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2016 Message from the Director-General of Labuan FSA
Datuk Ahmad Hizzad Baharuddin, the Director-General of Labuan FSA, extends his greetings and best wishes to all the stakeholders of The Labuan International Business and Financial Centre (Labuan IBFC) for the new year.
The year 2016 has just begun. I wish to extend my greetings and best wishes to all stakeholders of The Labuan International Business and Financial Centre (IBFC) and may the year 2016 continue to bring you success and prosperity.

As we usher in the new year, we take the opportunity to reflect upon the accomplishment in the year just ended and also to look ahead to our aspirations for 2016. In the global scene, we see an improved outlook prevailing in some advanced economies whereas a slower pace of growth in the emerging and developing countries, due to series of challenges including the persistent low oil and commodity prices. Notwithstanding, amid the global developments and economic uncertainties, the Labuan IBFC ended 2015 stronger and retained its steady growth trajectory.

Labuan IBFC grew from strength to strength in its 25 years journey. The centre is certainly more resilient and robust today with increasing attractions of Labuan IBFC as the strategic platform for connecting Asia’s economies. In tandem with the progress of international business and financial centres, Labuan FSA ensures that its policy and business advancement always provide the diversity and clarity to stay on course with the changing environment. We are committed to pursuing effective business facilitations, upscaling prudential regulations and having a more refined risk-based supervision as well as effective enforcements. In 2015, our broadened strategic collaborations with international agencies and our flagship wealth management activities have enhanced our international relations and visibility in the financial arena.

As we continue our journey into 2016, the international business landscape is expected to remain demanding. In an environment of increasing complexity and openness, business and employment affected by commodities price fluctuation and geopolitical tensions in the Middle East, the new year also presents the chance to pursue new opportunities and improve upon the past. We shall continue to drive Labuan FSA and the Labuan IBFC industry forward anchoring on our mission to ensure Labuan IBFC remains sound, stable and dynamic. Business facilitation in the evolving regulatory environment remains a priority through review of our legal and tax components. Enhancing human resource development for the whole industry through capability and capacity building initiatives are also key for Labuan IBFC to be at the forefront of change, and continue to deliver values to all our stakeholders.

In 2016, let us all remain resolute and strong to further elevate the growth of the Labuan IBFC and in meeting the challenges ahead!
By
Datuk Ahmad Hizzad Baharuddin
Director-General, Labuan FSA
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Labuan IBFC
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