Tuesday, 5th February, 2002
Labuan Has Potential For Other Investments
By Sohan Das

Labuan: Some 200 delegates attending the high-profile two day "1st International Conference On Islamic Banking, Finance and Insurance". Were told that the island not only offered attractive incentives and perks in the offshore business sector but is also good for other forms of investment and trade.

Speaking at the closing of the conference which had experts in Islamic banking speaking on various issues and challenges ahead, Suhaili said "serene and scenic" Labuan was an ideal haven for those seeking a quiet life in a developed and modern environment.

He expressed hope that the delegates from various countries would also look at the island's other potential and use it as a "springboard" into other business venture in the region.

The conference was jointly organised by the Labuan Offshore Financial Services Authority (LOFSA), Universidti Malaysia Sabah (UMS) and Universiti Utara Malaysia (UUM).

It was originally scheduled to be held from October 31 to November 2001 but due to the 911 incident affecting flight scheduling it was held end of January. The Conference being the first held on such a scale drew international scholars from various universities including Australia, UK, Canada, Saudi Arabia and USA.

Director General of Lofsa Noorazman A Aziz presented a memo in the form of a framed verse to Suhaili during the occasion witnessed by UMS Vice Chancellor Prof Datuk Dr Abu Hassan Othman and Professor Dr Sudin Haron from UUM.