Where is Labuan, Malaysia and what is Labuan IBFC?

The Federal Territory of Labuan is part of Malaysia, is the second federal territory in Malaysia, after Kuala Lumpur.
Labuan International Business Financial Centre (Labuan IBFC) is one of the most vibrant jurisdictions in the Asia Pacific, with its uniqueness as a 'mid shore' business hub. It offers flexibility for businesses to deal with international markets and a comprehensive legal framework that welcomes digital transformation and blockchain innovation. 
Labuan is economically strong and politically stable. Under the guidance of LFSA (the Labuan Financial Services Authority), the Malaysian authorities have invested heavily into improving Labuan's physical infrastructure, which is completely modernised and provides a state of the art telecommunications system.
As of now, more than 50 of the world's top banks have branches in Labuan. View more info here.