Fasset appoints Rafiza Ghazali to lead its evolution into a full-service digital bank

• Brings two decades of expertise in digital, Islamic, and consumer banking
• Effective 1 Feb 2026, she will drive Fasset’s Shariah-compliant banking for global customers

Fasset, a global banking and investment platform, has appointed seasoned banker Rafiza Ghazali (pic) as managing director, Consumer Banking, as it accelerates the rollout of regulated consumer and SME banking services following provisional approval from Malaysia’s Labuan FSA to launch the world’s first stablecoin-based Islamic digital bank.

Rafiza brings over two decades of experience across central banking, capital markets, Islamic finance, and digital banking. She previously led the full launch of KAF Digital Bank, Malaysia’s second Islamic digital bank, from initial setup to full operations, placing her among a select group of leaders in Southeast Asia with experience overseeing a digital bank across its entire lifecycle.

“Fasset’s mission to expand financial access and build inclusive digital infrastructure, regardless of geography or background, strongly resonates with me,” Rafiza said. “I look forward to shaping our consumer banking operations and deepening engagement to serve both global aspirations and local needs.”

Effective 1 February 2026, her appointment supports Fasset’s ambition to build trusted, Shariah-aligned banking services anchored in regulatory discipline and institutional-grade governance, accessible to customers worldwide.

The platform claims to be among the fastest-growing Islamic digital investment platforms, with 1 million retail app downloads in 2025, US$12 billion (RM48 billion) annualised volume, and an enterprise user base of over 1,000 SMEs.

In her new role, Rafiza will lead Fasset’s global stablecoin-based banking strategy across retail, private, SME, and trade finance, while scaling digital banking operations from Malaysia under the Labuan regulatory framework and leveraging Fasset’s multi-jurisdictional banking and compliance infrastructure worldwide.

Prior to KAF Digital Bank, Rafiza served as group CEO of Cradle Fund Sdn Bhd, transforming Malaysia’s startup support framework alongside government ministries. Her career also spans senior roles at RHB Investment Bank, Bank Negara Malaysia, Thomson Reuters, and Cagamas—experience that aligns closely with Fasset’s goal to scale consumer banking operations to meet regulatory, institutional, and global expectations.

Mohammad Raafi Hossain, CEO and co-founder of Fasset, added: “Rafiza brings end-to-end experience in building and running a regulated digital bank. Her knowledge of Islamic finance strengthens our foundations as we grow into a multi-jurisdictional Shariah-compliant digital bank. We’re excited to welcome her as we shift from licensing to execution in scaling trusted, Shariah-aligned banking infrastructure.”