Please use this identifier to cite or link to this item: http://ddms.usim.edu.my:80/jspui/handle/123456789/5585
Title: Labuan International Offshore Financial Center (Labuan IOFC): Performance, Challenges and Prospects
Authors: Nursilah Ahmad
Zurina Kefeli @ Zulkefli
Issue Date: 2002
Publisher: Kolej Universiti Islam Malaysia
Abstract: Labuan was declared as an International Offshore Financial Centre (IOFC) in 1990, with a goal of developing an international Malaysian capital market. Malaysian government has spared nothing in building up-to-date infrastructures in Labuan to portray the image of world class IOFC. Its objective is to be a financial 'supermarket' offering a wide range of offshore financial products, which specializes in Islamic financial instruments. Labuan has done well at the onset of its operation by attracting some renowned world-class international banks, including triple-A rating of Bayerische Landesbank. However, the financial crisis that hit Asia in 1997 did indeed some damages to the rising IOFC. In the meantime, many Islamic countries are also in doubt on some of its Islamic financial instruments, making its niche fumbled. Recent developments in Islamic financial instruments, nevertheless, have given Labuan its much needed vehicle to survive and excel.
URI: http://ddms.usim.edu.my/handle/123456789/5585
ISSN: 1675-5936
Appears in Collections:'Ulum Islamiyyah, Vol. 1,2002

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