Tengku Zafrul Aziz is a prominent figure in Malaysian politics and business, recognized for his experience in both the corporate world and government service. Born on June 25, 1973, his full name is Tengku Zafrul bin Tengku Abdul Aziz.
Zafrul’s early career was marked by significant achievements in the financial sector. He holds a Bachelor of Science in Economics and Accounting from the University of Bristol and a Master of Arts in Finance and Management from the University of Exeter. He gained considerable experience in banking and investment, working with reputable institutions such as Citigroup, Barclays, and Alliance Bank Malaysia Berhad. He is best known for his role as the Group Chief Executive Officer of CIMB Group Holdings Berhad, a leading ASEAN universal bank.
His transition into politics came in 2020 when he was appointed as the Minister of Finance under then-Prime Minister Muhyiddin Yassin. This was a notable appointment as Zafrul was not a member of parliament at the time. As Finance Minister, he was tasked with navigating the Malaysian economy through the challenging period of the COVID-19 pandemic. His key responsibilities included formulating economic policies, managing the national budget, and implementing financial aid programs aimed at supporting businesses and individuals affected by the pandemic. He oversaw the implementation of various stimulus packages like the PRIHATIN Rakyat Economic Stimulus Package aimed at mitigating the economic impact of the lockdowns and movement restrictions.
Zafrul’s tenure as Finance Minister was marked by efforts to improve transparency and efficiency in government spending. He championed digital transformation initiatives within the ministry and promoted sustainable development practices. He also focused on attracting foreign investment and strengthening Malaysia’s position as a regional economic hub.
Following a change in government, Tengku Zafrul served briefly in other ministerial roles before being appointed as the Minister of International Trade and Industry (MITI). In this capacity, he focused on promoting Malaysia’s trade interests, attracting foreign direct investment, and fostering stronger economic ties with other countries. His responsibilities included negotiating trade agreements, supporting Malaysian businesses in expanding their global reach, and ensuring the country remains competitive in the international market.
Throughout his career, Tengku Zafrul has cultivated a reputation as a capable and pragmatic leader. His background in finance has provided him with a strong understanding of economic principles and financial management. His experience in both the private and public sectors has given him a unique perspective on the challenges and opportunities facing Malaysia. He remains an influential figure in Malaysian politics and is seen as a key player in shaping the country’s economic future.