Labuan's Financial Services Authority has introduced a computer-based examination for people who want to apply for permission to become trust officers.

Every examination takes place in the Labuan FSA's office in Labuan and every applicant is advised to refer to the schedule enclosed on the date of examination or based on the date as dictated by the regulator.

The processing fee for an application to become a trust officer is US$350 as pursuant to the Circular on Payment of Fees and Other Chargeable Activities in US$ Denomination, dated 1 November 2019.

A trust officer is a salaried employee of a trust company, bank or investment management firm that offers trust services. Trust officers administer and manage trust accounts and ensure that trust account administration is in compliance with the law. (Source: Sapling.com)