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This initiative highlights Labuan IBFC’s role in advancing Islamic finance, digital asset innovation and cross-border wealth solutions
KUALA LUMPUR, Malaysia, May 21, 2026 /PRNewswire/ — Labuan IBFC Incorporated Sdn Bhd (Labuan IBFC Inc.), the official marketing agency for Labuan International Business and Financial Centre (Labuan IBFC), together with the Association of Shariah Advisors in Islamic Finance Malaysia (ASAS), recently hosted a knowledge-sharing session highlighting opportunities in Islamic finance, encompassing Shariah-compliant fintech, captive and cross-border wealth management solutions within Labuan IBFC.
Representatives from Labuan IBFC Inc., Labuan FSA and ASAS at the commencement of the training programme
The hybrid event gathered Islamic finance professionals and Shariah advisers from Malaysia and abroad to explore Labuan IBFC’s proposition as global business hub offering Islamic finance solutions. Participants gained key insights into the digital acceleration of Islamic finance and its innovative financial structures.
In his opening remarks, Tn. Haji Makhtar Abdullah, CEO of ASAS, commented, “The future of Islamic finance will depend not only on products and regulations, but also on the quality, integrity, and commitment of the talents who guide the industry forward. Therefore, I hope today’s programme will serve as a catalyst that inspires all of us, as ASAS members, to continue contributing our Shariah knowledge and expertise towards strengthening the Islamic finance ecosystem.”
Delivering the keynote address, Mr. Ben Quah, CEO of Labuan IBFC Inc., underscored Labuan IBFC’s position as Asia’s premier international financial hub. “Labuan IBFC’s robust Islamic finance framework has successfully positioned the jurisdiction as a leading global hub in this sector. Consequently, we are confident that this collaboration with ASAS will further accelerate and advance the Islamic finance agenda,” he said.
The event proper commenced with a presentation titled Introduction to Labuan IBFC – Asia’s Premier International Financial Hub, which provided a comprehensive overview of the jurisdiction and detailed how businesses can leverage Labuan IBFC’s strategic advantages for cross-border expansion.
The main session focused on the Islamic Digital Asset Centre (IDAC). The presentation explored how Labuan IBFC’s IDAC initiative drives Islamic digital finance beyond Labuan IBFC, highlighting emerging opportunities in digital banking, fintech innovation and broader digital financial services.
Additionally, the session underscored the growing relevance of captive takaful structures as a strategic tool for risk management and cost optimisation, while showcasing Islamic wealth management solutions for asset protection, succession planning and cross-border wealth structuring.
This training session builds upon the strategic partnership established under the Memorandum of Understanding (MoU) signed between Labuan IBFC Inc. and ASAS. For more information on Labuan IBFC and its Islamic finance solutions, visit www.labuanibfc.com
