Yang Berusaha Mr. Affendi Rashdi, Director General, Labuan FSA,
Mr. Steven Choy, Authority Member of Labuan FSA and Chairman of Labuan IBFC Inc.
Chairmen of Associations,
Members of the Media,
Ladies and Gentlemen,

Good evening, Salam Sejahtera and Salam Malaysia MADANI

It is my great pleasure to join all of you this evening to celebrate the 35th anniversary of the Labuan International Business and Financial Centre (Labuan IBFC). This milestone is a testament to Labuan IBFC’s enduring role in Malaysia’s economy. And not to forget this milestone also reflects all the hard work, foresight and commitment of everyone throughout Labuan IBFC’s journey. For this, my warmest congratulations to Labuan IBFC on reaching this remarkable achievement.

It is also my personal pleasure to be back in this beautiful and welcoming island - my last visit being in 2024 and to reconnect with the distinguished leaders and captains of industry who have been instrumental in shaping Labuan IBFC’s growth. Tonight, we honour not only Labuan IBFC’s achievements, but also the fusion of legacy, innovation and shared purpose. This success is a result of unwavering commitment of the Government, Labuan FSA, industry players, and key partners who have built Labuan IBFC into an international brand renowned amongst peer financial centres around the world today.

Tonight’s theme, “Batik & Songket Malaysia”, reminds us that a financial centre thrives not only on sound regulatory and business structures, but also in its ability to evolve while preserving fundamental legacies and credibility. Batik’s pattern fluidity reflects Labuan IBFC’s dynamism. Whilst songket’s interwoven threads, capture the Centre’s resilience and business intermediation roles. Together, they mirror Labuan IBFC’s 35-year journey of blending regulatory focus, market innovation, business diversity and regional relevance – all within one-vision tapestry.

Ladies and Gentlemen,
The Government established Labuan IBFC with a bold vision to be a gateway for global financial services. Today, it has grown into a vibrant market in its own right, hosting nearly 800 licensed financial institutions and home to over 5,000 Labuan companies hailing from 124 countries.

Over the years, Labuan IBFC has emerged as a symbol of innovation and foresight in the international business arena. It has kept pace with international developments and in fact, it was even ahead of the curve in some areas. Among its most notable regional-first or world-first achievements which includes:

• Legal modernisation via the Labuan omnibus laws enacted in 2010 which included consolidation of four legislations into one supra-law in the form of Labuan Financial Services & Securities Act as well as the dedicated Shariah-related legislations;
• Creation of Asia’s first unique business structures which includes Labuan Protective Cell Companies (PCCs) and Labuan International Waqaf structures;
• A series of digital and Islamic finance global breakthroughs under the Islamic Digital Asset Centres (IDAC) initiatives including issuance of Shariah compliant securities token (RAMZ), tokenisation of Islamic digital assets, Labuan Shariah compliant Blockchain Hub Masterplan and the debut of a climate sukuk.
  

Labuan IBFC’s success is defined not only its global standing and innovative milestones but also by the people who drive the ecosystem. Today, more than 9,000 individuals form Labuan IBFC’s community. These are not just mere jobs – but rather these are livelihoods that support families, neighbours, and the broader Labuan community. It’s a reminder that Labuan IBFC, at its heart, is integral part of this community - Growing together, contributing together, working towards a brighter Labuan’s future, and ultimately prosperous Malaysia.

While we recognise Labuan IBFC’s success is built on the dedication of its people, its strength is also reinforced by the institutions that have journeyed alongside the Centre. This evening, I am pleased to note that 36 Labuan entities will be honoured with the Anniversary Commemorative Recognition Award conferred by Labuan FSA, for their long-standing contributions to Labuan IBFC. This is not a mere ceremony, but a tribute to their enduring commitment to support Labuan IBFC throughout its 35 years. My heartfelt thanks to them for being steadfast with the Centre’s remarkable journey till today.

Today, the world is undergoing profound shifts, and it is imperative that Labuan IBFC must operate in a more complex and dynamic international business landscape. One truth is becoming clear: the next world order will not be defined by size, volume or dominance. Rather It will be shaped by the market’s ability to coexist, collaborate and adapt.

In this evolving current environment, Labuan IBFC stands as a platform for possibilities – the proverbial bridge that connects Asia economies while growing as a hub for innovative businesses. In this era where collaboration outweighs rivalry, the Centre must view itself not as a competitor market to its peers, but as a collaborator for common business pursuits and new opportunities.

Looking ahead, the path forward for Labuan IBFC would be anchored by three key pillars: Connectivity, Complementarity, and Collaboration (3Cs):

1. Connectivity- the ability to remain seamlessly linked to global markets, economies, technology, infrastructure as well as people; creating networks that gel capital, talent, investors and innovations together;
2. Complementarity – Labuan IBFC adds unique value by complementing, not replicating, offerings in the financial ecosystem.; and
3. Collaboration - the ability to foster partnerships and co-create opportunities with market innovators as a foundation of sustainable growth.
   

The 3Cs should help to shape how the Centre expands its global reach, amplifies its unique capabilities, and drives collective growth with partnering businesses across markets.