ABOUT ECIB.

EC Investment Bank is based in Labuan – A federal territory of Malaysia. It is made up of the eponymous Labuan Island and six smaller islands and is located off the coast of the state of Sabah in East Malaysia. In 1990 the Federal Territory of Labuan was declared IOFC (International Offshore Financial Centre). Labuan’s capital is Victoria and is best known as an offshore financial centre offering international financial and business services via Labuan IBFC since 1990 as well as being an offshore support hub for deepwater oil and gas activities in the region.

European Credit Investment Bank Ltd is a licensed offshore investment bank approved by Ministry of Finance and Labuan Financial Services Authority (Labuan FSA) since 2008.

Labuan Financial Services Authority

Labuan Financial Services Authority (Labuan FSA) was established on 15 February 1996 under the Labuan Financial Services Authority Act 1996. Labuan FSA is the statutory body responsible for the development and administration of the Labuan International Business and Financial Centre (Labuan IBFC).

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LABUAN OVERVIEW

Labuan IBFC, regulated by Labuan FSA, has a comprehensive, modern and globally-recognised regulatory framework. The jurisdiction’s adherence to international standards and best practices in financial services and prudential supervision, including protocols on anti-money laundering and exchange of information and regulatory requirements set by the Organisation of Economic Co-operation and Development (OECD), reinforces Labuan IBFC’s commitment to ensuring a safe and secure business environment.

Labuan IBFC’s simple and straightforward tax system applies to Labuan entities carrying on a Labuan business activity under the Labuan Business Activity Tax Act 1990. It has an unambiguous fiscal framework that provides an ideal ecosystem for global companies to house their international dealings and transactions. As Asia Pacific’s premier midshore international business and financial centre, Labuan IBFC provides a wide spectrum of financial products and services for corporations and individuals, both in the conventional and Islamic space. The jurisdiction has moved beyond banking, capital markets, leasing and insurance to also include protected cell companies, partnerships, trusts, foundations and an international shipping registry, among others.

Labuan IBFC’s comprehensive regulatory framework provides for a broad range of legal entities including companies limited by shares or by guarantee, foundations, special purpose trusts, protected cell companies, captives, limited liability partnerships and private trust companies. The introduction of the – the world’s first omnibus legislation governing all Shariah-compliant businesses in an international business and financial centre – provides a greater degree of comfort and certainty to businesses and investors as it covers every aspect of Shariah-compliant financial services, with the establishment of its own Shariah Supervisory Council.

Labuan FSA via a circular to all financial institutions reinforced the agreement in substance between the Malaysian Government and the United States Treasury reached in June 2014, towards the implementation of the Foreign Account Tax Compliance Act (FATCA) in Labuan IBFC. It said that the agreement in substance will remain effective until a formal Inter-Governmental Agreement is signed.

European Credit Investment Bank Ltd is a licensed offshore investment bank approved by Ministry of Finance and Labuan Financial Services Authority (Labuan FSA).