Offshore Centers Continue To Thrive During Challenging Market Conditions

Bursa Malaysia and Singapore-based fintech technology firm Hashstacs were recently reported to have partnered to develop a blockchain proof of concept with the aim of growing Labuan's bond market.

Manuela Belmontes provides a summary of how offshore centers continue to thrive during challenging market conditions.

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Dubai Islamic Bank (DIB) returned to the capital markets with a dual-tranche issuance of Sukuk in an aggregate offering of US$1.3 billion under its US$7.5 billion Sukuk issuance program that uses a Cayman Islands company as the issuer and trustee. The issuer is set up as an orphan company with its shares held on trust, and management provided by MaplesFS, the fiduciary services business of Maples Group.