Fasset, the global banking and investment platform, has appointed seasoned banker, Rafiza Ghazali, as Managing Director, Consumer Banking, as the company accelerates the rollout of regulated consumer and SME banking services following its provisional approval from Malaysia’s Labuan FSA regulator 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 has led the end-to-end establishment and public launch of KAF Digital Bank, Malaysia’s second Islamic digital bank, from initial setup through full operationalisation, placing her among a small group of leaders in Southeast Asia with firsthand experience overseeing a digital bank across its full lifecycle.
Rafiza Ghazali said: “Fasset’s mission to expand financial access and build inclusive digital infrastructure regardless of geography or background strongly resonates with me, and I look forward to shaping their consumer banking operations and deepening engagement that serves both global aspirations and local needs.”
Effective as of 1 February 2026, the appointment aligns with Fasset’s ambition to build trusted, Shariah-aligned banking services anchored in regulatory discipline and institutional-grade governance that can be used by customers across the world. The platform is currently amongst the fastest growing Islamic digital investment platforms, with 1 million retail app downloads in 2025, USD 12B annualized volume, and an enterprise user base of over a thousand SMEs.
In her new role, Rafiza will drive Fasset’s global stablecoin-led banking strategy with a focus on retail, private, SME, and trade finance segments. She will also be responsible for scaling digital banking operations from Malaysia under the Labuan regulatory framework, leveraging Fasset’s multi-jurisdictional banking and compliance infrastructure across the world.
Prior to her role at KAF Digital Bank, Rafiza served as Group CEO of Cradle Fund Sdn Bhd, where she led the transformation of Malaysia’s startup support framework in partnership with government ministries. Her earlier career spans senior roles across both public and private financial institutions. These include executive positions at RHB Investment Bank, Bank Negara Malaysia, Thomson Reuters, and Cagamas. Together, these experiences align closely with Fasset’s objective to scale consumer banking operations that meet the expectations of regulators, institutional partners, and global markets.
Mohammad Raafi Hossain, CEO and Co-Founder of Fasset, added: “Rafiza brings firsthand end-to-end experience in building and running a regulated digital bank. Her knowledge of the Islamic finance world also enables us to build on our foundations to become a multi-jurisdictional Shariah-compliant digital bank. We’re excited to welcome her to our leadership team as we shift from licensing to execution in our mission to scale trusted, Shariah-aligned banking infrastructure.”