Malaysia: Labuan IBFC aims to be Asia's leading digital-based financial gateway with Islamic finance capabilities

Labuan International Business and Financial Centre (Labuan IBFC) is rapidly revolutionising its digital offerings, entrenching its commitment to become a facilitator of Asia's digital revolution, a key driver of the centre's success in recent years. Labuan Financial Services Authority (Labuan FSA). The jurisdiction’s regulator provides an innovative licensing regime to support this evolving digital financial landscape. This allows digital financial services (DFS) firms to operate within a live market environment, anchored on innovation, intermediation and financial inclusion. Labuan FSA director-general, Mr Nik Mohamed Din Nik Musa, in his welcome address at the third Connecting Digital Ecosystems Asia (CoDE Asia 2021) last week, said, “Labuan IBFC is envisioned to become a digital-based gateway with Islamic finance capabilities for all global investors and players as the future of Islamic finance looks ever promising. The digital transformation in Islamic finance positively contributes to the evolution and innovation of Islamic financial products and services in a rapid tone.