KUALA LUMPUR, Malaysia, Oct. 16, 2025 /PRNewswire/ — Labuan IBFC Incorporated Sdn. Bhd. (Labuan IBFC Inc.) and the Association of Shariah Advisors in Islamic Finance Malaysia (ASAS) have formalised their strategic partnership through the signing of a Memorandum of Understanding (MoU). The event took place yesterday at Sasana Kijang, Kuala Lumpur, in conjunction with the Global Islamic Finance Forum (GIFF) 2025.
Datuk Chin Chee Kee, Board Member of Labuan IBFC Inc. and Mr Makhtar Abdullah, Chief Executive Officer of ASAS signing the MoU
This landmark MoU reflects both institutions’ shared commitment to advancing the Islamic finance landscape by strengthening collaboration in key areas including business development, talent development, research, and advocacy. The partnership is timely, aligning with the growing global demand for Islamic finance solutions rooted in innovation, ethical practices, and sustainable development.
Strategic priorities include advancing research on emerging issues, enhancing Shariah governance, and increasing market awareness through co-hosted events, publications, and outreach. Both parties are committed to deepening collaboration to strengthen and grow the Islamic finance ecosystem.
“The signing of this MoU marks a pivotal step forward for Labuan IBFC as we continue to position the jurisdiction as a centre of excellence for Islamic financial services,” said Datuk Chin Chee Kee, Board Member of Labuan IBFC Inc. He further added, “ASAS’ strong foundation in Shariah principles, integrated with our global Shariah-compliant business platform, forms a powerful synergy that broadens access, strengthens governance, and fosters sustainable growth.”
ASAS, as the national body dedicated to the professional development of Shariah advisors in Islamic finance, recognises the strategic value of this collaboration.
“We are proud to partner with Labuan IBFC Inc. in this forward-looking initiative,” commented Mr Makhtar Abdullah, Chief Executive Officer of ASAS. “This MoU not only fosters institutional collaboration but also strengthens the broader ecosystem by creating opportunities for meaningful dialogue, innovation, and the advancement of Islamic finance in Malaysia and beyond.”
The collaboration supports Malaysia’s long-term ambition to be a global leader in Islamic finance thought leadership. It also reinforces Labuan IBFC’s role as a complementary jurisdiction within the broader Malaysian financial services framework, offering unique structures and regulatory flexibility that add depth to the national Islamic finance proposition.
This partnership is set to catalyse high-impact initiatives that blend regulatory insight, robust Shariah governance, and strategic market engagement. The shared goal is to foster a more resilient, inclusive, and globally connected Islamic finance ecosystem that meets evolving market needs and supports sustainable growth.
