Labuan IBFC’s Financial Services Community Band Together to Contribute to the Relief Efforts in Combating Covid-19

Labuan, Malaysia, 27 March 2020 – Labuan International Business and Financial Centre, Labuan IBFC’s financial services and intermediation community have come together to assist local authorities in relief efforts via the pooling of resources.

Labuan IBFC’s Cross-Industry Group comprising of all the industry associations representing licensed entities in the jurisdiction has led the formation of a pool fund, focused on providing relief to front liners and those less fortunate in Labuan.

This Cross-Industry Group consists of Labuan Financial Services Authority, Labuan International Insurance Association, Association of Labuan Banks, Association of Labuan Trust Companies, Labuan Investment Banking Group and the Labuan Fintech Association.

The Labuan IBFC Community is deeply concerned about the growing scale of the Covid-19 pandemic and its social and economic impact, particularly on Labuan island. Specifically, this resource pool will fund towards the purchase and distribution of personal protective equipment for hospital staff, healthcare providers, and other frontline service personnel on the island.

Relief, in the form of household necessities, will also be provided to those in the B40 income group and to daily wage earners who are impacted by the situation, as well as schools and small businesses.

The above effort is testament of the commitment and empathy of the Labuan IBFC community towards the people of Labuan island, by providing whatever assistance it can to relieve hardships under the current situation.

For more information on Labuan IBFC, please refer to www.labuanibfc.com.

Media Contacts

Labuan IBFC

Audrey Liew
audrey@libfc.com
Tel: +603 2773 8975
Mobile: +6012-913 8979


ABOUT LABUAN IBFC
ASIA PACIFIC’S MIDSHORE INTERNATIONAL BUSINESS AND FINANCIAL CENTRE

Labuan International Business and Financial Centre (Labuan IBFC), Malaysia, through its internationally recognised yet business-friendly legal framework, is the preferred international business and financial centre in the Asia Pacific region.

It offers global investors and businesses the benefits of being in a well-regulated jurisdiction, while providing for fiscal neutrality and certainty, in addition to being an ideal location for substance creation.

Labuan IBFC boasts a wide range of business structures and investment solutions catered to cross-border transactions and international business dealings. It offers services and solutions in niches such as asset leasing, risk management, commodity trading, wealth management, international business companies and Islamic financial services to global businesses looking at penetrating Asia and Asian entities aiming to go global.

Labuan IBFC operates within clear and comprehensive legal provisions, guidelines and practice notes, enforced by a single regulator, Labuan Financial Services Authority.

To keep up with everything about Labuan IBFC, follow Twitter or Facebook @LabuanIBFC. Alternatively, visit www.labuanibfc.com

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