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ABOUT LABUAN
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Labuan Financial Service Authority (LFSA)
The Labuan Financial Service Authority (LFSA) is a statutory body establish on 15 February 1996 under the Labuan Financial Services Authority Act 1996. The main purpose of the establishment of LFSA is to responsible for the development and administration of Labuan International Business Financial Centre.
Labuan FSA licenses and regulates licensed entities operating within Labuan IBFC and to ensure all such entities remain in compliance with the Labuan laws and regulations and adhere to the international standards, which are adopted by the jurisdiction. Labuan FSA develops regulatory policies to ensure orderly conduct of business and financial services in Labuan IBFC.
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Labuan FSA has been entrusted with the following functions:
To administer, enforce, carry out and give effect to the provisions of the Labuan IBFC laws.
To exercise, discharge and perform such powers, duties and functions in accordance with the laws.
To carry out research and commission studies on financial services in Labuan IBFC.
To maintain the good reputation of Labuan IBFC as an international busines and financial centre.
To advise and make recommendations to the government on matters relating to financial services in Labuan IBFC
To make recommendations for the creation and improvement of facilities to enhance the attraction of Labuan IBFC as a centre for financial services.
To collaborate with Labuan financial institutions and industry associations in advancing the development and growth of businesses and financial services in Labuan IBFC.
To carry out all such activities and undertaken measures to enable appropriate administration of the Authority, or for other purposes as mandated by the Minister.