[10] From 2017 to 2019, Tengku Zafrul completed his second master's degree in business administration (MBA) at Tsinghua University PBCSF (People's Bank of China School of Finance).

He is also the main investor behind Tune Money Sdn Bhd, Asia's first "no-frills" online financial service provider as well as its CEO and substantial shareholder.

On 9 March 2020, Tengku Zafrul announced his resignation as CIMB group chief executive officer before being appointed minister of finance.

[11] As one of the three millionaire judges on The Firm, the other two beings Peter Pek and Chan Boon Yong, he is considered one of Malaysia's few corporate celebrities.

He embarked on a task to assist the people and industry in the implementation of the Prihatin Rakyat Economic Stimulus Package during the outbreak of the COVID-19 pandemic in Malaysia.

[20] Tengku Zafrul also explains the economic recovery plan will be announced after Aidilfitri to revive the affected economy of Malaysia.

[21][22] Under the Short-Term Economic Recovery Plan (PENJANA), Tengku Zafrul has launched the ePenjana credit program worth RM750 million to aimed at boosting consumer spending in Malaysia.

In June 2022, Tengku Zafrul announced the largest subsidies and cash aid package in Malaysian history (77.3 billion ringgit) for the year 2022, in order to temper the effect of inflation.

[25] Tengku Zafrul has also served as the State Treasurer of BN of Selangor since July 2022 and Division Chief of UMNO of Kota Raja since March 2023.

[26][27][28][29] Currently, Tengku Zafrul is also a member of the UMNO Supreme Council after he won the post in the 2023 United Malays National Organisation leadership election.

[11] His interests include keeping fit through running, cycling and swimming, and developing the youth through his participation in various organisations such as the Kalsom Movement and Teach for Malaysia.