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With the enactment of the new laws, Labuan Offshore Financial Services Authority (LOFSA) will be referred to as Labuan Financial Services Authority ("Labuan FSA"). The changes cover all financial activities in Labuan IBFC – from banking, insurance, leasing and company incorporation to the creation of Islamic financial products and services. The new Laws also allow for the creation of Labuan foundations, limited liability partnerships, protected cell companies (insurance and mutual funds), shipping operations, Labuan special trusts and financial planning activities. |
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