News
Phoenix Investment Bank (Labuan) Ltd. ("Phoenix" or the "Bank") has received in-principle approval from the Labuan Financial Services Authority for a Labuan investment banking licence and is completing the outstanding conditions required for full licence issuance.
Building a Labuan-Based Platform
Promoted by the Fintrade Group, Phoenix is being established as a Labuan-based investment banking platform with an intended focus on trade finance, correspondent banking, structured finance and institutional financial services. Upon final licence issuance, Phoenix intends to serve eligible corporate and institutional clients whose cross-border operations require disciplined documentation, correspondent banking connectivity and execution support.
Proposed Initial Services
Subject to final licence issuance, client eligibility and operational readiness, Phoenix's proposed initial services are expected to encompass letters of credit, standby letters of credit, bank guarantees, documentary collections, RMA development, SWIFT-integrated transaction support and trade finance structuring.
Fintrade Group Foundation
Phoenix draws on the Fintrade Group's trade finance experience, established banking relationships and financial services track record. Looking further ahead, Phoenix intends to expand gradually into financial advisory, custody, payments, card and merchant services, and secured financing, subject to regulatory approval, operational readiness and board-approved controls.
Phoenix is being built deliberately, with a focus on completing its licensing and operational requirements before formally commencing business.