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The
Development Bank of American Samoa (DBAS) was
established by the American Samoa Government (ASG)
through legislation in 1969 to:
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Provide American Samoa with lending and investment
facilities;
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Assist in the promotion of private enterprise; and
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Meet the needs of developing the economy of American
Samoa.
The
DBAS conducts its operations as per the provisions of
Title 28 of the American Samoa Code Annotated.
As a
development bank, the DBAS intends to complement
commercial banking activity and acts as a "lender of
last resort" in American Samoa. The bank, however,
operates strictly in accordance with sound commercial
banking practices in order to maintain continuity or
operations and financial strength. The Bank also
attaches due regard to the general framework of the
ASG's economic policies, plans and priorities in
implementing its financial (lending and non-lending)
programs. |
