Labuan IBFC could expand Malaysia’s Islamic fintech

The Labuan International Business and Financial Centre (Labuan IBFC) can become a platform to expand Malaysia’s capabilities in digital Islamic finance and the government is prepared to collaborate with relevant stakeholders to realise the goal, Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said.

He said the government is ready to broaden digital Islamic finance as an alternative to conventional financial technology (fintech) especially as the economy begins to recover and gain momentum in 2022.

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