Muhammad bin Ibrahim: Labuan IBFC - past, present and future
By Bank for International Settlements (BIS)
In this 2016 address, Governor Muhammad bin Ibrahim challenges the Labuan financial community to confront the "harsh truths" of a changing global environment. Historically, international financial centres (IFCs) thrived on tax planning and secrecy; however, the rise of global standards like BEPS and FATCA has rendered those old differentiators obsolete.
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