Labuan, Malaysia: Assessment of the Supervision and Regulation of the Financial Sector—Review of Financial Sector Regulation and Supervision

International Monetary Fund

No 2004/391, IMF Staff Country Reports from International Monetary Fund

Abstract: This Review of Financial Sector Regulation and Supervision in Labuan, Malaysia, highlights the supervisory and antimoney laundering frameworks. Labuan, an offshore financial center located in Malaysia, has all the essential elements for a suitable framework for financial supervision. Nonperforming loans are relatively high in the banking sector, and demand for credit has been soft. Securities and capital market activities in Labuan are still embryonic, and the supervisory regime for this sector will need to be fleshed out as business develops.

Keywords: ISCR; CR; securities industry; due diligence; legal system; public funds; Labuan IOFC; problem company; company compliance; terms and conditions; Labuan bank assets; insurance market; risk management; staff resource; company registrar; Anti-money laundering and combating the financing of terrorism (AML/CFT); Offshore financial centers; Insurance companies; Money laundering; Terrorism financing; North America; Europe; Asia and Pacific (search for similar items in EconPapers)
Pages: 54
Date: 2004-12-06
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