Minister of Investment, Trade & Industry, Malaysia

Tengku Zafrul Aziz is Malaysia’s Minister of Investment, Trade & Industry, responsible for growing the country’s manufacturing industry and trade, as well as attracting investments into the country. Since his appointment in December 2022, he has consistently pledged to make Malaysia more pro-business, pro-investment and pro-trade.

Tengku Zafrul was previously Malaysia’s Minister of Finance from March 2020 – October 2022. He led the curation and implementation of eight stimulus and aid packages, the four-phased National Recovery Plan (NRP) to exit the pandemic safely, as well as three national budgets (2021, 2022 and 2023). Post-pandemic, Malaysia achieved a GDP of 8.7% in 2022, the highest among ASEAN countries, and the nation’s highest in 22 years, largely due to the targeted aid measures and NRP. These strategic measures are detailed in his book published by MPH in 2022, entitled Weathering the Economic Storm: A Journey through the Uncharted Waters of COVID-19.

Prior to his ministerial appointments, Tengku Zafrul was in the banking and financial sector for over 22 years, specializing in investment banking, sustainable finance, change management and regional policy execution. He was the Group CEO and Executive Director of CIMB Group Holdings Berhad, a leading ASEAN universal bank and a global leader in Islamic finance, with presence in 13 countries. He had also served as the President Commissioner of PT Bank CIMB Niaga in Indonesia. Earlier years saw him helm senior positions at Maybank Investment Bank Berhad, Maybank Kim Eng Holdings, Citigroup Malaysia, Kenanga Holdings Berhad, Avenue Securities and Tune Money. 

A keen sports, sustainability and youth development enthusiast, Tengku Zafrul had spearheaded various initiatives such as CIMB’s The Cooler Earth Sustainability Summit, CIMB Cycle, CIMB ASEAN Scholarship, the CIMB-PGA Classic Golf Tournament and the CIMB Foundation’s proprietary Be$MART financial literacy programme for less privileged tertiary students.

Tengku Zafrul’s passion for cycling and running helped him complete the full Iron Man Challenge in 2019. He also successfully raised funds for charity via the Abbott World Marathon Majors, all six of which were accomplished between 2016 - 2018.

Tengku Zafrul is also an Honorary Captain in Malaysia’s Royal Navy Volunteer Reserve.