Labuan Financial Services Authority (Labuan FSA) was established on 15 February 1996 under the Labuan Financial Services Authority Act 1996. Labuan FSA is the statutory body responsible for the development and administration of the Labuan International Business and Financial Centre (Labuan IBFC).
Labuan FSA was establised with the following objectives:-
Labuan FSA subscribes to international standards and best practices and is home to many diversified financial service providers, including banks, insurance and insurance related companies and leasing companies. The holistic review and modernization of the Labuan IBFC legal framework in 2010 had allowed for the creation of new and more innovative products and structures to meet the growing demands of international investors who are looking for the most efficient and cost effective means of doing business. Other products and structures offered by the Labuan IBFC include the Labuan Foundation, Labuan Protected Cell Companies, Labuan Limited Liability Partnership, Labuan Special Trust and the recognition of Labuan under the Malaysia International Ship Registry.
Since its establishment, Labuan FSA has reviewed the existing legislations in order to make the required changes as well as to propose new activities to expand and deepen the financial services industry. Labuan FSA is also taking measures to attract a greater number of professionals and skilled workers to live and work in Labuan IBFC to support the industry.
As a one stop-agency, Labuan FSA is highly professional and focused on developing and promoting the growth of the Labuan IBFC. It is deeply committed to the objective of turning Labuan into a full-fledged and premier international financial centre in the world.