Malaysia Development Bank

Bank Pembangunan Malaysia Berhad (BPMB; English: Malaysia Development Bank Limited, formerly known as Bank Pembangunan dan Infrastruktur Malaysia or Malaysia Infrastructure and Development Bank), also known simply as Bank Pembangunan is a development bank in Malaysia.[2] The bank's activities are to provide medium to long-term financing to capital-intensive industries, which include infrastructure projects, maritime and high technology sectors and making a number of strategic investments.[2] It is owned by the Minister of Finance Incorporated.[3]

Bank Pembangunan Malaysia Berhad
FormerlyBank Pembangunan dan Infrastruktur Malaysia[lower-alpha 1]
TypePublic
Industry
FoundedNovember 28, 1973 (1973-11-28)
Headquarters
Kuala Lumpur
,
Malaysia
Area served
Nationwide
Key people
  • Arshad Mohammed Ismail (President and CEO)
  • Zaiton Mohd Hassan (Chairman)[1]
OwnerMinister of Finance Incorporated
Websitewww.bpmb.com.my

Established under the Malaysia's Companies Act 1965 on 28 November 1973,[2] their initial objective was to assist entrepreneurs involved in small and medium-sized industries through the provision of various financing facilities, training and entrepreneurial advisory services.[2] In addition to providing direct financing, Bank Pembangunan through its subsidiaries and associated companies facilitates the growth of Malaysia's strategic economic sector.[2][4]

In 2019, Bank Pembangunan and Danajamin receive approval from Bank Negara Malaysia on account of merger plans.[5]

In 2020, the bank was one of list of banks to provide assistance to customers whose business operations affected by the COVID-19 pandemic.[6]

See also

Notes
  1. The Bank was initially known as Bank Pembangunan Malaysia Berhad in 1973, later renamed as Bank Pembangunan dan Infrastruktur Malaysia Berhad in 1998. The bank reverted to its original name in 2005.

References
  1. Wong Ee Lin (7 March 2019). "Bank Pembangunan looks start afresh 'as soon as possible', says Zaiton". The Edge Markets. Retrieved 24 May 2020.
  2. "BPMB: Corporate Info". Bank Pembangunan Malaysia Berhad. Retrieved 30 April 2017.
  3. "Newsbreak: Changes at the helm of Bank Pembangunan". The Edge Markets. 22 October 2018. Retrieved 30 April 2019.
  4. Adeline Paul Raj (8 October 2019). "Bank Pembangunan looks start afresh after scandal". The Edge Markets. Retrieved 30 April 2020.
  5. "Bank Pembangunan, Danajamin receives BNM approval for merger talks". The Star Online. 23 December 2019. Retrieved 30 April 2020.
  6. Emir Zainul (10 February 2020). "Bank Pembangunan joins growing list of banks helping customers affected by Wuhan virus outbreak". The Edge Markets. Retrieved 24 May 2020.
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