Labuan Financial Services Authority

Malaysia regulations

Labuan FSA is the statutory authority that licenses and supervises financial businesses in the Labuan International Business and Financial Centre (Labuan IBFC). It was set up on 15 February 1996 under the Labuan Financial Services Authority Act 1996.

SmartChecker links every fact on this page to Labuan FSA’s own published source.

About Labuan Financial Services Authority

Labuan FSA runs Labuan IBFC, Malaysia’s international business and financial centre on the island of Labuan. Every bank, money broker, insurer and other financial business operating there needs a Labuan FSA licence and stays under its supervision.

What it does

  • Promotes and develops Labuan as an international centre for business and financial services.
  • Sets the policies and priorities for how the centre is developed and run.
  • Acts as the central regulator, supervisor and enforcement authority for Labuan’s financial industry, and checks that licensed entities follow Labuan law and the international standards Malaysia has adopted.

Can you rely on it?

Yes. Labuan FSA is a government statutory body created by an Act of Parliament, and it is the authority that grants, supervises and enforces Labuan licences. Its Financial Institutions Directory is the authoritative list of licensed Labuan entities, and its business restriction register names licensed entities that may not carry on business. SmartChecker checks every Labuan company against both.

Source: About Labuan FSA

Who runs Labuan FSA

Members of the Authority

Labuan FSA is run by its Members of the Authority. They are appointed, not elected, and most hold a senior post elsewhere in Malaysian government or finance at the same time.

  • Datuk Ahmad Hizzad BaharuddinChairmanLabuan Financial Services Authority
  • Affendi RashdiDirector GeneralLabuan Financial Services Authority
  • Steven Choy Khai ChoonChairmanZurich General Insurance (M) Bhd and Zurich Life Insurance (M) Bhd
  • Dato' John Patrick AntonysamyUnder Secretary of Tax DivisionMinistry of Finance Malaysia (MOF)
  • Dr. Aida OthmanBoard MemberZICO Shariah Advisory Services Sdn Bhd.
  • Datuk Nor Azimah Abdul AzizFormer CEOCompanies Commission of Malaysia (SSM)
  • Mohamad Ali Iqbal Abdul KhalidAssistant GovernorBank Negara Malaysia
  • Datuk Hisham bin RusliDeputy Chief Executive Officer (Policy)Inland Revenue Board of Malaysia (IRBM)
  • Dato' Zain Azhari MazlanExecutive DirectorSecurities Commission of Malaysia (SC)

Source: Labuan FSA — Authority members · as read on .

Regulator details

Full name
Labuan Financial Services Authority
Short name
Labuan FSA
Type
Statutory body
Established
Set up under
Labuan Financial Services Authority Act 1996
Covers
Labuan IBFC
Official registers
Financial Institutions Directory
Business restriction register
Source
About Labuan FSA
SmartChecker checked
Website
labuanfsa.gov.my