Development Bank of Sarawak

The Development Bank of Sarawak (DBOS) is a development bank based in Sarawak that is owned and operated by the state government.[1]

History

The bank was first approved on 31 March 2017 by Malaysian prime minister Najib Razak.[2]

It will begin operations on 1 January 2018.[3]

The bank's logo was crowd-sourced with a logo design competition among Sarawakians.[4] The bank is to have a paid up capital of RM500 million when it starts operations on 1 January 2018.[5]

Management

The first CEO appointed is Sim Kheng Boon, who is from the banking sector. The board of directors comprises Deputy State Financial Secretary Datu Laura Lee Ngien Hion, Dato Sharkawi Alis, is a lawyer heading various business entities in the property, investment and insurance sector; Christopher Adrian is a successful consultant engineer who is involved with various infrastructure development projects in the state, while Ho Swee Huat, also with a vast experience in the securities and banking industries.[5]

References
  1. http://www.thestar.com.my/news/nation/2017/04/04/development-bank-of-sarawak-to-be-set-up-soon/
  2. http://www.beritadaily.com/development-bank-of-sarawak-to-boost-state-economically/
  3. http://www.theborneopost.com/2017/06/18/development-bank-of-sarawak-to-start-operations-on-jan-1-next-year-cm/
  4. "RM5,000 for DBOS logo design contest winner". BorneoPost Online | Borneo , Malaysia, Sarawak Daily News. 2017-09-05. Retrieved 2017-11-15.
  5. "DBOS to have RM500 million in paid-up capital by Jan 2018". BorneoPost Online | Borneo , Malaysia, Sarawak Daily News. 2017-11-03. Retrieved 2017-11-15.
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