Labuan IBFC Incorporated Sdn Bhd has appointed Ben Quah as chief executive officer, positioning the organization to expand its presence as an international business and financial center.
Quah brings more than 20 years of experience in fintech, digital marketing, and regional business development. He has worked in Malaysia, China, Hong Kong, and Singapore across established financial institutions and technology ventures.
Throughout his career, Quah has launched multi-jurisdictional platforms, developed growth programs and built partnerships with regulators, financial institutions, and technology providers, the company noted. His background includes market expansion, ecosystem development, and cross-border business development.
As CEO, Quah is expected to focus on strengthening Labuan IBFC’s engagement with regulatory and industry stakeholders while deepening collaboration across key markets. The company said Quah will work to position the jurisdiction within evolving global standards.
Growth initiatives under his leadership will target wealth management, captive insurance, fintech, and Islamic finance sectors. These areas are considered as emerging opportunities in the region.
“Collaboration is fundamental to Labuan IBFC’s future,” Quah said. “By aligning closely with partners in our key markets, we can further enhance our role as Asia’s leading cross-border financial hub. I am committed to cultivating the relationships that will unlock long-term, sustainable growth for the region.”
Since taking the position, Quah has engaged with partners across the region. His leadership approach centers on what he calls “inside-out living,” emphasizing clarity of purpose, authenticity, and values-driven decision-making in ecosystem building and growth.
The appointment of Quah comes at a moment of renewed momentum for Labuan IBFC. In its 2024 market report released in April, the Labuan Financial Services Authority (Labuan FSA) highlighted a 9% increase in new company incorporations and robust growth across key sectors including captive insurance, fund management, and leasing.
In particular, the centre’s digital and Shariah-compliant finance arm — via the Islamic Digital Asset Centre (IDAC) — saw a dramatic surge: issuance of Shariah-compliant securities tokens under the RAMZ platform expanded some 21-fold, surpassing the US$1 billion mark.
