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LABUAN IBFC INDUSTRY AWARDS 2024 (LIFIA 2024)
We are pleased to inform that we have received some nominations from the industry for the LIFIA24. The nominations are currently undergoing the filtering and assessment process by independent judges, with none from the Labuan FSA.
We wish you all the best and, winners will be announced at the Industry Dinner on 8 November 2024.
Labuan Financial Services Authority
(the regulatory body for Labuan International Business and Financial Centre)
Labuan FSA : Exposure Draft
(1) Exposure Draft Guidance Notes Family Office Package Labuan IBFC.jpg)
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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
BUDGET 2024: INCOME TAX EXEMPTION FOR
ISLAMIC FINANCIAL ACTIVITIES IN LABUAN IBFC
This tax exemption will be in effect from the Year Assessment 2024
to the Year Assessment 2028 serving a substantial incentive for entities
operating within the Labuan IBFC involved in the Islamic financial sectors.
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.
