By Amanda L
KUCHING, Nov 17: The Development Bank of Sarawak (DBOS) has unveiled an Islamic banking window designed to expand the State’s access to Sharia-compliant financing, particularly for sectors such as renewable energy, telecommunications, rural development, and major public infrastructure.
Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg said the initiative positions DBOS to support a wider range of strategic projects that align with Sarawak’s long-term economic transformation.
“With this Islamic banking window, DBOS can participate in more sectors that require Sharia-compliant financing. This will strengthen development in areas such as renewable energy, rural growth, and critical infrastructure,” he said at the Development Bank of Sarawak’s (DBOS) Integrity Day at a hotel in Kuching, today.
He noted that Sarawak’s journey towards an advanced and sustainable economy demands diverse financing instruments capable of meeting both commercial goals and policy-driven development needs.
Abang Johari explained that the Islamic banking platform forms part of the State’s strategy to attract new investors, mobilise capital, and ensure inclusive financing for communities and industries that prefer or require Sharia-based solutions.
“Sarawak’s growth trajectory, particularly under the Post Covid-19 Development Strategy (PCDS) 2030, depends on well-structured financial institutions that can drive economic expansion while supporting broader social objectives,” he said.
The Premier highlighted DBOS’s central role in accelerating projects spanning renewable energy, digital connectivity, transportation networks, and other critical infrastructure aimed at improving the quality of life.
“This is part of our effort to build a resilient economic ecosystem. We want DBOS to continue expanding its capacity to finance strategic development that benefits the people,” he added.
He expressed confidence that DBOS, with its expanded mandate, will continue supporting Sarawak’s ambition to cultivate modern industries, foster innovation, and ensure growth reaches both urban and rural communities. — DayakDaily
