Raja Datin Paduka Teh Maimunah Raja Abdul Aziz may be set to exit AEON Bank, as Bank Islam Malaysia reportedly considers her for its top leadership role, according to people familiar with the matter.
According to The Star, she is among the candidates being evaluated to succeed Datuk Mohd Muazzam Mohamed as Group CEO.
Muazzam stepped down from the position on 31 December 2025, after seven years leading Bank Islam.
Any appointment will require approval from Bank Negara Malaysia, which must formally endorse senior management changes at licensed banks.
If Raja Teh is appointed, it would mark another senior leadership shift in Malaysia’s digital banking sector, which has seen several high-level departures in recent months.
AEON Bank has already seen the exit of Glen Cha, who left his role as Chief Technology Officer after three and a half years, as part of broader changes within the bank.
The other Islamic digital bank, KAF Digital Bank, will also see its Chief Executive Officer Rafiza Ghazali step down at the end of January 2026.
She is set to take on the role of Managing Director for Consumer Banking at Fasset from 1 February.
During the transition, KAF Digital Bank has appointed Suzaini Mokhtar as Acting CEO.
Fasset received conditional approval from the Labuan Financial Services Authority’s i-BOX regulatory sandbox to operate as an Islamic digital bank.
Grab’s first engineer and GXBank Chief Technology Officer Fadrizul Hasani also stepped down in early January after a 14-year tenure.
Ryt Bank has since undergone a leadership change, with Chief Financial Officer Wilson Soon assuming the role of Acting CEO following the departure of Melvin Ooi.
The recent departures point to a period of leadership turnover as Malaysia’s digital banks enter a more mature phase of operations.
Watch Raja Teh in a Fintech Fireside Asia interview, where she said AEON Bank was intended to be her final role and outlined her focus on underserved communities and SMEs.
