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CONGRATULATIONS TO ALL WINNERS OF LIFIA2024
Labuan IBFC Innovation Award Categories and Winners:
- Islamic Finance (Award Category) - Fusang Exchange
- Captive Insurance (Award Category) - TNB Global Captive (L) Ltd
- Digital Financial Services (Award Category) - China Construction Bank Corporation Labuan Branch
- Islamic Finance (Award Category) - Fusang Exchange
Budget 2025: Expansion of Income Tax Exemption for Islamic Financial Activities in Labuan IBFC
- The tax exemption for Islamic financial activities has been expanded to include the (re)Takaful sector, effective from the Year of Assessment 2025 to Year of Assessment 2028.
- This expanded incentive broadens the range of qualifying business activities driven by digital technology in Labuan IBFC, fuelling growth and reinforcing Labuan’s position as the premier hub for Islamic finance in the region.
Labuan Financial Services Authority
(the regulatory body for Labuan International Business and Financial Centre)
Labuan FSA : Exposure Draft
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Masterplan For World’s First Labuan Shariah-Compliant Blockchain Hub
The unique features of Labuan Shariah-compliant blockchain are:
- Creates a financial system that promotes social justice, economic stability, and ethical behaviour in accordance with the principles of Shariah law
- Screens and eliminates prohibited activities such as interest-based transactions, uncertainty or speculation
- AI technology helps to monitor end-to-end transactions are Shariah-compliant
- Employs smart contracts on the blockchain to automate and enforce contractual process for Islamic institutions within the Shariah parameters
LABUAN FSA SPEAK UP CHANNEL
This is an independent whistleblowing service managed by Deloitte:
- Email: labuanfsawhistleblowing@tipoffs.com.my
- Website: https://secure.deloitte-halo.com/labuanfsawhistleblowing
- Tel: 1-800-81-0007
NO GIFT POLICY
- Labuan FSA subscribes to the principles of INTEGRITY and TRANSPARENCY in the conduct of its business
- Labuan FSA adopts a No Gift Policy to avoid conflict of interest or the appearance of conflict of interest situations to ensure that all employees of Labuan FSA remain independent and impartial in performing their duties and responsibilities
- Labuan FSA also seeks cooperation from the public to respect the No Gift Policy
WHISTLEBLOWING POLICY & BUSINESS ETHICS
Whistleblowing policy is intended to address genuine concerns over any improper conduct that may occur in Labuan FSA and its subsidiaries. This policy provides procedures for public to lodge report of improper conduct.
Act with integrity. Say it right. Do it right!
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Generally, LiST is intended to be a common reference point in effecting sustainability measures within the Centre. Specifically, LiST will guide and harmonise the manner in which Labuan financial institutions identify, assess, and classify their business activities in accordance with a common sustainability objective of Labuan IBFC.
