This follows the recently signed MoU between both parties
KUALA LUMPUR, Malaysia, Oct. 31, 2022 /PRNewswire/ -- Delegates from Labuan International Business and Financial Centre Incorporated Sdn Bhd (Labuan IBFC Inc.), the official marketing agency for the Labuan Business and Financial Centre (Labuan IBFC) visited Bandung, Indonesia to kickstart joint marketing initiatives post the signing of the Memorandum of Understanding (MoU) between Labuan IBFC Inc. and Kamar Dagang dan Industri Indonesia (KADIN) of West Java in Labuan, Malaysia on 16 September 2022.
The visit was meant to highlight and promote the recent MoU signing to members of KADIN West Java as well as the Indonesian media. To recap, the MoU aims to support Labuan IBFC Inc.'s market development activities in Indonesia and to enable the members of KADIN West Java to leverage on Labuan IBFC's suite of products and services according to their business requirements.
The MoU shall be valid for a term of five years. Labuan IBFC Inc.'s initiatives under the MoU include providing access and introduction to any interested parties that are looking to establish a base in Labuan IBFC, furnishing marketing and promotional materials to promote the Labuan financial hub in Indonesia, and others that benefit both parties, or even countries.
Mr. Raditya Indrajaya, Chairman of KADIN West Java opened the ceremony with his welcome remarks. He commented, "It has always been my dream for KADIN to partner with such a prestigious jurisdiction as Labuan IBFC. I had this vision when I first visited the island of Labuan many years ago. We are confident that the MoU will lead to enhanced economic and trade exchanges between both countries."
In response to the welcome, Datuk Iskandar Mohd Nuli, Executive Chairman cum CEO of Labuan IBFC Inc. said, "We are humbled to be partnered with KADIN West Java as we can foresee the significant benefits this collaboration will bring to both countries, taking into account the spillover from the MoU-led initiatives, especially in aiding the growth and expansion of Indonesian SMEs as well as private and government-owned enterprises in the next five years".
This was followed by a business presentation by Datuk Iskandar Mohd Nuli which outlined Labuan IBFC's unique propositions and supportive ecosystem for global companies establish their base in the jurisdiction. He also elaborated on Labuan IBFC's flagship products such as banking, wealth management, captive insurance, Islamic finance and leasing which are available in conventional, Shariah and digital forms. The ceremony adjourned with a networking session between Labuan IBFC Inc. delegates and KADIN West Java members.
As Malaysia's international business and financial centre, Labuan IBFC currently houses and supports more than 880 licensed institutions and more than 17,000 companies. These include international organisations in banking, leasing, capital markets, insurance, reinsurance, risk management, and wealth management.
Visit www.labuanibfc.com for more information on Asia's premier international financial hub.