratings of A3 by Moody’s Investors Service Inc. that are in line with Malaysian sovereign ratings.
Registration No. 198601008739 (157931-A)
Level 32, The Gardens North Tower
Mid Valley City, Lingkaran Syed Putra 59200 Kuala Lumpur
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