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August 2018
Insight
Plus
Direct from Asia Pacific's Leading Midshore Business and Financial Centre.

The midshore jurisdiction was the award recipient for the Asian Domicile category at the inaugural Asia Captive Review Awards 2018.


Labuan FSA has approved four captive licenses in the first half of 2018 - the same level of growth as the entire financial year of 2017.

The Asian Development Bank says the outlook for Islamic banking and finance in Asia is bright, given that the region is home to more than sixty per cent of the world’s Muslim population, as well as Asia’s growing middle class, and has strong economic and financial fundamentals.


The Labuan Financial Services Authority released its Industry Performance for 2017 recently, reporting on Labuan IBFC’s overall performance. Hence, we would like to share some key status figures in this month’s issue. For more details on the overall performance, please view it here.

We are proud to share the commendable growth of 19.1% in company incorporation in Labuan IBFC and this is truly a milestone for us. This is certainly a strong indication that the midshore jurisdiction remains to be a choice for many businesses, be it regionally or globally.

Our key business areas of banking, insurance and wealth management continued to experience positive growth with more businesses and private clients leveraging on the advantages offered by Labuan IBFC’s structures and solutions.

In addition to the encouraging growth, it is also noteworthy that Labuan IBFC was awarded the best Asian Domicile for captives at the inaugural Asia Captive Review Awards recently. Sincerest appreciation goes out to all our stakeholders for your unwavering support and thank you for believing in us. 

The team and I would also like to thank everyone who attended The Asian Captive Conference 2018 held recently. Do stay tuned on this space for an overview of the Conference in the next issue.

Until then, have a great month ahead.


Farah Jaafar-Crossby
Chief Executive Officer, Labuan IBFC Inc

Labuan FSA supports innovative financial services (IFS) such as fintech and welcomes Labuan entities to use IFS as part of their business activities.

Labuan FSA has issued Guidelines on Corporate Governance for Labuan Banks and Labuan Reinsurers to ensure Labuan Financial Institutions are managed in a sound and prudent way with due regard to the interest of the stakeholders.

9.00 AM - 5.00 PM
Singapore

11.15 AM - 5.00 PM
Seoul, Korea

8.30 AM - 5.10 PM
Hong Kong

8.30 AM - 11.45 AM
Hong Kong

Chua Wei Min, Director of ZICO Trust Limited, shares her take on the adoption of CRS in Malaysia, as well as the developments of CRS in other ASEAN jurisdictions.

Economic losses to disasters in Asia and the Pacific could exceed USD160 billion annually by 2030, the United Nations development arm in the region warned on Tuesday, urging greater innovation in disaster risk financing.

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