Join a Leading Network
Shaping Labuan’s Financial Future

New members can join LIBA once they meet the eligibility criteria and receive approval from a majority of the Council Members at a convened meeting.

Once approved, new members just need to pay a one-time admission fee and the subscription fee to gain full membership. As a LIBA member, you’ll enjoy all the exclusive privileges and benefits that come with being part of our esteemed association.

Join a distinguished network of investment banks shaping the future of Labuan as a leading International Business and Financial Centre.

Members of LIBA can be represented in all association matters by approved nominees. These nominees must be approved by the Council and registered with the Secretary. Nominations should be submitted using the prescribed form found in the First Schedule.

LIBA’s Secretary maintains a Register of Members’ key information which includes:

• Name and address (both registered and correspondence) of each Member.
• Date of membership entry and exit.
• Names and addresses of nominees.
• Additional particulars as decided by the Council.

Members can inspect the Register during normal business hours.

Notices to members, as required by the Constitution, are considered duly served when sent by post to the address in the Register or via facsimile or email, as deemed appropriate by the Council.

• Resignation: Members wishing to resign must provide one month’s written notice to the Secretary.
• Loss of Licence: Members who lose their Investment Bank License to operate in Labuan under the relevant Financial Services Acts will automatically lose their LIBA membership.

• Non-Compliance: Members not complying with the LIBA Constitution or acting disruptively may face expulsion or suspension. The Member will be notified in writing and given a chance to explain before the Council enforces the decision. An appeal can be made at a general meeting.
• Non-Payment: Members who fail to pay their Annual Subscription Fee or penalties within a month of the written demand may be suspended or expelled.
• Liquidation: Members entering liquidation (except for reconstruction purposes) may be expelled.

• Council Decision: Expulsion requires a two-thirds majority vote from Members at a general meeting.
• Forfeiture: Resigned, ceased, or expelled Members forfeit any remaining Annual Subscription and relinquish all rights to LIBA’s funds and property.
• Claims: Expulsion does not affect any claims LIBA has against the Member for damages or losses.

• Register Update: The names of resigned, ceased, or expelled Members will be removed from the Register.
• Authority Notification: The Council may inform the Labuan Financial Services Authority about any expelled or suspended Members.

Former members can rejoin LIBA through a simple process:

1. Application: Submit a reinstatement application. Approval requires a simple majority vote from the Council at a duly convened meeting.
2. Fees: Pay a Reinstatement Fee of RM1,000 along with any unpaid subscriptions up to the date of reinstatement.

Rejoin LIBA and once again enjoy the full benefits and opportunities of being part of our prestigious association!

• Funding Sources: LIBA’s funds are mainly derived from Admission and Annual Subscription Fees, and other payments as determined by a two-thirds majority vote at a general meeting.
• Admission Fee: New members pay an Admission Fee of RM1,000 upon approval.
• Annual Subscription Fee: Each member pays an Annual Subscription Fee of RM2,500, due by January 31 each year. The first Annual Subscription Fee is paid together with the Admission Fee, covering the calendar year of membership approval.

• Adjustments: Admission and Annual Subscription Fees can be revised by a secret ballot resolution passed at a general meeting.

• Admission Fee Payment: Must be paid within seven working days after membership approval.
• Annual Subscription Payment: Due by January 31 each year. Late payments incur a penalty of RM200 per month or an amount set by the Council.
• Default Action: Members who fail to pay their Annual Subscription Fee will receive a written notice. If unpaid within a month, the Council may announce the member as in default and take further action, including suspension or expulsion as per Rule 5.4.

Dive into the complete Constitution of our Society by clicking the link below:

LIBA Constitution