Fostering Closer Ties with Djibouti

Labuan FSA participated in the “Malaysia Global Connect: Malaysia-Djibouti Business Forum” on 29-30 November 2023 in Djibouti.

The Forum served as a platform for forging economic ties and exploring strategic collaborations between the two countries. The Forum provided an avenue for Labuan FSA to create awareness of the business propositions of Labuan IBFC, particularly on Islamic Finance.

Potential foreign entities have shown keen interest in using Labuan as their business platform, and creation of strengthened ties with the Government of Djibouti as represented by the Prime Minister, Economic Minister, and other ministerial heads of Djibouti. The event also supported Malaysian companies using Labuan structures and facilities for businesses in Djibouti and other African countries.

Labuan FSA delegation had met the Governor of the Central Bank of Djibouti to discuss potential areas of cooperation between the two authorities with the intention to sign a Memorandum of Understanding at a later stage. This would pave the way forward for future collaboration in areas of consolidated supervision and exchange of information over its Labuan entities.
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