Dear Friends of Labuan,
What a year it has been! Am sure last December none of us ever imagined the challenges and changes we now face on a daily basis. Personally, I would like to look back at 2020 as the year we expanded our horizons, personally and professionally, allowing us to better appreciate the tenacity and adaptability we each possess.
And this also holds true for Labuan IBFC. The jurisdiction continues to attract growth particularly in Digital Financial Services with 17 new approvals for the first three quarters of the year, with banking and insurance being the key sectors as well as other business sectors remaining resilient in spite of the pandemic. For a snapshot of our key events this year, please do have a look at this month's feature ‘2020 In Brief'.
It is indeed true that goodwill and friendships are tested during the hardest of times. Therefore, I would like to take this opportunity to thank all our intermediaries and partners, without whom, 2020 would have been a completely dismal period. The team and I really look forward to meeting all of you again soon.
Looking forward, the development of numerous vaccines and the growing economic outlook in certain pockets of the world, does indeed bode well for 2021. As Albert Einstein once said, “in the midst of every crisis, lies great opportunity”.
Stay safe everyone and let us all be truly thankful for our blessings this year.
Chief Executive Officer, Labuan IBFC Inc.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.