Labuan FSA issues market guidance in order to facilitate applications of the various requirements of the Labuan entities.
Among others, these include detailed explanation or clarification of rules governing the business and conduct of Labuan entities.
Need to find out more, please visit Labuan FSA website.
Please visit Labuan Financial Services Authority website for more information about guidelines in Labuan.
Last Updated: 26 Apr 2022 8:00PM GMT+8
Labuan banking means the business of receiving deposits on current accounts, deposit accounts, savings accounts, and includes the investment banking business, Labuan financial business, Islamic banking business and such other transactions and terms and conditions as specified by Labuan FSA in any currency including Malaysian Ringgit where permitted by Bank Negara Malaysia.
Investment banking means the business of providing credit facilities and consultancy and advisory services relating to corporate and investment matters, including making investments on behalf of any person. Other activities include undertaking foreign exchange transactions, interest rate swaps, dealings in derivative instruments or derivative financial instruments or any other similar risk management activities.
Islamic banking is defined as a banking business that is in accordance with Shariah principles.
Organisations that meet the following minimum criteria may apply for a Labuan banking licence:
RM10 million or its equivalent in any other currency.