LABUAN INTERNATIONAL BUSINESS AND FINANCIAL CENTRE LAUNCHES ASEAN ROADSHOW 2016
Kicks off in Jakarta with a masterclass on Islamic Wealth Management
Kuala Lumpur, 20 April 2016 – Labuan International Business and Financial Centre (Labuan IBFC), Asia Pacific’s midshore international business and financial centre, launched a series of Roadshows across ASEAN today with a masterclass in Jakarta. The Labuan IBFC ASEAN Roadshow 2016 will visit key countries in ASEAN and, for the first time will include events as well as closed door briefings in the emerging economies of Cambodia, Laos, Vietnam and Myanmar. The roadshows which kick off in Jakarta today, will continue through till end July.
“Our approach to the roadshow this year is distinct as we are targeting business owners in the region looking to internationalise or even regionalise their businesses. We believe that with as businesses embrace higher tax transparency requirements, it would be natural for them to consider to establishing substance in a well-regulated jurisdiction facilitate cross border transactions and investments.” said Danial Mah Abdullah, Chief Executive Officer, Labuan IBFC.
He went on to state that the Roadshow will also focus in meeting the wealth management needs in the region, adding that as ASEAN has a large Muslim population, the Jakarta chapter of the Roadshow focuses on Shariah-compliant wealth management solutions. Themed “Innovative Solutions towards Islamic Wealth Management” the masterclass is aimed at Indonesian service providers, intermediaries and high net worth individuals who are looking to better understand Shariah-compliant wealth management offerings, wealth preservation and succession planning solutions.
Mah, who is also the Deputy Director General of Labuan FSA, in his speech at the Jakarta chapter of the Roadshow said “What makes Labuan IBFC different is that it was established with the main aim of intermediating cross border trade and investments in the region. The expectations are that intra-Asia and ASEAN trade and investments will grow, and there is a need for a well-regulated jurisdiction in the region able to facilitate these trades and investments”.
The masterclass included a presentation on the Labuan International Waqf Foundation, a Shariah-compliant wealth management tool, which incorporates the element of waqf in its structure. Labuan IBFC is the only jurisdiction in the region offering Foundation structures including Islamic Foundations with waqf elements built in.
The event also included a panel session titled “Opportunity and Challenges: Islamic Wealth Management in Asia” with Dr Aida Othman, Director at ZICO Law Shariah Advisory Services, Maikel Sajangbati, CEO and Founder of MaeSa Consulting Indonesia as well as Aderi Adnan, Business Development Director of Labuan IBFC.
The panel focused on the new Islamic wealth management environment in light of more stringent global regulatory requirements, evolving Islamic wealth management strategies amidst changing family legacy mind-sets, experiences and cultural differences in Asia.
For more information, please refer to http://www.labuanibfc.com/events.html.