The Labuan Offshore Financial Services Authority (Lofsa) is developing and promoting innovative shariah-compliant financial investment instruments, the organisation's new Director General, Rosnah Omar, told investors this week.
Rosnah was speaking in Kunching, during a tour to promote the Malaysian jurisdiction as a leading international offshore financial centre, where she informed the audience that Islamic financing would be encouraged through the Labuan International Financial Exchange.
“More than 60 countries are now represented in the Labuan IOFC through offshore firms, reflecting an increasing global awareness as well as recognition and acceptance of Labuan as an attractive, viable and cost-effective offshore base,” she told the assembled delegates.
According to Rosnah, Losfa has registered some 3,865 offshore firms which includes the top twenty global banks, high-profile insurance firms, leasing fund management companies and professional service providers.
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