KUALA LUMPUR, Oct 29 (Bernama) — Labuan International Business and Financial Centre Incorporated (Labuan IBFC Inc), the market development agency for Labuan International Business and Financial Centre (Labuan IBFC), and China Construction Bank Corporation Labuan Branch (CCBL), a branch of China Construction Bank Corporation, have inked a Memorandum of Understanding (MoU) to allow CCBL to promote the benefits of Labuan IBFC to Chinese and Chinese related companies, in addition to supporting the advancement of FinTech development in the jurisdiction.
“We are extremely pleased to be partnering with CCBL, part of the second largest bank in the world, providing a key enabler towards further strengthening our footprint in China and in countries which form the Belt and Road Initiative,” said Farah Jaafar-Crossby, CEO of Labuan IBFC Inc. during the official launch of CCBL in Labuan.