Sarawak Enhances Islamic Financial Offerings Through DBOS

KUCHING, Nov 17 (Bernama) -- The launch of the Islamic Banking Window by the Development Bank of Sarawak (DBOS) not only strengthens its financial offerings but also reinforces Sarawak’s commitment to inclusive, value-based development.

Sarawak Premier Tan Sri Abang Johari Tun Openg said the initiative presents a timely and strategic opportunity for DBOS to position Sarawak within the global Islamic financial ecosystem, ushering in a new era defined by scale, sustainability and strategic integration.

“The global Islamic finance sector has experienced remarkable growth in the post-pandemic era, presenting new opportunities for Sarawak to position itself within the international Islamic finance landscape.

“According to Standard Chartered Bank’s report on Islamic Banking for Financial Institutions: Unlocking Growth Amidst Global Shifts, shariah-compliant financial assets -- including Islamic banking, sukuk and investment funds -- surpassed US$5.5 trillion in 2024. These assets are projected to reach US$7.5 trillion by 2028,” he said (US$1=RM4.1).

Abang Johari said this when officiating DBOS Integrity Day, themed “Advancing Sarawak with Integrity”, and launching the DBOS Islamic Banking Window here today.

He said that the initiative marks a significant step for DBOS in positioning Sarawak within the rapidly expanding global Islamic finance ecosystem.

-- BERNAMA