Labuan: The Labuan International Business and Financial Centre (Labuan IBFC) has reached a defining chapter in its 35-year journey, standing as a resilient, innovative, and globally recognized hub for financial services.

According to BERNAMA News Agency, Labuan Financial Services Authority (Labuan FSA) director general Affendi Rashdi noted that the centre’s growth since its inception in 1990 reflects its ability to adapt to global and regional financial upheavals while maintaining its credibility and competitive edge. He emphasized that the journey hasn’t always been smooth, but Labuan IBFC has endured, adapted, and emerged stronger than ever.

Affendi expressed appreciation to ministries, government agencies, peer regulators, industry players, and market partners, both local and international, who have contributed to the centre’s success. The anniversary coincides with Malaysia’s chairmanship of ASEAN, a timing which Affendi said is more than symbolic, reinforcing Labuan IBFC’s strategic role in linking Malaysia’s economy with the region.

He highlighted Labuan IBFC’s pivotal role in ASEAN integration since hosting the ASEAN Infrastructure Fund in 2012 and its growing importance in the Brunei Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA). As part of that expansion, Labuan IBFC recently introduced the BIMP-EAGA Digital Wallet Initiative, aimed at promoting financial literacy, digital savings, and inclusion across ASEAN communities.

Affendi concluded by stating that Labuan IBFC continues to play a pivotal role in catalyzing regional business growth, financial inclusion, and integration, advancing ASEAN’s shared vision of deeper economic connectivity and prosperity.