Bank Islam Trust Ltd. is a wholly owned subsidiary company of Bank Islam Malaysia Berhad

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LIST OF LABUAN BUSINESS ACTIVITIES

Listed activities under P.U. (A) 423-2021

No

Labuan entity carrying on a Labuan Trading Activity

Minimum number of full time employees (FTE) in Labuan

Minimum amount of annual operating expenditure (OPEX) in Labuan (RM)

1

Labuan insurer, Labuan reinsurer, Labuan takaful operator or Labuan retakaful operator

3

200,000

2

Labuan Underwriting Manager or Labuan Underwriting takaful manager

4

100,000

3

Labuan Insurance Manager or Labuan takaful manager

4

100,000

4

Labuan insurance broker or Labuan takaful broker

2

100,000

5

Labuan Captive insurer or Labuan captive takaful:-

(a) Labuan first party captive insurer or Labuan first party captive takaful; or

(b) Labuan third party captive or Labuan third party captive takaful

2

 

3

100,000


100,000

6

Labuan International Commodity Trading Company has not more than five related companies to carry on the qualifying activity

Have not less than three (3) FTE including at least two (2) of them are FTE in its business operational office in Labuan in a group of companies

Annual OPEX of at least RM 3,000,000 in Malaysia including at least RM100,000 there from is incurred in Labuan for each company

7

Labuan Bank, Labuan Investment Bank, Labuan Islamic Bank or Labuan Islamic Investment Bank

3

200,000

8

Labuan Trust Company

3

120,000

9

Labuan Leasing Company of Labuan Islamic Leasing Company:-

(a)not more than 10 related Labuan leasing companies or Labuan Islamic leasing companies

(b)11 to 20 related Labuan leasing companies or Labuan Islamic leasing companies

(c)21 to 30 related Labuan leasing companies or Labuan Islamic leasing companies

(d)more than 30 related Labuan leasing companies or Labuan Islamic leasing companies

Labuan Leasing Company of Labuan Islamic Leasing Company:-

2 for each group of companies

3 for each group of companies

4 for each group of companies

1 additional employee for each group of companies for each increase of 10 related Labuan leasing companies or Labuan Islamic leasing companies

100,000 for each Labuan leasing company or Labuan Islamic leasing company

10

Labuan Credit token company or Labuan Islamic credit token company

2

100,000

11

Labuan development finance company or Labuan Islamic development finance  company

2

100,000

12

Labuan building credit company or Labuan Islamic building credit company

2

100,000

13

Labuan factoring company or Labuan Islamic factoring company

2

100,000

14

Labuan money broker or Labuan Islamic money broker

2

100,000

15

Labuan fund manager

2

100,000

16

Labuan securities licensee or Labuan Islamic securities licensee

2

100,000

17

Labuan fund administrator

2

100,000

18

Labuan company management

2

100,000

19

Labuan International Financial Exchange

2

120,000

20

Self-regulatory organisation or Islamic self-regulation organisation

2

120,000

21

Labuan entity that carries on any one or more of the following business activity:

(a) administrative services;

(b) accounting services;

(c) legal services;

(d) backroom processing services;

(e) payroll services;

(f) Talent management services;

(g) agency services;

(h) insolvency related services;

(i) management services other than Labuan company management under item 17

2

50,000