KUALA LUMPUR, March 31 — Three bills under the Ministry of Finance which seek, among others, to modernise and update the legal aspects of the Labuan International Business and Financial Centre were passed in the Dewan Negara today
Meanwhile, the Labuan Islamic Financial Services and Securities Bill 2022 to amend the Labuan Islamic Financial Services and Securities Act 2010 was also debated and passed. “Based on the risk assessment made on Malaysia including Labuan IBFC under the Financial Action Task Force in 2014, the FATF has proposed several measures to be taken to prevent and combat money laundering and terrorist financing activities.
He said amendments to Act 441 were also made so that Labuan IBFC could comply with international tax standards to address the problem of tax revenue leakage and earnings transfer.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bank Negara: Headline inflation to average between 2.2-3.2pc this year | Malay MailKUALA LUMPUR, March 30 — Malaysia’s headline inflation is forecast to remain manageable this year, averaging between 2.2 per cent and 3.2 per cent (2021:2.5 per cent) while fuel inflation, which underpinned the higher headline inflation in 2021, is projected to moderate in 2022, Bank Negara...
Source: malaymail - 🏆 1. / 86 Read more »
Biden to make lynching a US hate crime with signing of Emmett Till bill | Malay MailWASHINGTON, March 29 — President Joe Biden today will sign into law the first federal legislation that would make lynching a federal hate crime after the US Senate passed the bill by unanimous consent this month. The legislation is named for 14-year-old Emmett Till, who was brutally murdered in a...
Source: malaymail - 🏆 1. / 86 Read more »
Finance Ministry approved Felcra’s RM150m unit trust investment after proposal submitted by Bung Moktar, witness tells court | Malay MailKUALA LUMPUR, March 29 — The Sessions Court was today told that the Finance Ministry agreed to approve the RM150 million investment by the Federal Land Consolidation and Rehabilitation Authority (Felcra ) in Public Mutual Berhad unit trust after three investment proposal papers were submitted by...
Source: malaymail - 🏆 1. / 86 Read more »
Ringgit rebounds to close higher against US dollar | Malay MailKUALA LUMPUR, March 29 — The ringgit rebounded from yesterday’s losses to end slightly higher against the US dollar today as some investors returned to emerging currencies, including the ringgit, amid a bearish economic outlook, a dealer said. At 6pm, the local currency strengthened to...
Source: malaymail - 🏆 1. / 86 Read more »
Emirates will continue flying to Russia until told not to by owners, says president | Malay MailDUBAI, March 29 — Dubai state-carrier Emirates will continue to fly to Russia until its owners tell it not to, President Tim Clark said today. The United Arab Emirates has refused to take sides between Western allies and Russia and has not matched global sanctions imposed on Moscow over its...
Source: malaymail - 🏆 1. / 86 Read more »
Men’s doubles coach Flandy bids farewell to BAM | Malay MailKUALA LUMPUR, March 28 ― Another coach is leaving the Badminton Association of Malaysia (BAM) coaching set up, as men’s doubles coach Flandy Limpele decided not to extend his contract beyond April 1. BAM in a statement said, efforts were made to offer new terms, but the 48-year-old Indonesian...
Source: malaymail - 🏆 1. / 86 Read more »