BANK ISLAM TRUST LTD. STRENGTHEN RELATIONSHIP WITH LABUAN IBFC IN DUBAI
Event Summary
Bank Islam Trust and LIBFC have jointly arranged a Masterclass to enhance the significance of their engagement and network in the Middle East market. The Masterclass was held at the Fairmont Hotel, Dubai to explore the advantages and opportunities offered by the Labuan Jurisdiction, with a focus on Bank Islam Trust’s offerings in Wealth Management and Legacy Preservation. The speech and panel session allowed participants to gain insights into leveraging Labuan’s unique attributes for successful business expansion strategies, particularly with the latest target, the Islamic Digital Asset Centre (IDAC) in Labuan IBFC. The event centered on Labuan’s wealth management opportunities and unique benefits, emphasizing strategic insights for leveraging Labuan IBFC as a hub for business expansion. Participants explored Labuan Foundation’s specialized features, including business structuring with IDAC elements. Engaging in dynamic Q&A sessions with panelists allowed for direct interaction and connection with industry experts during networking sessions, enhancing partnerships and expanding business operations in Labuan.
The Masterclass presented several key opportunities for Bank Islam Trust. Bank Islam Trust together with LFSA collaborated to explain the wealth management products and opportunities available within Labuan IBFC, emphasizing the benefits of the IDAC structure. Bank Islam Trust offers a wide range of services in fund management, retail banking, wealth management, and investments, catering to both Labuan and the broader BIMB Group. Bank Islam Trust also serves as a key facilitator for clients looking to open bank accounts, whether offshore with BILOB or domestically with BIMB, ensuring seamless processes and compliance with regulatory requirements. Bank Islam Trust invited DR Partners from DIFC to explain more about DIFC as an offshore jurisdiction, providing valuable insights and opportunities for clients considering offshore solutions. The collaboration with the Malaysia Business Council in UAE enables Bank Islam Trust to grow its expanding markets through networking and product innovation, especially in digital (IDAC).
Overall, the Masterclass event not only enhanced Bank Islam Trust’s network in the Middle East market but also positioned it as a key player in wealth management and legacy preservation, leveraging strategic partnerships and innovative solutions for business expansion.
