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To match Special Report IRAN / HAVENS
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To match Special Report IRAN / HAVENS
A resident sits at the end of the jetty at a water village on Malaysias island of Labuan February 7, 2012. The Naftiran Intertrade Company (NICO), an oil-trading firm owned by the Iranian government, dissolved its base on the British tax haven of Jersey on Jan. 8 with a " certificate of continuance" that indicated it would move to Labuan, an island off the coast of Malaysia. Picture taken February 7, 2012. To match Special Report IRAN/HAVENS REUTERS/Bazuki Muhammad (MALAYSIA - Tags: SOCIETY BUSINESS) - GM1E82G1I3901
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EDITORS COMMENTS
In this photo print, a resident is seen sitting at the end of a jetty in a water village on Malaysia's island of Labuan. The image, captured by Bazuki Muhammad on February 7,2012, tells an intriguing story that connects to the special report on Iran and tax havens. The Naftiran Intertrade Company (NICO), an oil-trading firm owned by the Iranian government, made headlines when it dissolved its base on the British tax haven of Jersey. With a "certificate of continuance" indicating its move to Labuan, an island off Malaysia's coast became NICO's new home. This photograph serves as a visual representation of this significant event. The peacefulness exuded by the resident sitting at the edge of the jetty contrasts with the underlying complexity surrounding international finance and politics depicted in this picture. Labuan Island itself adds another layer to this narrative. Known for its offshore financial center status and attractive tax benefits, it has become increasingly popular among businesses seeking favorable conditions for their operations. Through this thought-provoking image, Bazuki Muhammad captures both serenity and intrigue simultaneously—a reminder that even seemingly tranquil places can harbor intricate stories behind them.
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