Labuan IBFC and QFC Sign MoU; Islamic Finance Collaboration is Part of Plan

On the 15th of April 2021, Labuan International Business and Financial Centre (Labuan IBFC) and Qatar Financial Centre Authority (QFC) signed a Memorandum of Understanding (MoU) in order to strengthen financial ties. Chief Executive Officer (CEO) of Labuan IBFC, Farah Jaafar-Crossby, and CEO of QFC, Yousuf Mohamed Al-Jaida, signed the MoU.

Why it Matters?

Labuan IBFC and QFC are strategically situated in Asia and the Middle East, respectively and are significant catalysts for regional economic growth. The goal is to create a mutually beneficial framework to enable the relevant financial institutions in the respective jurisdictions to operate in the other’s territory. They have agreed to collaborate on financial sector domains such as setting up...