Labuan Financial Services Authority has issued revised Guidelines for all leasing transactions through Labuan IBFC on 29 December 2017. All requirements of the Guidelines shall come into effect on 1 January 2018 while the substance requirements by the Labuan leasing companies shall come into effect on 1 January 2019 to provide sufficient transition period for compliance.
Labuan International Business and Financial Centre Incorporated Sdn Bhd (Labuan IBFC Inc), the official promotion and marketing agency for Labuan International Business and Financial Centre, Malaysia, has appointed Farah Jaafar-Crossby as its new Chief Executive Officer.
Recent survey on more than 2,100 small businesses in 14 countries confirms there is an unmet demand for digital insurance services and this indeed presents an opportunity for insurers to develop a clear strategy to cater the needs of this market segment.
The Vice Finance Minister Zhu Guangyao recently announced that China will further open up its banking, insurance, securities, futures and fund industries to foreign investors.
Malaysia is creating a more comprehensive Islamic economy and will launch a debut “Islamic Digital Economy Framework” by March 2018 as a growth backbone for its entire halal industry.