The latest compliance news: regulatory developments, punishments, guidance, permissions and new product and service offerings.

Labuan, CCBC
The Asian offshore financial jurisdiction, Labuan, has signed a pact with China Construction Bank Corporation to promote the centre’s offerings to Chinese businesses.

A memorandum of understanding was signed between Labuan International Business and Financial Centre, and China Construction Bank Corp.

CCBL is one of the 55 banks in Labuan’s financial centre; the bank also recently won approval from Labuan Financial Services Authority to conduct digital banking activities, the first bank in Malaysia to secure this status.