Azman Hashim: Scaling challenges, shaping finance

Malaysian Reserve

16-06-2025

KUALA LUMPUR — With over 60 years of experience in the banking industry, Tan Sri Azman Hashim (picture) stands not only as an icon of Malaysian finance but also as a remarkable businessman, passionate sportsman, avid singer and dedicated philanthropist.
Azman scaled Mount Kinabalu in 2023 at age 84, describing his achievement as both a physical and symbolic journey.
'Life, after all, is a series of mountains – some literal, others metaphorical,' he told Bernama.
'That climb reminded me that with preparation, determination and belief, we can still overcome great challenges regardless of age,' Azman added.
That same mindset, he said, drove him to establish his accountancy firm, Azman & Co, later acquire Arab-Malaysian Merchant Bank and build AmBank Bhd.
'Age should never be a barrier to purpose. If you stay curious and committed, there's always another summit to reach,' he said.
He emphasised that passion is what brings balance and perspective, which have profoundly shaped his approach to leadership, not merely as a business function, but as a responsibility to serve others.
A Legacy of Recognition and Service
Recently, Azman, who is chairman of the Asian Institute of Chartered Bankers (AICB), was awarded a Lifetime Achievement Award from the Chartered Banker Institute, UK.
He noted the award reflected not only his journey, but the collective progress at AICB in raising the standards of professionalism and integrity in Malaysia's banking industry.
'Banking goes beyond just numbers. It is about trust, responsibility and our duty to serve society with purpose and integrity.
'This recognition is a tribute to the many incredible individuals I have had the privilege of working with over the past six decades, from regulators to industry peers, colleagues and partners,' he said.
Azman hopes the recognition inspires others, especially the younger generation, to embrace lifelong learning, lead with strong values and contribute meaningfully to the future of the financial industry.
Previously, he also received prestigious honours from Japan and Australia – most notably, the Order of the Rising Sun, Gold Rays with Neck Ribbon, from His Majesty, the Emperor of Japan (1987) and the Order of the Rising Sun, Gold and Silver Star, from the Japanese government (2021), along with the Medal of the Order of Australia from the Governor-General of the Commonwealth of Australia in 2008.
Charting the Financial Journey
Azman began his career in 1955, studying in Perth, Australia, and qualifying as a chartered accountant and chartered secretary at Messrs O L Haines & Co. before the age of 21.
In 1960, he joined Bank Negara Malaysia (BNM), before starting his own company under the name Azman & Co in May 1964. The company later became known as Azman Wong Salleh & Co.
He left the company in May 1971 to join Malayan Banking Bhd (Maybank) as executive director and later served at Kwong Yik Bank Bhd from December 1980 to March 1982.
In 1982, Azman acquired Arab-Malaysian Merchant Bank and transformed it into the AmBank Group, where he served as chairman until his retirement in 2022.
Azman has been a member of the Institute of Bankers Malaysia (IBBM) since 1983 and was elected as chairman in 2009. IBBM was later renamed AICB in 2014.
Leadership Through Crisis
The 1998 Asian financial crisis was one of Malaysia's most turbulent financial chapters.
'Currency speculation led to a sharp depreciation of the ringgit, the stock market collapsed, interest rates soared and liquidity dried up. Many businesses and individuals suffered, and AmBank was not spared,' he recalled.
What carried AmBank through was a firm belief in resilience, composure under pressure and an unwavering commitment to doing what's right, he said.
'I've always believed that in a crisis, you need to lead with clarity, courage, and calm.
'These experiences reminded me that adversity builds character. It taught us to be prepared, prudent and to focus on long-term sustainability over short-term gains,' he said.
AICB and the Future of Banking
Since joining AICB in 1983 and becoming chairman in 2009, Azman has been instrumental in transforming AICB into a leading professional body with over 37,000 members across more than 20 countries in Asia.
Under his leadership, AICB also strengthened its position as a key partner to BNM and financial institutions in driving industry-wide competency standards.
'AICB partnerships with respected global institutions are vital in raising the bar for Malaysian bankers. Aligning ourselves with institutions like the Chartered Banker Institute in the UK allows us to benchmark against the best in the world.
'It ensures our qualifications are internationally recognised and respected. This provides global opportunities for our bankers, enabling them to work, collaborate and compete on a wider stage,' he said.
Since 1980, over 39,000 banking professionals have benefited from AICB's qualifications.
Today, AICB counts over 800 Chartered Bankers in 13 countries, including Singapore, India, and the Maldives, a testament to the growing importance of ethics and future-readiness in banking.
'The Chartered Banker qualification is about more than acquiring technical expertise. It cultivates judgment, ethics, and a deep understanding of the trust we hold as financial professionals.
'It sets a gold standard – one that helps ensure that the people leading our financial institutions are competent, professional, and committed to reinforcing public trust in the profession. It's a foundation for building a more reputable, responsible and resilient financial future for Malaysia and beyond,' he said.
Building the Workforce of Tomorrow
Working alongside the Asian Institute of Insurance and the Islamic Banking and Finance Institute Malaysia, AICB spearheaded the Future Skills Framework (FSF) to map out emerging job roles and in-demand skills across the financial sector.
The framework identifies 161 relevant job roles and 157 in-demand skills for the next three years, potential career development pathways, and nearly 1,000 capacity-building programmes.
'My advice to young bankers is to stay curious, keep learning and always hold yourself to the highest standards of integrity. The financial world needs not just smart minds but principled professionals.
'The pace of change may be fast, but values remain timeless, which is why initiatives like AICB's Chartered Banker qualification are so vital. It is designed not only to equip professionals with knowledge but also to instil a deep respect for ethical standards,' he concluded. — BERNAMA