December 2019

INSIGHT

PLUS

Direct from Asia Pacific's Leading
Midshore Business and Financial Centre.

Direct from Asia Pacific's Leading Midshore Business and Financial Centre.

2019 IN BRIEF

READING LIST

The financial services industry has experienced its fair share of hype when it comes to blockchain. But as the technology has matured, one particular byproduct has proven itself worthy of the hyperbole for its ability to reshape the way financial markets are organised and operated: the digital token.​


A slew of startup insurance companies, mostly selling online to keep costs low, are trying to sell micro insurance products, promising low premiums and rapid settlement.​

CEO'S MESSAGE

Dear All

2019 has certainly been an eventful year, starting with the introduction of substance requirements, and ending with more than 1500 jobs created in Labuan! Clearly the global “flight to quality” has worked in our favour, and I believe that Labuan IBFC is just beginning to get the recognition it deserves; which would not be possible without your support – Thank You!

This month two new MoUs were signed, with Huobi Global and the Nanjing Local Financial Supervision Bureau, both are aimed at fostering collaboration towards building our digital eco-systems and facilitating Labuan IBFC’s role in intermediating the Belt and Road initiatives.

The past few months have been hectic with market development engagements, ranging from events in Singapore, China, Turkey and Bahrain. Next year we are pleased to announce that Labuan IBFC will be a the lead partner for the Asian World Islamic Banking Conference 2020, held on 29-30 June and the Asian Captive Conference 2020 on 12 August 2020. So please mark your calendars and look out for more information coming your way.

2020 will mark Labuan IBFC’s 30th Anniversary as Asia’s intermediating centre for finance, risk and business, with commemorative initiatives in the pipeline. We sincerely hope you will join us in celebrating this unique midshore jurisdiction of ours.

And as the year draws to a close, please do take the time to be thankful for all our blessings, big or small. From the team and I, to you and your loved ones, Happy Holidays and Season Greetings – here’s hoping 2020 is kind to us all, may it bring peace of mind and keep us all in good health.


Farah Jaafar-Crossby
Chief Executive Officer, Labuan IBFC Inc


EVENTS

HIGHLIGHTS

These entities are engaged in digital banking, insurance technology (insurtech) business, robo-advisory, exchange, money broking, credit token/cryptocurrency services, and payment system, said Labuan Financial Services Authority (Labuan FSA) director general Danial Mah Abdullah.​


Malaysian financial technology (fintech) firm Neurogine Group is optimistic of complementing the Labuan Financial Services Authority’s (Labuan FSA) vision and mission of turning Labuan into the global fintech hub.​


Malaysian offshore support vessel builder Nam Cheong plans to redevelop the facilities on a 7.3-hectare site in Labuan, Malaysia, for a shipyard and training centre.


At least eight geologic sites with high heritage value have been found in Labuan, which potentially qualifies it to be declared as a National Geopark.​


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Stay ahead of the game
Access a wealth of information from Labuan IBFC from reports on forward-thinking research to insightful articles.
Get in touch
Interested to setup your business in Labuan? Speak to our dedicated advisors to find out more.
Stay ahead of the game
Access a wealth of information from Labuan IBFC from reports on forward-thinking research to insightful articles.
Get in touch
Interested to setup your business in Labuan? Speak to our dedicated advisors to find out more.
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