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May 2020
Insight
Plus
Direct from Asia Pacific's Leading Midshore Business and Financial Centre.
Dear All

I sincerely hope you, your family and loved ones are well, making the most of the “lockdown”. The team and I are physically back at our offices in downtown Kuala Lumpur, and the city does “feel” different, it has a cautiously optimistic “vibe”!

And that echoes the sentiment of Director General, Labuan FSA in releasing Labuan IBFC’s Market Report. We pleased to share that 2019 saw growth especially in the areas of banking, insurance, wealth management and digital financial services. Clearly, the unchartered waters of 2020 will unsurprisingly be challenging, but we remain cautiously optimistic especially as pockets of opportunities emerge.

As you might know, the Labuan IBFC COVID-19 Fund has seen significant contribution from you – the intermediaries and users of Labuan IBFC, and has benefitted more than 2,000 front-liners and underprivileged community. A key beneficiary has been the Labuan Public Hospital which gained extra quarantine beds, PPEs, testing kits and most importantly; a virus testing machine. We are thankful COVID-19 remains well contained, with only 16 cases amongst a population of 100,000. The team continue to receive pledges, and we are truly humbled by your generosity. Believe me, no contribution is too small, it’s the thought that counts, Terima Kasih!

As an eternal optimist, I strongly believe that there is opportunity within adversity, no matter how large. The challenge lies in embracing an unprecedented circumstance, without a “hard coded” mindset and having the courage to expand our existing “tool box” of solutions. Until the next time, stay safe and remember to be kind.


Farah Jaafar-Crossby
Chief Executive Officer, Labuan IBFC Inc

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