Press Releases

Labuan IBFC Inc will be organising a week-long market development drive in the Gulf which includes business development meetings, wealth management conference and a bespoke masterlass in Dubai, United Arab of Emirates on April 2018.

Kuala Lumpur, 17 April 2018 – Despite the competitive Shariah-compliant market for financial services structures and solutions in the Gulf Cooperation Council (GCC) region, Labuan IBFC is confident that its omnibus Islamic legislation and its strong Shariah Supervisory Council will continue to keep Labuan IBFC as a key jurisdictional option for Gulf businesses and families. 

To further drive this message, the midshore jurisdiction’s promotional and marketing arm, Labuan IBFC Inc will be organising a week-long market development drive in the Gulf, which will include numerous business development meetings, participation in a wealth management conference and the hosting of a bespoke masterclass in Dubai, United Arab of Emirates, on April 25, 2018. In addition, market development visits to Bahrain and Abu Dhabi are also planned.

Led by Labuan IBFC Inc, the Roadshow will also be participated by trust and corporate service providers from the jurisdiction as well as advisors and other intermediaries, including ITMC Fiduciary Limited, Hans Advisory & Trust Co. Ltd and Rahayu and Partnership. 

“Labuan IBFC is home to the only omnibus Islamic legislation in the world and unknown to many, our Shariah Supervisory Council is able to review and comment on the level of Shariah compliance of proposed financial structures and arrangements. This is unique to the jurisdiction and offers peace of mind to potential users,” said Farah Jaafar-Crossby, CEO of Labuan IBFC Inc. 

She added, “As a midshore jurisdiction, we offer flexible Islamic wealth management structures that could be a viable alternative to many wealthy families in the GCC region, especially in the use of the age old Waqf structures to meet certain contemporary demands of these families.” 

Labuan IBFC offers the world’s only Waqf foundation, where private clients are able to marry the charitable elements of Waqf and the needs of private wealth management in a flexible manner. 

As a key element in Malaysia’s offering in Islamic financial services, Labuan IBFC’s leadership in Islamic finance is entrenched, and as home to the world’s first USD denominated exchangeable Sukuk, the jurisdiction continues to innovate in the space of Islamic financial services. 

Labuan IBFC last year entered into a Memorandum of Understanding with Abu Dhabi Global Markets to explore areas of common interest in Islamic finance, wealth management and reinsurance sectors. In addition, Labuan companies have also been accepted for a listing vehicle on Nasdaq Dubai. 

To meet any of these senior representatives of Labuan IBFC to better discuss how Labuan IBFC can assist your wealth management needs or how as an intermediary you may also benefit from offering Labuan based solutions in the Gulf, please email events@libfc.com and to join our masterclass in Dubai, please register here: https://bit.ly/2qklv2J 

For more information, please visit www.labuanibfc.com 
MEDIA CONTACTS:
LABUAN IBFC
Audrey Liew
audrey@libfc.com
Tel: +603 2773 8975 
Mobile: +6012-913 8979
Geraldine Lim
geraldine@libfc.com
Tel: +603 2773 8991 
Mobile: +6012-253 8666
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

ABOUT SHARIAH SUPERVISORY COUNCIL (SSC)

The Shariah Supervisory Council (SSC) was set up in 2002 and comprises renowned Malaysian and international Islamic finance scholars. The SSC reviews and ensures the compatibility of proposed financial instruments with Shariah requirements. It also advises Labuan FSA on the development of Islamic jurisprudence principles. The members of the SSC are appointed by the Authority, and comprise the following:

  1. Datuk Dr Mohd Daud Bakar, Founder and Group Chairman, Amanie Advisors
  2. Dr Mohamed Ali Elgari Bineid, Professor of Islamic Economics, King Abdulaziz University, Jeddah 
  3. Dr Engku Rabiah Adawiah binti Engku Ali, Associate Professor of Ahmad Ibrahim Kuliyyah of Laws, International Islamic University Malaysia, member of the Shariah Councils of the Central Bank of Malaysia and Securities Commission of Malaysia 
  4. Dr Sheikh Nedham Yaqoobi, International Shariah Scholar 
  5. Assoc. Prof. Dr. Mohamad Akram Laldin, Executive Director, International Shariah Research Academy for Islamic Finance (ISRA)
  6. Assoc. Prof. Dr. Syed Musa Syed Jaafar Al-Habshi, Associate Professor, International Islamic University Malaysia (IIUM)

 
Website: www.labuanibfc.com
Facebook: Labuan IBFC
Twitter: @labuanIBFC
Linkedin: http://www.linkedin.com/company/labuan-ibfc
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