The Labuan International Business and Financial Centre (IBFC) was launched on 28 January 2008, signifying a new focus for Malaysia's financial centre. The launching of the IBFC comes after the Labuan Offshore Financial Services Authority (LOFSA) announced that it had embarked on a repositioning and rebranding exercise in early 2007 to constantly benchmark and re-evaluate itself with other financial offshore centres around the world. The Labuan International Offshore Financial Centre (IOFC) was first established in 1990 with the vision of becoming a premier business and financial centre in the region. According to LOFSA, the new name of IBFC signals that...