Audit, Risk & Compliance Committee

The roles and functions of the Council are:

The primary objective of the Audit, Risk and Compliance Committee (ARCC) is to provide formal and transparent procedures, review audit reports and recommend to the full Board on all matters relating to internal audit as well as external audit for FAA’s operating accounts or business, consistent with FAA’s culture, objectives and strategy.

The Committee shall be appointed by the FAA Board from amongst the Directors of FAA Board and shall consist of no fewer than three members. Committee members are not directly responsible for, or be part of any committee involved in the management functions of the Company. The Chairman shall call a meeting of the Committee at least once a year and additional meetings as and when deemed necessary or if requested to do so by any committee member, the management, or the internal or external auditor.

Committee Members

Ms Salmah Bee Mohd Mydin

Chairperson

Ms Salmah Bee Mohd Mydin

Salmah Bee Mohd Mydin is the Executive Director of Market Development at the Securities Commission Malaysia (SC) responsible for sustainability, corporate governance, investment product development along with the securities and derivatives development functions.

An important focus of the SC’s agenda is the development of a capital market that is inclusive and sustainable and Salmah leads a team that is responsible for formulating initiatives to enhance market efficiency, vibrancy and competitiveness. She is a board member of the Audit Oversight Board, the Finance Accreditation Agency, the Malaysian Venture Capital and Private Equity Development Council; and Penjana Kapital.

With vast experience in investigation, intermediaries supervision, market surveillance, authorisation and licensing; and development and policy formulation, Salmah has been involved in numerous external engagements including initiatives in public sector transformation, the Attorney-General’s Chambers and the Anti-Corruption Agency (now known as the Malaysian Anti-Corruption Commission). She has also served as a member of the SC’s Capital Market Compensation Fund Corporation and the Financial Stability Committee of the Labuan Financial Services Authority.

Previously Salmah was a business reporter with The STAR Publications. She has a Bachelor of Arts (Management and Business Studies) from the University of Liverpool and a Master in Science (Public Policy and Management) from the University of London.

Professor Dr Humayon Dar

Member

Professor Dr Humayon Dar

Dr Humayon Dar is a Cambridge economist, with a wide range of interests in development practice and financial services. Dr Dar holds MPhil and PhD degrees from University of Cambridge, and possesses impeccable academic credentials and the practical knowledge to influence policymaking on Islamic finance internationally, especially in the 57-member countries of Organization of Islamic Cooperation (OIC). His current role is Director General of Cambridge Institute of Islamic Finance.

After a decade-long academic career, Dr Dar spent more than 13 years in investment banking, financial advisory, advocacy and high-level networking. He has founded a number of industry-building initiatives to promote IBF in various parts of the world. Some of his leadership projects include:

Global Islamic Finance Report – the oldest yearbook in IBF (founded in 2010)
ISFIRE – Islamic Finance Review – a bi-monthly jagazine (journal-magazine) published in London since 2011
Global Islamic Finance Awards – the most respectable Islamic finance awards programme in the world, which Dr Dar founded in 2011
Cambridge Islamic Finance Leadership Programme (founded in 2013)
Islamic Retail Banking Awards (since 2015)
Islamic Wealth Management Report – a new annual report on Islamic wealth management (first published in 2016)
Global Good Governance Awards (since 2016)
WOMANi – a new project to promote and advocate women participation in business and finance
Cambridge Institute of Islamic Finance (founded in 2019)

Dr Humayon Dar has been a member of a number of Shariah advisory boards in the UK, Malaysia and the UAE. He also serves on the International Islamic Finance Advisory Council of Astana International Financial Centre (AIFC).

Ms Eliza Ong Yin Suen

Member

Ms Eliza Ong Yin Suen

As the Managing Director / CEO of RHB Group Asset Management, Ms. Eliza Ong Yin Suen upholds the responsibility for the overall management and strategic direction of the asset management and trustee business in Malaysia, Singapore and Indonesia.

She holds more than 20 years of experience with exposure in global credit bureau, wholesale banking, asset structuring, as well as exposure in building and growing of asset management, wealth management, private banking and trustee across Australia, Hong Kong, Malaysia, Singapore and Indonesia.

Academically, Eliza holds a Master of Business (Banking and Finance) from Monash University, Australia, and is a senior associate member of Australasian Institute of Banking and Finance (AIBF), Certified Treasury and Finance Professional (CTFP) and Certified Financial Planner with FPAM.

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