On 4 June 1965, "Kongres Ekonomi Bumiputra" (Bumiputra Economic Congress), sponsored by the Ministry of National and Rural Development, were held in Kuala Lumpur for 3 days to generate an interest among Malays and other local indigenous groups to participate in commerce and industry.
[1] Tun Abdul Razak, the then Deputy Prime Minister of Malaysia announced that the Government had agreed to form a local Bank ("Bank Bumiputra") as recommended by the Economic Congress based on a majority of the 69 resolutions achieved in the meeting.
On 15 July 1965, Tun Abdul Razak announced the Government agreed to provide RM5 million as the initial capital for Bank Bumiputra.
Ubaidulla (President of United Chamber of Commerce), L.E Osman (a lawyer), K. Mushir Ariff (an incorporated valuer), Wan Yahya bin Haji Mohamad (a businessman from Terengganu), K.D.
The General Manager of the Bank was Wong Aun Pui, a prominence local banker with 20 years of experience and director of many rubber and palm oil companies.