Fasset Appoints Rafiza Ghazali to Lead Launch of World’s First Stablecoin-Based Islamic Digital Bank

DUBAI — Fasset, the global digital banking and investment platform, has announced a landmark leadership appointment as it gears up to disrupt the Islamic finance sector. Rafiza Ghazali will join the firm as Managing Director – Consumer Banking, effective February 1, 2026.

The appointment is a strategic move for Fasset as it prepares to launch the world's first stablecoin-based Islamic digital bank. This initiative follows a provisional regulatory approval from Malaysia’s Labuan Financial Services Authority, positioning Fasset at the intersection of blockchain technology and Sharia-compliant finance.

A Veteran Architect of Digital Banking

• Rafiza Ghazali is widely regarded as a pioneer in the Malaysian digital banking landscape. Her expertise is uniquely suited for Fasset’s ambitious roadmap:
• Proven Track Record: She successfully led the end-to-end establishment and launch of KAF Digital Bank, Malaysia’s second Islamic digital bank.
• DeepLeadership Experience: With over 20 years in the sector, her career spans Bank Negara Malaysia, RHB Investment Bank, and Thomson Reuters.
• Ecosystem Builder: As the former Group CEO of Cradle Fund, she played a pivotal role in modernizing Malaysia’s startup and venture capital ecosystem.

Scaling Global Operations from Malaysia

In her new capacity, Ghazali will be responsible for Fasset's global strategy across four key pillars:

• Retail & Private Banking: Developing digital-first wealth management and consumer accounts.
• SME Services: Tailoring trade finance and business banking for small and medium enterprises.
• Regulatory Navigation: Guiding Fasset through multi-jurisdictional compliance as it expands from its Malaysian base.
• Operational Scaling: Overseeing the technical and operational rollout of the digital bank's services.

Strategic Vision: Stablecoins and Sharia Finance

Fasset’s model aims to solve traditional cross-border friction by utilizing stablecoins to facilitate Sharia-compliant transactions. By bringing in one of the few executives globally who has built a digital bank from the ground up, Fasset is signaling its intent to move beyond "crypto-investment" and into the realm of fully regulated, high-utility retail banking.