Sarawak Sovereign Wealth Future Fund Board Ordinance, 2022 (Chapter 81).

This Ordinance, consisting of 61 Sections and four Schedules, aims to establish the Sarawak Sovereign Wealth Future Fund Board, responsible for managing and investing state funds for sustainable growth and future generations. The Fund consists of the Investment Fund Account and the Endowment Fund Account, and the Board is responsible for managing and growing the Fund, investing its assets, and acting as custodian of all Fund assets. It has the authority to enter into contracts, acquire property, and employ necessary personnel. The Ordinance details the financial management and reporting obligations of the Board, which has to prepare annual estimates, maintain accounts, and undergo audits. An annual report and quarterly reports are required to ensure transparency and accountability. An Investment Advisory Panel is established to provide expert advice on investments. The Board is also required to establish specific committees to oversee various functions. Committees include the Investment, Risk, Remuneration, Internal Audit, and Shariah Advisory Committees. The Investment, Shariah Advisory, and Investment Advisory Panel manage strategy and compliance; the Risk, Internal Audit, and Remuneration Committees oversee risk, controls, and compensation. All functions support the Board's compliance with the Investment Mandate for maximizing long-term returns .