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May 2019
Insight
Plus
Direct from Asia Pacific's Leading Midshore Business and Financial Centre.
Will transparency on transactions, legal structures and tax lead to the death of IFCs?

Transparency is THE word used these days, especially since access to information, facilitated by technology, has never been easier. Afterall one needs to be able to access information in order to “see” thereby creating...


Malaysia is on track to become a leading global Islamic finance hub with an Islamic capital market worth almost MYR2 trillion (USD$484.25 billion), or over 60% of its overall capital market last year, according to Deputy Finance Minister Amiruddin Hamzah. He says Malaysia has made much progress in Islamic finance in recent years, including being the first country to issue green sukuk or Islamic bonds.​


Maybank International Labuan (MIL) recently introduced a new programme for secondary students called “Exploring Your Career Interest through Four Educational Series” as a key initiative under its Cahaya Kasih employee volunteerism programme. ​


Allied World Assurance Company Holdings, GmbH announced the establishment of a retakaful window by the Labuan branch of Allied World Assurance Company, Ltd (the “Labuan Branch”). The window will cater to both consumer and commercial general retakaful opportunities spanning property, casualty, construction & engineering, professional lines, healthcare liability, marine cargo and group personal accident.​


The captive insurance sector in Asia-Pacific is relatively small but has potential for significant growth, as businesses in the region increasingly consider the self-insurance vehicles part of their risk management strategies, experts say.​

Dear All

It has been a busy month with plenty going on, starting with the recently concluded successful joint event with STEP Malaysia and STEP World Wide’s Philanthropy Advisors Special Interest Group (SIG) for the conference themed "Creating a Sustainable Future for Asian Charitable Giving". It was heartening to note the rousing interest on the subject matter, and thanks to all for jointly making the inaugural event a success.

We were also in Vietnam for our Masterclass series with Tricor Trust Co (Labuan) in Ho Chi Minh and in Hanoi for the 5th Annual Asia Offshore Forum, and will be back in Osaka and Tokyo, Japan, partnering with Brighton Management Ltd and Japan Risk Specialist Ltd. We also did not miss the China Offshore Summit in Shenzhen, China, again in partnership with Tricor Labuan.

Most of all, we are excited to announce our upcoming captive conference on 7th August, in partnership with Swiss Re Corporate Solutions, entitled “Adding Confidence to Captives: Managing Volatility via Self Insurance”. Aimed at providing a platform to enhance knowledge and understanding of self-insurance tools like captives, this event will showcase thought leaders in this space, so to attend please register here.

If you’d like to get in touch, please drop me an email at ceo@libfc.com.

Hope you will enjoy this edition of Insight Plus!


Farah Jaafar-Crossby
Chief Executive Officer, Labuan IBFC Inc


1.00 PM - 6.00 PM
Osaka, Japan

1.00 PM - 6.00 PM
Tokyo, Japan

9:00 AM - 5:00 PM
Singapore

8.30 AM - 3.30 PM
Kuala Lumpur, Malaysia

Hong Kong ranked 18th for charitable donations out of the 146 countries and territories studied for the Charities Aid Foundation’s World Giving Index 2018. The latest edition of the Million Dollar Donor Report, a Coutts and Chinese University of Hong Kong analysis of charitable gifts of more than HK$1 million, shows that of the HK$877 million given by 47 donors in 104 gifts in 2017, 45 per cent by volume and 40 per cent by value came from foundations.​

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