Labuan IOFC to be further developed-Bank Negara

Bank Negara Malasyia, the Malaysian central bank, in its Financial Sector Masterplan has made recommendations to further develop the Labuan International Offshore Financial Centre (IOFC) in three main areas of activity.

The three areas are to promote and diversify further the financial players and activities in the IOFC; to promote the development of Islamic banking and retakaful business; and to develop and strengthen the capital market, e-commerce and ancillary services.

The central bank reco

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