In an increasingly open and liberal financial market, what becomes of Labuan, Malaysia's international financial hub on the north coast of Borneo, and in particular its Islamic arm, Labuan International Business and Financial Centre (IBFC)? There is still a role, says David Kinloch, CEO of Labuan IBFC. "Malaysia's aim of becoming an international financial center is the backbone of Labuan IBFC's growth over the years," says Kinloch. "We believe the government's stance of recognizing financial services as a key economic driver only strengthens Labuan IBFC's position both domestically and internationally."
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