2017 Message from the Director-General of Labuan FSA

Warmest greetings and happy new year 2017 to all the stakeholders of Labuan International Business and Financial Centre (IBFC)! May the year 2017 usher us a great beginning and continue to endow us with immense prospects.

The year 2016 is well characterised as a year of ‘challenges and changes’. There were significant challenges and changes impacting the global political landscape and financial markets - from political shifts, geopolitical unrests to global economic headwinds triggered by persistent low commodity prices and financial market volatilities. Issues weighing on the international financial centres on the legal, tax and regulatory front continue to be the major drive, placing us well positioned moving forward to contribute and strengthen international financial stability, mutual cooperation and enhance transparency standards.

While the year 2016 was full of the unexpected and uncertainties, it did not deter the investors and businesses from leveraging on the Labuan IBFC as the springboard to tap on the opportunities in greater Asia. The centre stayed within sight of our targets and objectives, and continued to make progress in building a positive growth momentum across key business sectors. The regulatory and supervisory regime was also strengthened to ensure the centre stands competitive and well conforming to international standards and best practices. This has reaffirmed Labuan IBFC’s commitment, resilience and potential to further offer opportunities and values to our stakeholders.

The global economic environment in the year 2017 is going to remain uncertain, while the international business landscape is going to be more challenging. Equipped with the experience we have gained in the course of 2016, the centre stands poised to reflect and refocus its priorities to serve the business communities investing in the region. In the same vein, the Labuan IBFC industry’s collective resolute to excel in our service deliverables and value propositions will be key, for us to build on our combined strengths and to progress the centre forward.

On that note, I would like to again wish you all the best and have a wonderful journey and prosperous year ahead, and thank you for your continuing support!

Ahmad Hizzad Baharuddin
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