A captive insurance company is set up by its parent to underwrite the risks of that parent company, its associated, affiliated and / or subsidiary companies and, in some cases, risks associated with the companies’ dealings with their customers. Traditionally, captive insurance companies have been set up in offshore jurisdictions to ensure cost effective access to global reinsurance markets and to maximize investment potential for corporate funds retained within the captive. Despite international.. Read More
Labuan banking means the business of receiving deposits on current accounts, deposit accounts, savings accounts, including investment banking business, Islamic banking business and such other transactions and terms and conditions as specified by Labuan FSA; in any currency including the Malaysian Ringgit. What is investment banking? Investment banking means the business of providing credit facilities, providing consultancy and advisory services relating to corporate and investment matters of making investments on behalf of any.. Read More
Qualifications and Conditions The following entities may apply to undertake Sharia Captive Activities: A Labuan Company or Protected Cell Company Special Purpose Vehicles, as well as any other category of persons approved by Labuan FSA The application directed to the Director General, Labuan FSA, must include the following: a) Certified extracts of Board Resolutions and minutes of meetings in respect of the decision to set up a Sharia compliant captive. b) The proposed.. Read More
The Labuan jurisdiction brings together lenders and borrowers, not only from the South East Asian region, but from the world over. Factor in world-class infrastructure and low-cost operating environment, and there is every reason you should be considering Labuan IBFC as your base. A further enhancement to the business has come with the Labuan Financial Services and Securities Act 2009 which has been effective since February 11th. 2010. The new Act frees up.. Read More
What products and services are currently offered by Labuan banks? Foreign currency credit facilities: Short term and long term financing Project financing Syndication/loan arrangement Standby letter of credit/bank guarantee Foreign exchange trading. Trade financing facilities. Foreign currency deposits Investment banking/advisory services (fee-based income) Project evaluation/feasibility studies Capital restructuring Private banking/portfolio fund management Correspondent banking (for Malaysian banks) Are there any limitations? A Labuan bank is prohibited from accepting cash deposits and from opening.. Read More
The applicant must: Be incorporated or registered as a Labuan company, a foreign Labuan company under the Labuan Companies Act 1990, a protected cell company or a special purpose vehicle set up to undertake captive insurance business Have a management office in Labuan or appoint a licensed underwriting manager Appoint at least a director and a resident secretary. The resident director (if appointed) and resident secretary must be trust officer(s) of a trust.. Read More
Labuan IFBC ensures that your factoring or invoice discounting business operations are conducted in the most ideal circumstances and conducive environment. Most recently, Labuan IBFC banks and investment banks were appointed as managers and book-runners for issuances, in order to facilitate the offer of debt securities to investors.