Labuan International Business and Financial Centre (IBFC) is a special economic zone of the

Malaysia Malaysia is a country in Southeast Asia. Featuring the Tanjung Piai, southernmost point of continental Eurasia, it is a federation, federal constitutional monarchy consisting of States and federal territories of Malaysia, 13 states and thre ...

n government based on the island of Labuan off the

Borneo Borneo () is the List of islands by area, third-largest island in the world, with an area of , and population of 23,053,723 (2020 national censuses). Situated at the geographic centre of Maritime Southeast Asia, it is one of the Greater Sunda ...

coast. It was established in 1990 and has been marketed as having a unique position to tap investment opportunities in Asia and beyond. The Labuan IBFC shares a common time zone with many large Asian cities and its location between China and India as well as its proximity to several other financial centres has been used to promote the Labuan IBFC as a convenient location for business dealings. Labuan has been designated as a financial centre and free trade zone by the Malaysian government.

History

In January 2008, a rebranding and repositioning exercise of the IBFC to reflect the jurisdiction's burgeoning international status was followed by an aggressive marketing exercise. This included the setting up of Labuan IBFC Incorporated Sdn. Bhd. in May of the same year with a mandate by the Malaysian government to market and promote Labuan as the premier International Business and Financial Centre in Asia Pacific.

References

External links

Labuan International Business And Financial Centre

Labuan Financial Services Authority
- Regulatory body for Labuan IBFC
Bank Negara Malaysia
- Central Bank Of Malaysia {{Economy of Malaysia Economy of Malaysia Labuan Special economic zones Foreign trade of Malaysia Ministry of Finance (Malaysia)