International Investment's 2021 special report on Labuan International Business and Financial Centre (Labuan IBFC) is out today.
As economies emerges from pandemic lockdowns, this year has seen Labuan International Business and Financial Centre (Labuan IBFC) forge ahead on multiple fronts to position itself, not just as a key play in the Asian economy but across the world.
Labuan IBFC is not only Asia and MENA's fastest-growing risk and reinsurance wholesale intermediation market, boasting more than 220 license holders, it is also the only jurisdiction in Asia that provides for the protected cell company (PCC) structure, with more than 10 PCCs licensed to date.
Our special report drills down into the unique role this free zone plays as it carves a special place on the international stage.
Our overview article shows how since its establishment over 30 years ago in 1990, Labuan IBFC has become an ever more integral component of Malaysia's economy with its latest contribution of about RM4.6bn in the nation's fiscal revenue collection arising from the new tax regime in 2019 and 2020.
We also feature insights by Labuan IBFC on how it has embraced the rapidly evolving development in line with international standards.
A further focus in our special report is on how Labuan is becoming an innovative base for Islamic financial products, home to the world's first USD-denominated exchangeable sukuk which has reinforced Malaysia's position as the global leader in sukuk issuance.
Captive insurance and its huge potential is another area where Labuan IBFC points towards Asia leading the way.