Hussain Najadi
Hussain Najadi | |
|---|---|
| Born | circa 1938 Bahrain |
| Died | 29 July 2013 Kuala Lumpur, Malaysia |
| Occupation(s) | Banker, businessman |
| Known for | Chairman and CEO of AIAK Group; founder of Arab Malaysian Development Banking Group (AmBank) |
Hussain Najadi (; circa 1938 – 29 July 2013) was a globally recognized banker, born in Bahrain to parents of Persian origin. He held the positions of Chairman and CEO at the AIAK Group headquartered in Kuala Lumpur, Malaysia.
Banking career
Beginning in 1974, Najadi pioneered as the first Bahraini merchant banker to establish financial links between Middle Eastern nations and the economies of Malaysia along with other ASEAN countries. In 1975, AIAK Group launched the Arab Malaysian Development Banking Group (AMDB), which expanded from an initial paid-up capital of $2 million into a $32 billion banking institution across Asia. AMDB evolved into one of Malaysia’s foremost banks, later rebranding as AmBank in 2002.
Between 1978 and 1985, Najadi was appointed by the Governor of the Central Bank of Malaysia as a non-executive independent director at Malaysian Industrial Development Finance Berhad.
Diversification of activities
In 1968, Najadi took ownership of Supramar AG, a Swiss company specializing in hydrofoils based in Lucerne, which he developed into a global enterprise operating over 200 hydrofoil routes worldwide. Additionally, he served as chairman of Free2move Asia—a collaboration with Sweden’s Free2move AB focusing on RFID and sensor technologies—until its complete acquisition by Free2move Holdings AB in August 2010.
Education
Najadi established and led the EURO-ASIAN CENTER at INSEAD, France from 1977 to 1985, where he also delivered lectures on business management with an emphasis on Asian markets. He was notably the inaugural chairman representing developing nations at the Davos Economic Symposium, now known as the World Economic Forum.
Assassination
On 29 July 2013, Najadi was tragically assassinated in Kuala Lumpur. His Malaysian-Chinese spouse, Cheong Mei Kuen, was critically wounded during the attack that took place shortly after they departed from Guan Yin Temple. The assailant fired at close proximity before fleeing alongside accomplices.
Following investigations, authorities arrested multiple suspects on 5 August 2013, including one male and two female individuals. Taxi driver Chew Siang Chee faced charges related to firearm possession. The individual identified as the shooter, Koong Swee Kwan, was detained on 23 September 2013 and charged with Najadi’s homicide.
Najadi’s son, Pascal Najadi, a Swiss banker residing in Moscow, connected his father’s murder to efforts exposing corruption within Malaysia and chose not to return until justice was achieved.
On 5 September 2014, Koong was found guilty of murder and sentenced to death; he also received an additional 18-year prison term for attempted murder against Najadi’s wife. The police concluded their investigation in November 2015. Malaysia’s Federal Court upheld Koong’s death sentence in March 2021 and reaffirmed it again in August 2024 after all appeals were dismissed.
External links
- 1938 births
- 2013 deaths
- Malaysian bankers
- Bahraini emigrants to Malaysia
- People murdered in Malaysia
- Malaysian murder victims
- Deaths by firearm in Malaysia
- Date of birth missing
- Malaysian company founders
- Malaysian chairpersons of corporations
- Malaysian people of Iranian descent
- Naturalised citizens of Malaysia
- 2013 murders in Malaysia