Ibnu Sina, Ibnu Rushd and Al Jabir were among the many legendary thinkers who not only excelled in one specific area of study, but in multiple areas of knowledge such as philosophy, science and theology. The great thinkers of the past have indeed demonstrated exemplary intellectual qualities for us to emulate. The current highly competitive and demanding operating environment requires presentday Ibnu Sina, Ibnu Rushd and Al Jabir to formulate and develop solutions to the challenges faced by the ummah. Today, the definition of Shariah scholars is often understood in a narrow context where recognition is largely attributed to one’s proficiency in the field of Islamic theocracy. However, the nature and challenges faced by society today demand a broader context of scholarly endeavours that necessitate a new cadre of Islamic finance scholars. Such scholars, not only excel in their depth of Shariah knowledge and wisdom, but also possess knowledge in other related disciplines such as economics, finance and law. The combination of technical knowledge and Shariah wisdom, together with a strong understanding in other disciplines would produce great thinkers who are able to translate theoretical reasoning into practice. These thinkers could contribute to the society with their contemporary innovative solutions, starting from even small ideas that could potentially bring incremental changes with bigger positive impact over the long run. Great thinkers of yesteryears were known for the audacity to think beyond the sphere of conventional wisdom to shift into a new paradigm that molded civilisation into the next leap forward.

In providing the full range of financial services, Labuan offers a total financial solution both in both conventional and Islamic finance. Labuan also has the top-ranked financial institutions that originate from more than 80 countries, including Islamic financial institutions that also originate from different parts of the world. The Labuan Offshore Financial Centre has seen steady expansion both in terms of the number of players, the diverse financial product offering and the volume of activity. Labuan today has also become a thriving regional business centre. It is making its mark as a regional base for the oil and gas industry and as an entreport for the regional triangle of Brunei-Sabah-Philippines. Its convenient location and excellent deep harbour are natural advantages. Its modern airport which has been enhanced has also promoted increased tourism. Being a duty free zone and a free port status has supported these activities. Growth in these peripheral commercial and economic activity in Labuan has provided the potential for Labuan to succeed as an international business and financial centre. Labuan benefits from being centrally located in the Asia Pacific region, a region that has been one of the fastest growing regions in the world. The Asian region is also among the most open in the world in terms of international trade and investment. A more recent phenomenon is the increased intra-regional trade and investment resulting in greater regional economic integration. This has been reinforced further by increased investment flows from the Middle East to Asia.