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Labuan Financial Services Authority Report 2015 Launch (Labuan)
The Labuan Financial Services Authority (Labuan FSA) released its Annual Report for 2015 on July 18, and it highlighted the continued growth trajectory of Labuan International Business and Financial Centre (Labuan IBFC) for the past year and its strengthened position as a viable IBFC in expanding its footprint in Asia Pacific.

Fuelled by robust business policies and continued intermediation enabling investors to tap into the business opportunities in the ASEAN market, the jurisdiction achieved another year of growth momentum, albeit at a lower growth rate.

Presenting the report was Bank Negara Malaysia governor Datuk Muhammad Ibrahim, who is also the chairman of Labuan FSA. He said the financial year ended Dec 31, 2015, Labuan FSA operating income rose to RM53.9 million in 2014, while its total reserves increased to RM59.6 million from RM52.4 million.

Among the notable achievements highlighted in the report include:
  • Incorporations for a total of 836 new companies, in which more than 70% of the companies originated from Asia 
  • Banks’ total deposit rose 17.9% to USD10.8 billion 
  • Islamic financing increased significantly by 55% to USD1.8 billion compared to USD993.3 million in 2015 
  • Wealth management remains one of the high growth sectors in Labuan IBFC with nearly 28% increase in the number of Labuan foundations 

For more information, download the Annual Report 2015 here
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