With a complete suite of Islamic financial structures and solutions, effective regulatory standards, a facilitative business environment as well as a Shariah Supervisory Council (SSC), Labuan FSRP is well-positioned to cater to the needs of the global Islamic industry.
Underpinning these innovative structures is Labuan FSRP’s comprehensive infrastructure with dedicated legislations, Shariah governance and fiscal incentives for Shariah-compliant financial transactions providing a facilitative and flexible framework for industry players.
Operating as an Islamic financial entity in Labuan FSRP, means that Shariah compliance is endorsed by the Labuan Financial Services Authority’s SSC comprising leading global Shariah scholars and practitioners. Unlike other similar bodies in other jurisdictions, Labuan FSRP’s SSC takes on a supervisory role, not merely advisory, and hence SSC rulings are able to be used as reference in the court of law.
With this infrastructure, Labuan FSRP has become an innovative bed for Islamic financial products. It is home to the world’s first USD denominated exchangeable sukuk and reinforced Malaysia’s position as the global leader in sukuk issuance.
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