PayNet announces leadership transition: Farhan Ahmad decides to end his tenure as group CEO

• Board appoints Praveen Rajan as CEO-designate, effective 1 Dec, 2025
• Farhan has led PayNet since 2022, spearheading major growth & transformation

Payments Network Malaysia Sdn Bhd (PayNet) has announced that group CEO Farhan Ahmad (pic) will step down from his role effective 31 January 2026.

In a statement, the company said the board has appointed Praveen Rajan as CEO-designate, effective 1 December 2025. Praveen, currently chief consumer business officer of CelcomDigi Berhad, brings over two decades of experience in mobile telecommunications and digital industries, with a proven track record in regulated, tech-driven transformations, consumer strategy, and innovation.

Farhan has led PayNet since early 2022, steering the organisation through a period of significant growth and transformation. Under his leadership, PayNet has:

Increased transaction volume by 275%, from three billion to over eight billion, while advancing Malaysia’s DuitNow real-time payments infrastructure into one of the most advanced and reliable systems globally.

Launched flagship financial inclusion programmes such as PayNet Cambah, building digital prosperity for underserved communities, and PayNet Akar, developing future-ready digital skills for Malaysian youth.

Positioned PayNet at the forefront of global cross-border payments and advanced key national initiatives in digital innovation, including the National Fraud Portal and the PayNet Fintech Hub.

Izzaddin Idris, chairman of PayNet, said: “On behalf of the board of directors, I wish to thank Farhan for his exceptional leadership and unwavering commitment to advancing Malaysia’s national payments infrastructure, the core mandate of PayNet. We also look forward to welcoming Praveen as CEO-designate. His experience in digital transformation and customer-centric growth will be invaluable as PayNet enters its next phase.”

Farhan Ahmad said: “It has been an honour to serve at the helm of PayNet. I am proud of what we have achieved together, and I look forward to seeing PayNet continue to succeed in the years ahead, while I pursue the next chapter of my personal journey.”

The leadership transition will be managed carefully over the coming months to ensure a smooth handover, with the leadership team continuing to execute PayNet’s strategic roadmap with stability and focus.