IOUpay Limited and the Board of Directors announced the appointment of Dato' Wan Ahmad to the Company's board of directors as non-executive director and elected non-executive Chairman effective from 30 June 2022. He replaces the immediately prior Interim Chairman Mr. Lee Chin Wee, who remains on the Board as an Executive Director, and will formally continue to fulfil the duties of the Group Chief Executive Officer function. Mr. Wan Ahmad is based in Kuala Lumpur and brings more than 25 years of corporate advisory and investment banking experience with some of Malaysia's leading financial institutions.

He is currently one of nine members of the Market Participants Committee of Malaysia's national securities exchange, Bursa Malaysia. He is also the current Chairman of the Association of Corporate Finance Advisers (Malaysia) and a Corporation Member of Pahang State Development Corporation. Currently, Mr. Wan Ahmad is the Managing Principal of DWA Advisory Sdn Bhd (DWA), a corporate advisory firm he established in 2013, where he has successfully led a team of 12 personnel and has been involved in mergers and acquisitions and fundraising activities with a cumulative transaction value of more than AUD 1.5 billion.

Prior to DWA, Mr. Wan Ahmad spent close to a decade in various senior executive roles with Maybank Investment Bank Berhad, Kuala Lumpur including, EVP/Head of Islamic Capital Markets and EVP/Head of Dealing, Equity Capital Markets, which culminated in his appointment as Chief Operating Officer of the bank's Saudi Arabia division in 2009. Mr. Wan Ahmad holds a Bachelor of Business Administration (1989) and a Master of Business Administration (1996) from Temple University, Philadelphia, USA.