Malaysia's International Offshore Financial Centre: An Examination of Labuan's Development and Operations

Skully, Michael T.
March 1995
ASEAN Economic Bulletin;Mar1995, Vol. 11 Issue 3, p335
Academic Journal
In 1990, Malaysia announced its plan for a regional financial centre to be established on the island of Labuan. The government invested substantial funds in providing the appropriate legislation, infrastructure, and other factors required for a financial centre. This article examines Labuan's history thus far, and its current operations in offshore banking, offshore insurance, trust and funds management, and tax planning. The article concludes that while Labuan has made considerable progress in improving its competitive position against other centres, significantly more investment is still required.


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