Sat, 20 Jul 2024


Labuan IBFC, CCB to push cross-border transactions
Published on: Friday, July 01, 2022
By: Bernama
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Labuan IBFC, CCB to push cross-border transactions
Credit: China Construction Bank (CCB) / Bernama
Kuala Lumpur: The Labuan International Business and Financial Centre Incorporated Sdn Bhd (Labuan IBFC) has signed up for the China Construction Bank (CCB) Match Plus platform with the aim to promote cross-border transactions, including financial services, and boost economic integration between Regional Comprehensive Economic Partnership (RCEP) member countries.

Labuan Financial Services Authority (Labuan FSA) director-general Nik Mohamed Din Nik Musa Said the matchmaking platform bodes well with Labuan IBFC’s aspiration to broaden its products and services to investors, business corporations and individuals in the region, including the China market.

“Currently, there are 183 companies and licensed institutions originating from China. We hope that this matchmaking platform will pave the way for more cross-border presence,” he said at the “Into Labuan IBFC”-Labuan Investment Cooperation Forum 2022 here Thursday. He said the CCB Match Plus would establish a strategic foothold in the region by optimising business opportunities through its diverse range of products and services. “This platform will be able to provide customers with a competitive edge through its intelligent and comprehensive cross-border ecosystem with domestic and overseas layout, online and offline integration and financial and non-financial connectivity,” he said.

Simultaneously, he said it would entice additional market participants from all parts of the world to use CCB Match Plus as a platform for business match-making purposes.

“Labuan IBFC will be the first ever jurisdiction to sign up for this platform and with its participation, we will have the access to about 200,000 verified business entities from all around the world, originating from 48 countries,” he said.

Meanwhile, Minister Counsellor of Economic and Commercial Office at the Embassy of China in Malaysia Zhang Peidong said the high-level free trade environment created by RCEP would deepen the integration of the trade supply chain of China-Malaysia, stimulate the development of regional digital trade and improve the overall business environment.

“We will further expand cooperation in electronics and electrical appliances, automobile manufacturing, chemical smelting, railways and ports and tap the emerging fields in digital economy, green development, e-commerce and cyber-security to push further the comprehensive strategic partnership between both countries,” she added.

CCB Match Plus is a one-stop matchmaking service platform which allows enterprises to source for financial resources, projects, suppliers and a list of products and services internationally. 

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