New Director General Appointed At Labuan Offshore Financial Services Authority
Bank Negara Malaysia said
last week that Citibank Bhd's vice-president, Noorazman Abdul Aziz, has been
appointed the new director general of Labuan Offshore Financial Services Authority
(LOFSA). The appointment of Noorazman
Abdul Aziz will take effect on May 1 2001 and will see current chief Mohd Razif
Abdul Kadir return to his role as assistant governor of Bank Negara. LOFSA was established as
a regulatory body in 1996 to spearhead and co-ordinate efforts to promote and
develop Labuan as a first-class international offshore financial centre. The
new director general will now take up the challenge of creating an offshore
centre which can offer a wide variety of offshore products including the development
of Islamic instruments, and providing a legal framework necessary for the development
of a prosperous offshore sector. .
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