LABUAN: The Labuan International Finance Faculty (FKAL) of Universiti Malaysia Sabah, Labuan International Campus (UMSKAL) signed a Letter of Intent (LoI) with Bank Islam today to extend financial assistance and advisory support to the asnaf community and aspiring entrepreneurs in this duty-free island.
According to BERNAMA News Agency, FKAL dean Assoc-Prof Geoffrey Tanakinjal announced that this collaboration marks the establishment of the i-TEKAD Entrepreneur Hub. This joint initiative between FKAL and Bank Islam is set to be launched in November 2024 at UMS Labuan International Campus.
The hub is expected to serve as a platform for the proposed Labuanpreneur Living Lab, a collaborative entrepreneurial initiative involving FKAL, government agencies, and non-governmental organisations (NGOs) on this island. This facility would centralise various programmes, including People’s Income Initiative-Eradication of Extreme Poor (IPR-BMT), entrepreneurship (asnafpreneur), agro-based practical learning (UniMADANI
), Service Learning Malaysia-University for Society (SULAM), UMS Tech Talent Hub, and the i-Tekad Entrepreneur Hub. It aims to provide a one-stop centre for entrepreneurial development under one roof at FKAL.
The initiative aligns with UMS vice-chancellor Prof Datuk Kasim Mansur’s vision of fostering innovative communities through the establishment of living labs across Sabah and Labuan. The Labuanpreneur Living Lab aims to be a resource hub for entrepreneurs seeking to expand their knowledge and grow their businesses.
The collaboration has also received backing from UMS deputy vice-chancellor for Industry and Community Networking, Prof Coswald Stephen Sipaut @ Mohd Nasri, and UMSKAL director Assoc. Prof Mohd Rizal Abd Hamid, further strengthening FKAL’s community and industry outreach efforts.