PayNet's Board Members

Payments Network Malaysia Sdn Bhd (PayNet) has a seven-member Board of Directors comprising of representatives from Bank Negara Malaysia (BNM), Financial Institutions and industry experts. The Board of Directors is primarily responsible for the governance and management of the business as well as to ensure the financial health of the Company. The Board is assisted by three Board Committees, namely the Nomination and Remuneration Committee, Board Risk Committee and Board Rules Committee.


Among others, the responsibilities of the Board are as follows:

  • Formulate and establish the broad policies governing the operations of PayNet Group.

  • Establish the corporate objectives, as well as to review, approve and guide the formulation of the corporate strategies and business plans, budget and monitor its implementation.

  • Oversee the management of the company business to maintain the corporate performance, involving monitoring of the performance of the institution.

  • Oversee human resource management, performance monitoring of key personnel, succession planning and training programs.

Mr. Donald Joshua Jaganathan was appointed as Chairman of the Board on the 14th February 2018.

He is also the Assistant Governor responsible for Bank Negara Malaysia’s (“BNM”) banking and insurance supervision function. Apart from being a member of BNM’s Management Committee, he serve as member of the Bank’s Reserve Management Committee, the Financial Stability Committee and the Risk Management Committee.

Mr. Donald graduated with a Bachelor of Accounting (Hons) degree from the University of Malaya, is a Chartered Accountant (CA) member of Malaysian Institute of Accountants. He holds a MBA degree from Cranfield School of Management, United Kingdom and is an alumnus of the Advanced Management Program, Harvard Business School.

He is a Fellow Chartered banker (FCB) and a Council Member of the Asian Institute of Chartered Bankers, the Chairman of its Education Committee and is also a member of the Board of Directors of the Asian banking School (ABS). Donald is an ex- officio member of the Malaysian Financial Reporting (FRF) and is also the Malaysian respective on the Basel Committee on Banking Supervision (BCBS)

Mr. Tan Nyat Chuan was appointed as a Board Member on the 25th January 2017.

He joined Bank Negara Malaysia in 1987. During his 30 years with the Central Bank, he spent 10 years in the Banking Supervision Department, 5 years in treasury risk management in the Investment Operations and Financial Markets Department, 5 years in the Payment Systems Policy Department, 4 years as the Director of the Internal Audit Department and has been in his current position as the Director of Payment Systems Policy Department for the past 4 years.

He holds a Bachelor Degree of Business Administration from the University of Iowa, USA and a MBA from the Manchester Business School, United Kingdom.

Datuk Farid was appointed as a Board Member on 1st August 2017.

He is also the Group Managing Director/Chief Executive Officer of Maybank Berhad.

Datuk Farid has over 20 years’ of experience in investment banking, corporate finance and capital markets, having served with various investment and merchant banks. He also was named CEO of the Year at the ASEAN Business Awards Malaysia 2015, which recognises outstanding enterprises in the ASEAN business community.

Datuk Farid is also the Chairman of The Association of Banks in Malaysia, Vice Chairman and a Fellow, Chartered Banker of Asian Institute of Chartered Bankers (AICB) and the Chartered Banker Institute (CBI), United Kingdom. He is also a member of ASEAN Business Advisory Council (ASEAN-BAC) Malaysia, Asian Bankers Association Policy Advocacy Committee, Visa Asia Pacific Senior Client Council, Emerging Markets Advisory Council of The Institute of International Finance, Washington DC and the Investment Panel of Kumpulan Wang Persaraan (Diperbadankan) (KWAP)

Datuk Farid holds a Masters of Business Administration (Finance) degree from University of Denver, United States, and a Bachelors of Science in Accounting degree from Pennsylvania State University, USA. Datuk Farid is also an alumnus of the Advanced Management Programme, Harvard Business School, Harvard University, United States.

Dato' Khairussaleh was appointed as a Board Member on 1st August 2017.

He is also the Group Managing Director/Group Chief Executive Officer of RHB Banking Group.

Dato' Khairussaleh has more than 20 years of experience in the financial services and capital markets industry, where he has held senior positions in well-established regional financial institutions. He is also a Council member of The Association of Banks in Malaysia and Asian Institute of Chartered Bankers.

He holds a Bachelor of Science in Business Administration from Washington University, St. Louis and is a graduate of the Advanced Management Programme, Harvard Business School. He is also a Fellow of the Asian Institute of Chartered Bankers.

Dato’ Khairussaleh’s currently holds other directorships in various public companies which include RHB Indochina Bank Limited, RHB Bank Lao Limited, RHB Securities (Thailand) Public Company Limited and RHB Capital Berhad (In Member’s Voluntary Winding Up). He is also the Chairman/Trustee of RHB Foundation.

Mr Philip Tan was appointed as Board Member on 2nd January 2009. He is also the Chairman of the Board’s Nomination & Remuneration Committee. In addition, he also acts as Chairman for several of PayNet’s subsidiaries companies namely Malaysian Electronic Payment System Sdn Bhd (“MEPS”) and MEPS Currency Management Sdn Bhd.

Mr Tan has an extensive experience in the banking and finance industry with more than 24 years of practice principally in treasury and risk management. He was previously the Managing Director, Vice President and Chief Financial Officer of Emerging Market (EM) Sales & Trading, Asia Pacific of Citibank NA.

His passion in banking and finance had led him to serve the Persatuan Pasaran Kewangan Malaysia where he was the pioneer member of the technical committee. He has conducted and spoken at numerous seminars on treasury, risk management and financial market developments to corporations, financial community and central banks including Bank Negara Malaysia, Bank Indonesia and the State Bank of Vietnam. He also serves the Institut Bank-Bank Malaysia (IBBM) as a lecturer and examiner, and is an Associate Fellow of IBBM.

Mr Philip Tan is also a Board Member of Danajamin Nasional Berhad, MIDF Amanah Investment Bank Berhad, S P Setia Berhad, Citibank Berhad, Qinzhou Development (Malaysia) Consortium Sdn. Bhd. and China-Malaysia Qinzhou Industrial Park (Guangxi) Development Co. Ltd.

Mr Michael Walters was appointed as a Board Member on 1st August 2013.

Mr Michael has 25 years of experience in payments, cards and financial services. In his career, he has held both leadership and advisory roles in Asia Pacific, Europe and North America from Start-Ups to multinationals, and has deep knowledge of the payments industry across numerous markets.

He is currently a Portfolio Manager with ICM Limited, a Bermuda-based fund manager, where he manages investments globally related to payments, transit and telecommunications. Prior to joining ICM, Michael was the Chief Operating Officer at eNett International, a travel-industry B2B payments organization, where he was responsible for marketing, technology, operations and support functions internationally. He joined eNett from global consulting firm Edgar, Dunn & Company, where he was a main-Board Director and consultant with respect to strategy, innovation and infrastructure to a wide variety of payment schemes, processors, financial institutions and vendors, particularly in the Asia Pacific region.

Mr Michael holds a Bachelor of Commerce degree from Australian National University majoring in management accounting and information technology.

Tan Sri Dato’ Sri Zamzamzairani Mohd Isa was appointed as a Board Member on 17th May 2018.

Tan Sri Dato’ Sri Zamzamzairani is currently the Chairman of the Board of UEM Sunrise Berhad. He also sits on the Board of UEM Group Berhad as Non-Independent Non-Executive Director. His directorships in other public companies include Malaysia Airlines Berhad, Malaysia Aviation Group Berhad and Pos Malaysia Berhad.

Tan Sri Dato’ Sri Zamzamzairani holds a Bachelor of Science in Communications Engineering from United Kingdom and has completed the Corporate Finance, Strategies for Creating Shareholder Value programme at Kellogg School of Management, Northwestern University, United States of America. He has also attended the Strategic Leadership Programme at the University of Oxford’s Saïd Business School and the IMD CEO Roundtable at Lausanne, Switzerland in 2013.