Malaysia — Payments Network Malaysia Sdn Bhd (PayNet) has introduced a leadership transition, with Praveen Rajan appointed as CEO-Designate effective December 1, 2025, while Farhan Ahmad, the current group CEO, will continue to serve his role until January 31, 2026.
Praveen will be working with Encik Farhan during the transitionary period.
Currently, he is the chief consumer business officer at CelcomDigi and brings over two decades of experience in mobile telecommunications and the digital industry, with expertise in regulated, technology-driven transformations, consumer strategy, and innovation.
“We 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,” Dato’ Izzaddin Idris, chairman of PayNet, stated.
He added, “I also wish to thank Farhan for his exceptional leadership and unwavering commitment to advancing Malaysia’s national payments infrastructure, the core mandate of PayNet.”
Since taking on the role in early 2022, Farhan has overseen major growth at PayNet. Transaction volumes increased by 275%, from three billion to more than eight billion, cementing Malaysia’s DuitNow real-time payments as one of the most advanced systems globally.
He also introduced financial inclusion programmes such as PayNet Cambah and PayNet Akar, which expanded digital access and skills.
“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,” Farhan commented.
Farhan positioned the company at the forefront of cross-border payments while advancing national digital innovation initiatives, including the National Fraud Portal and the PayNet Fintech Hub.
