Labuan IBFC’s business ops, policy remain unchanged


The central regulatory, supervisory and enforcement authority of the international business and financial services industry in Labuan said its director-general, Datuk Danial Mah Abdullah,(pic) and chairman, Datuk Azizan Abdul Rahman have resigned from their posts on April 9 and April 12, respectively.

LABUAN: The Labuan Financial Services Authority (Labuan FSA) has reassured its license holders, intermediaries, advisors and the general marketplace that the recent changes to its personnel – both at the operational level as well as its board – will not affect its day-to-day operations.

The central regulatory, supervisory and enforcement authority of the international business and financial services industry in Labuan said its director-general, Datuk Danial Mah Abdullah, (pic) and chairman, Datuk Azizan Abdul Rahman have resigned from their posts on April 9 and April 12, respectively.

In a statement to Bernama yesterday, Labuan FSA said measures have been put in place with regards to the succession in the management roles, as evidenced by the appointment of Datuk Iskandar Mohd Nuli as acting director-general.

“Additionally, there will be no changes to the senior management of the regulator, allowing for business continuity.

“There will also be no changes to its market development subsidiary, Labuan IBFC Inc, which will continue to work with stakeholders towards ensuring the continued growth of the jurisdiction, ” it said, adding that it is currently liaising with the Ministry of Finance on the appointment of the next director-general and chairman. — Bernama

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