Dewan Negara approves Labuan-related Bills under Finance Ministry | Malay Mail

KUALA LUMPUR, March 31 — Three bills under the Ministry of Finance which seek, among others, to modernise and update the legal aspects of the Labuan International Business and Financial Centre were passed in the Dewan Negara today

Meanwhile, the Labuan Islamic Financial Services and Securities Bill 2022 to amend the Labuan Islamic Financial Services and Securities Act 2010 was also debated and passed. “Based on the risk assessment made on Malaysia including Labuan IBFC under the Financial Action Task Force in 2014, the FATF has proposed several measures to be taken to prevent and combat money laundering and terrorist financing activities.

He said amendments to Act 441 were also made so that Labuan IBFC could comply with international tax standards to address the problem of tax revenue leakage and earnings transfer.

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Finance Ministry approved Felcra’s RM150m unit trust investment after proposal submitted by Bung Moktar, witness tells court | Malay MailKUALA LUMPUR, March 29 — The Sessions Court was today told that the Finance Ministry agreed to approve the RM150 million investment by the Federal Land Consolidation and Rehabilitation Authority (Felcra ) in Public Mutual Berhad unit trust after three investment proposal papers were submitted by...
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