Labuan IBFC Inc signs MoU with Indonesia’s CRISU on internship programmes

LABUAN: Labuan IBFC Incorporated Sdn Bhd (Labuan IBFC Inc), the marketing arm for the Labuan International Business and Financial Centre (Labuan IBFC), has inked a memorandum of understanding (MoU) with the Council of Rector of Indonesia State University (CRISU) to facilitate internship programmes for Indonesian university students.

The non-binding MoU was signed by Labuan IBFC Inc executive chairman Datuk Iskandar Mohd Nuli and CRISU vice secretary-general Professor Herman Fithra, who represented CRISU chair Professor Ganefri.

Iskandar said the MoU reflected a commitment to strengthen bilateral ties with the shared objective of expanding the talent pool and introducing fresh perspectives, innovative ideas, and research experiences into the Labuan industry.

He emphasised that this initiative aligned with the Labuan IBFC 2022-2026 Strategic Roadmap, focusing on promoting market facilitation and visibility.

“This strategic partnership will enrich the industry talent bank for recruitment by Labuan businesses, enabling them to tap into local knowledge and insights about the Indonesian market, thus fostering further market development activities,” Iskandar said at the MoU signing ceremony at Tiara Hotel on Wednesday.

Iskandar emphasised the significance of collaboration between Malaysia’s international business and financial centre and Indonesian universities in promoting a better understanding of Labuan IBFC’s solutions and offerings and facilitating the dissemination of accurate information.

He noted that Labuan IBFC could serve as a platform for Indonesian universities to introduce cutting-edge financial solutions, thereby promoting the growth of Islamic finance, fintech, and wealth management sectors.

In his speech read by Herman Fithra, CRISU chair Ganefri expressed optimism about the alliance, highlighting its potential to expose students to Labuan IBFC businesses and enhance their understanding of the link between domestic and offshore enterprises.

He said that students would benefit from experiencing the work culture in global firms, which could open up future employment opportunities.

The partnership between Labuan IBFC Inc and CRISU is expected to pave the way for mutual recognition and market access, in line with the aspirations of the Brunei Darussalam– Indonesia–Malaysia–Philippines East Asean Growth Area (BIMP EAGA) economic corridor.