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

December 6, 2004

Summary

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.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Crime, Financial institutions, Financial services, Insurance companies, Money laundering, Offshore financial centers, Terrorism financing

Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), Asia and Pacific, company compliance, company registrar, CR, due diligence, Europe, Insurance companies, insurance market, ISCR, Labuan bank assets, Labuan IOFC, legal system, Money laundering, North America, Offshore financial centers, problem company, public funds, risk management, securities industry, staff resource, terms and conditions, Terrorism financing

Pages:
54
Volume:
2004
DOI:
https://doi.org/10.5089/9781451828313.002
Issue:
391
Series:
Country Report No. 2004/391
Stock No:
1MYSEA0022004
ISBN:
9781451828313
ISSN:
1934-7685

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