Exclusive Interview with Director General, Labuan
Financial Services Authority - Datuk Danial Mah
Abdullah
QUESTION:
We understand that there has been growth in the key industries
in Labuan IBFC and that the intermediaries or license holders in
the jurisdiction have done very well for themselves, in addition
the depth of key business lines has also increased. Which areas for
you are key highlights, and offer a glimpse into the future
development of the jurisdiction?
ANSWER:
Generally, 2019 has been another positive year of growth for
Labuan notwithstanding the many challenges experienced in the year.
Labuan FSA continues to see growth in wholesale financial business
in the banking and insurance/risk management sectors. There has
been greater focus on out-out international business with lesser
reliant on domestic or Malaysian business. This is the direction we
want Labuan IBFC to continue heading, i.e. doing more business for
the Asian market.
