Labuan Financial Services and Securities Act 2010 · Updated to 15 Oct 2022 · Part VI · Labuan Banking
89. Application for licence to carry on Labuan investment banking business
Feedback & supportAn application for a licence to carry on Labuan investment banking business shall be made in writing by or on behalf of the applicant to the Authority and the provisions of section 88
relating to Labuan banking business shall apply similarly save that
Labuan banking business
“Labuan banking business” means— (a) the business of receiving deposits on current account, deposit account, savings account or any other account as may be specified by the Authority; (b) Labuan investment banking business; (c) Labuan financial business; (d) Labuan Islamic banking business; (e) such other business as the Authority, with the approval of the Minister, may specify, in any currency (including ringgit where permitted by the *Exchange Control Act 1953 or such other relevant law in force);
“Labuan banking business” shall be read as “Labuan investment banking business”.
Labuan investment banking business
“Labuan investment banking business” means— (a) the business of providing credit facilities; (b) the business of providing consultancy and advisory services relating to corporate and investment matters, including dealing in securities, or making and managing investments on behalf of any person; (c) the business of undertaking foreign exchange transactions, interest rate swaps, dealings in derivative instruments or derivative financial instruments or any other similar risk management activities; (d) Labuan Islamic investment banking business; *NOTE—The Exchange Control Act 1953 has since been repealed by the Financial Services Act 2013 which comes into operation on 30 June 2013—see sections 271 and 272…