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Labuan Offshore Financial Services Authority To Hold Annual Lecture Series 2000

Mary Swire, Tax-news.com, Hong Kong

20 November 2000


The Labuan Offshore Financial Services Authority (Lofsa), the regulatory arm of Bank Negara, will hold its Annual Labuan Lecture Series 2000 on 23 and 24 November in the up-and-coming jurisdiction. Lofsa director general Mohd Razif Abdul Kadir said the annual event, which would be held at the Labuan Financial Park Complex, was expected to be launched by Finance Minister Tun Daim Zainuddin.

Mr Razif said: 'Among the topics to be discussed are Islamic banking and finance, money laundering, offshore insurance, e-commerce and offshore tax planning.' He added that the main topic in this year's lecture series would be the formation of the Labuan International Financial Exchange, which was officially launched in October. An offshore exchange wholly owned by the Kuala Lumpur Stock Exchange and trading in financial instruments such as equities, investment funds, debt instruments and insurance-related instruments, it is seen as one of the the key components in promoting Labuan as an offshore financial centre.

Mr Razifsaid said Lofsa, which is responsible for processing and granting applications for licences to operate business in Labuan, would also stress the importance of e-commerce, as the organisation is due to launch the so-called E-commerce Gateway on November 23.

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