2 January 2018Asia-Pacific analysis

Labuan Financial Centre appoints new CEO

Labuan International Business and Financial Centre (Labuan IBFC) has appointed Farah Jaafar Crossby as CEO, effective from January 1, 2018, where she will take helm of the midshore jurisdiction’s promotion and marketing arm.

Crossby previously headed the marketing intelligence and strategic communications unit at Labuan IBFC, and prior to this was the general manager of the Association of Stock Broking Companies Malaysia. She also worked with Bursa Malaysia as well as the Asian Institute of Finance.

Chairman Dato Azlan Mohd Hashim said Crossby was the best candidate to assume this leadership role to promote Labuan IBFC, citing her years of experience in financial services from both the onshore and offshore perspectives.

“Farah brings unique perspectives in her ability to translate vision and strategy into execution. This combined with her deep industry knowledge in both financial services and marketing makes her the natural choice to lead Labuan IBFC Inc,” Azlan said.

Crossby added: "The opportunities that lie ahead for Labuan IBFC are enormous and it is deeply humbling and exciting to be able to take on this responsibility especially as the jurisdiction is set to undergo a transformative period. I look forward to working together with all stakeholders in better articulating Labuan IBFC’s unique value propositions as we work together to enhance Labuan IBFC’s global and domestic profile."

Labuan IBFC helps to facilitate cross-border transactions, international business dealing and wealth management needs for businesses looking to penetrate Asian markets, in particular Malaysia.

It also serves as a hub for Islamic finance, especially in the areas of Sukuk issuance and listing, takaful and re-takaful, Shariah-compliant captive structures and Islamic trusts and foundations.