Development Bank of Sarawak
The Development Bank of Sarawak Berhad (DBOS) was incorporated on 11 May 2017 as a public company limited by shares. DBOS is to carry on business as a Development Financial Institution and lending activities with sources of funding from capital injections from DBOS’ holding company, Sarawak Government’s deposits and deposits from Sarawak Government’s statutory bodies and linked companies. Its role is to support the Sarawak Government’s efforts in the development of strategic infrastructure projects. History The bank was first approved on 31 March 2017 by Malaysian prime minister Najib Razak. The bank's logo was crowd-sourced with a logo design competition among Sarawakians. The bank received a paid up capital of RM500 million when it starts operations on 15 January 2018. By July 2019, the bank's paid-up capital (money that are not borrowed out) increased to RM 1 billion. In November 2020, the bank is listed inside the Malaysian Ministry of Finance Institution list. By December 2021, the bank's paid-up capital increased to RM 1.4 billion. Corporate affairs The first CEO of the bank is Dato Sim Kheng Boon. Deputy state financial secretary Datu Laura Lee Ngien Hion is appointed into the board of directors. DBOS receives deposits from government-linked companies,