Hussain Najadi, AIAK Group chairman and CEO
KUCHING: Hussain Najadi is a man of many labels.
Some may call him a political activist.
Others know of his rebellious streak in his youth as he attempted to lead Bahrain, his home country, towards independence.
But the one role that best defines Najadi in Malaysia is perhaps a financially-savvy banker.
His entrepreneurial drive in the world of business and finance helped Najadi not only to succeed in whatever endeavours he chose to pursue, but to also help shape the industry to where it is today.
This happened not only in the Gulf region but also here in South East Asia.
Closer to home, Najadi is no stranger in Malaysia’s corporate scene.
Back in 1975, the banker was one of the founding fathers of the Arab Malaysian Development Bank (AMDB).
Today, he is chairman and chief executive officer (CEO) of the AIAK Group, a corporate and advisory firm based in Kuala Lumpur, Malaysia.
Bes t known for having founded AMDB through the AIAK Group, Najadi is also the founding strategic adviser to number of commercial and investment banks in Malaysia.
Today, this bank is known as Ambank, which is currently Malaysia’s fifth largest banking group.
In an exclusive interview with BizHive Weekly, Najadi explained how he paved the way for numerous other business links between the Middle East, Southeast Asia and Europe.
“AIAK under my leadership has brought several banking ventures from overseas to Malaysia,” he said.
“AMDB was the first , nowadays, AIAK brought to Labuan and Kuala Lumpur, MEIB, Middle East Investment Bank, with UAE shareholders, Asia Fidelity Bank, from Ghana, Africa, and soon a major bank from a major BRIC countries.
“AIAK guides overseas direct investments into Malaysia and the region of Asia.”
To reach such a level of success, Najadi encountered several issues during his course of action, which included, “the elite world of high finance, the power play of big oil and the fickle fancy of politics,” according to excerpts from his autobiography.
In his book, ‘The Sea and the Hills: The Life of Hussain Najadi ’ , he described how he came to believe in the potential that Southeast Asia had to offer.
He was one of the first few who believed in the potential of Asia thriving as financial centres.
Additionally, Najadi became consult to both the Second Prime Minister, Tun Abdul Razak, as well as to the Fourth Prime Minister Tun Mahathir Mohamad, in his efforts to strengthen ties between the Southeast Asia and the Gulf.
These ventures not only culminated into the establishment of AMDB in 1975 but also of the International Islamic University of Malaysia in 1983, spurring the education sector further.
Such responsibility placed in his hands just shows how much Najadi is trusted.
His capabilities indeed are phenomenal as exemplified by his ability to look ahead and to know the industry’s trend, taking advantage of the situation despite meeting scepticism from others.
Najadi has faced a life of obstacles and has multiple successes and triumphs to show for it.
“If a banker or anyone stands for the integrity of banking under his command and becomes a true trustee of savers monies, he or she will face challenges and hard times,” he explained.
“I faced that in Bahrain and paid a heavy price for the sense of honesty and integrity and rules of law.
“ That is one of the main reasons behind writing my autobiography The Sea and the Hills.
For that reason, all bankers must see themselves as genuine trustees of people’s wealth and not its owners or masters.”
The banker was referring to his seven year stint in Bahraini prison due to political misunderstanding.
This, however, did not deter him from prevailing on with his personal believes in life.
“My plan in life embodies a sense of value we all should cherish and advance.
Men without values are just money making robots and machines.
Whatever we do must bring development – to the society we live in first and to ourselves second.
“Country first, ourselves second.
Then one could talk of achievements.
This motto must be engrained all over the place in this society or any other society if we have to prosper and be proud of ourselves.
Massing wealth cannot be the only answer.
“As said earlier, men of integrity, honesty must maintain the highest standard of corporate governance, here or there or anywhere.
Thus, I will do the same things again, as I must uphold such values throughout my life.”
When asked about his thoughts on Sabah and Sarawak, Najadi was very optimistic of the outlook for both states, citing that, “Both Sabah and Sarawak have very bright future in the years to evolve.”
“My former bank, Arab Malaysia Banking Group, way in 1970s, was the first development bank to finance water works, and electricity in Sabah, beside assisting in the formation of Sabah Development Bank, at the time of Chief Minister, Dato Harris Saleh,” he recalled.
“Also we, then, at AMDB, were the lead advisor and manager for arranging of US$ 1.5 billion dollar for the first Petronas liquefied natural gas plants in Bintulu, Sarawak.
“I am still today as ever attached to the Island of Borneo and to Sabah and Sarawak.
God has been kind to this great Island and its very friendly folks.”