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Kota Kinabalu: Labuan Corporation Chairman Dato’ Mohd Husni Mohamed Salleh (pic) is keen to reset the Federal Territory of Labuan International Business & Financial Centre (IBFC)’s position as a premier midshore financial hub through two key initiatives.
The first – the Labuan Reset Agenda – is a strategic framework to strengthen regulation and modernise the business ecosystem for long-term sustainability.
There are some 4,971 operating companies in Labuan active across banking, insurance, leasing besides others.
The second is Invest Labuan to attract quality investments and promote economic diversification across key sectors.
He hoped these initiatives would positioning Labuan IBFC as Asia’s premier midshore financial hub, boasting 35 years of evolution bridging offshore flexibility with onshore credibility.
Labuan’s total assets across its financial sector totalled US$94 billion as at 2025.
Offshore flexibility entails having streamlined structures, tax efficiency, and seamless cross-border operations, whilst onshore credibility involves being FATF-compliant (Financial Action Task Force’s standards for preventing money laundering and terrorist financing), with internationally recognised regulation aligned to global standards.
Elaborating on Labuan’s modern midshore advantage, he explained that in 2025, “Labuan IBFC demonstrated resilient, sustainable growth, underpinned by a complete financial ecosystem and a future-focused strategic vision.
“Vision 2026 is a clear strategic roadmap to deepen regional financial inclusivity and expand Labuan’s role in sustainable and digital finance.”Complete financial ecosystem comprises conventional, Shariah-compliant, and digital financial solutions, including captives, wealth management, and the pioneering Climate Sukuk.
Global recognition entails debut in the Global Financial Centres Index and favourable FATF compliance status which confirm Labuan’s standing as a credible international centre.
The Labuan Corporation Chairman was promoting Labuan to the business audience at the 3rd BIMP-EAGA Trade, Investment and Halal Industry Conference themed: “Connecting Markets, Scaling Values” on Tuesday, Sept 2, 2026 at the Sabah International Convention Centre (SICC) at the Conference Synthesis & Insights tagged: “The Way Forward for BIMP-EAGA Halal Trade and Industry”.
“Strategically located off the northwest coast of Borneo, Labuan is an island federal territory of Malaysia, often referred to as the ‘Pearl of Borneo’. Its prime location makes it a vital hub for trade, finance, and tourism in the region.
“The name Labuan originates from the local language of the Bruneian community – ‘Labuhan’ or anchorage – a place where fishermen would anchor and seek shelter during stormy weather.”Labuan was declared a Free Port in 1956, a year before Malaya declared its independence from the British. In 1962, Labuan was part of Sabah in the formation of Malaysia.
In 1984, Labuan was declared a Federal Territory. In 1990, Labuan was declared as an International Offshore Financial Centre.
Husni remarked on one of the regional realities: “Despite a US$3trillion global Islamic economy and BIMP-EAGA’s 82.68 million people and US$411.32 billion GDP, our Brunei Darussalam - Indonesia - Malaysia - Philippines East Asean Growth Area region remains trapped exporting raw biological assets at low value while importing refined intermediate chemicals at astronomical valuations.”Husni is the President and CEO of digital media tech company Planet Mahir Sdn Bhd, a government appointee with over 36 years of leadership experience.
Husni was the founding CEO of Teraju under the Prime Minister’s Department and served in the National Bumiputera Economic Council leading the secretariats for the same councils of Sabah and Sarawak, as well as CEO of Mavcap, the federal government backed venture capital firm.
