DBOS strengthens financial offerings with new Islamic Banking Window

Venue: Riverside Majestic Hotel, Kuching

The Development Bank of Sarawak (DBOS) has expanded its financial offerings and reinforced its commitment to inclusive, value-based development with the launch of its Islamic Banking Window, DBOS Hana.

YAB Premier Datuk Patinggi Tan Sri (Dr) Abang Haji Abdul Rahman Zohari bin Tun Datuk Abang Haji Openg said DBOS Hana, guided by Shariah principles, upholds the values of fairness, justice, social responsibility, and integrity during the launch.

Citing Standard Chartered Bank’s report ‘Islamic Banking for Financial Institutions: Unlocking Growth Amidst Global Shifts’, Abang Johari said Shariah-compliant financial assets, including Islamic banking, sukuk (Islamic bonds), and investment funds exceeded US$5.5 trillion in 2024 and are expected to reach US$7.5 trillion by 2028.

“The global Islamic finance sector has witnessed a remarkable growth in the post-pandemic era. This presents a timely and strategic opportunity for DBOS to position Sarawak within the global Islamic finance ecosystem—ushering in a new era defined by scale, sustainability, and strategic integration,” said Abang Johari during the launch of DBOS Hana.

Meanwhile, DBOS chairman Tan Sri Datuk Amar Mohamad Morshidi Ghani said the launch demonstrates DBOS’ commitment to responsible financing that is ethical, inclusive and accountable, benefiting the wider community.

Morshidi added that the DBOS Islamic Banking Window creates opportunities for more Islamic-based financing, and the sector is growing very fast in Malaysia and out of the total loan, 47 per cent is Islamic banking and is growing fast every year.

During the same event, DBOS was awarded the Shariah certificate for Banking Products by the Islamic Banking and Finance Institute Malaysia.

Four strategic collaboration agreements were also signed between DBOS and the Public Works Department Sarawak (JKR Sarawak), Sarawak Artificial Intelligence Centre Sdn Bhd (SAIC), Sarawak Digital Economy Corporation Berhad and RAM Rating Services Berhad. – Borneo Post

Abang Johari (second left) launches DBOS Islamic Banking Window, DBOS Hana as Tan Sri Morshidi Abdul Ghani, Chairman of DBOS (left), State Legislative Assembly Speaker Tan Sri Datuk Amar Mohamad Asfia Awang Nassar (right) and CEO of DBOS, Datu Laura Lee Ngien Hion, look on. — Penerangan Photo

Source of News: Borneo Post