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September 2019
Insight
Plus
Direct from Asia Pacific's Leading Midshore Business and Financial Centre.
“As a midshore IFC we hope to offer the best of both worlds”​

In this interview, International Investment’s Pedro Gonçalves talks with Labuan IBFC CEO Farah Jaafar-Crossby about some of the unique solutions the financial centre offers...


Axinan, a Singapore-based insurtech firm, succesfully secured a combined General and Reinsurance license, issued by Labuan Financial Services Authority (Labuan FSA) a mid-shore jurisdiction in Malaysia.​


HWGG Capital PLC has officially launched its HwgPay Blockchain Ecosystem, allowing consumers to make safe, secure, and reliable digital asset spending.​


Labuan Financial Services Authority (Labuan FSA) has granted its approval for China Construction Bank Corporation Labuan Branch (CCBL) to conduct digital banking activities in the Labuan International Business and Financial Centre (Labuan IBFC).


Labuan Corporation will continue utilising the Labuan Development Blueprint 2030 to further drive the island’s economic growth, in tandem with national development, said its newly-minted chief executive officer Dr Fary Akmal Osman.​


Dear All

The only constant in life is change, and of late the most consistent change is the unyielding momentum towards all things digital. Being a progressive jurisdiction, mindful of such changes, we are delighted to recently welcome to the #labuandigitalfamily Singapore-based insurtech firm Axinan, and the Malaysian blockchain firm, HWGG Capital PLC’s HwgPay Blockchain Ecosystem.

Of course, the allowance from Labuan FSA for China Construction Bank to provide digital banking services via its Labuan IBFC branch is also a game changer and is evidence that there is merit to consider a jurisdiction like Labuan IBFC where our Regulatory approach hinges​ on understanding the licensee’s overarching business plan.

Already home to more than 20 fintech-related entities, we look forward to further enhancing our digital ecosystem especially via the possibility of setting up the Labuan Fintech Association. If you are interested in participating as a founding member, please email me at farah@libfc.com

We are also excited to be in Singapore for TechXLR8 Asia, essentially a festival representing the array of technologies driving the digital revolution – AI, 5G, blockchain and IOT. The energy is palpable, and I can confirm: contagious! Enjoy this edition!


Farah Jaafar-Crossby
Chief Executive Officer, Labuan IBFC Inc


9.00 AM - 5.00 PM
Singapore

8.30 AM - 3.00 PM
Penang, Malaysia

9.00 AM - 5.00 PM
Singapore

Now stretching into its fifth generation, Hong Kong’s Lee Kum Kee group has become an instructive case study for ultra-rich Asian families who’ve amassed unprecedented fortunes in recent years.​

More than half of banking and financial clients in Asia and across the globe now use fintech products and services, according to the findings of a recent deVere Group survey.​

Moody's Investors Service expects total sukuk issuance of around US$130bil in 2019, at the top end of the US$120bil to US$130bil range it projected at the beginning of the year. In its sector report, the rating agency expected this to increase by 5.7% from US$123 billion in 2018.

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