The 6th annual World Islamic Banking Conference: Asia Summit was held in Singapore from 3-4 June 2015, supported by the Monetary Authority of Singapore.
During the summit, Nizam Ismail, Partner of RHTLaw Taylor Wessing and Director of RHT Compliance Solutions, participated as a speaker and panelist, and discussed the future potential for Islamic Finance in Singapore.
Nizam's presentation entitled “Risk Landscape for Islamic Finance: Governance, Legal and Risk Management Priorities to Sustain Growth” touched upon the following key points:
How the concept of Governance, Risk Management and Compliance (GRC) is congruent with Islamic principles
How the gaps in providing for regulations and supervision for GRC for Islamic Finance (IF) in non-Muslim majority jurisdictions may negatively affect the development of IF
The need for IF intermediaries and offerors to take a holistic view of compliance
During the panel discussion, Nizam advocated for regulatory reforms to promote growth, suggesting that Singapore consider entering into mutual recognition arrangements with Middle Eastern and Asian countries to facilitate cross-border offerings of IF investment products. He added that Singapore should also consider growing the retail investment space and addressing gaps in the current regulatory framework in order to further catalyse the growth of IF.
RHTLaw Taylor Wessing and RHT Compliance Solutions are proud to have participated in the 6th Annual World Islamic Banking Conference.
To learn more about the firm’s capabilities in Islamic Finance, please click here.
RHT Holdings is planning a listing on the Catalist board in the first half of 2016.
In an interview with The Straits Times, RHT Holdings CEO Jayaprakash Jagateesan spoke about the company’s plans to expand regionally and reiterated the broad range of services that is on offer. ASEAN Plus Group and the new city studio were also featured in the interview. Prakash touched on the importance of Corporate Social Responsibility in the DNA of the organisation and highlighted the amount raised at the inaugural RHT Rajan Menon Foundation Charity Golf event last Friday.
He commented, “Right now there are actually no competitors who can match the broad range of services we offer. We want to grow the business and take it regional. We have already started rolling out a plan for regional expansion.”
RHT Holdings consists of RHT Academy, RHT i-Assets, RHT Compliance Solutions, RHT Corporate Advisory, RHT Capital and RHT Management Services.
The full article can be read on the 28 May 2015 edition of The Straits Times.
RHTLaw Taylor Wessing LLP (“the Firm”), currently the eighth-largest law firm in Singapore, is pleased to celebrate its four-year anniversary tomorrow, 28 May 2015.
Founded in 2011, the Firm has rapidly grown to become the eighth-largest law firm in Singapore with 101 professionals.
Since inception, the Firm has built a formidable suite of practices, with expertise in criminal and civil litigation, banking and finance law, technology and intellectual property law, compliance and an emerging Islamic Finance practice, all with regional capabilities.
In addition to retaining a top position in Singapore, the Firm is actively expanding in key international markets, as part of its endeavour to become a local firm with international capabilities.
In 2012, the Firm joined the Taylor Wessing network, giving the Firm and its clients access to over 1,050 professionals in Europe, Middle East and North America.
Additionally, in 2014, to further strengthen the Firm’s presence in the ASEAN region, RHTLaw Taylor Wessing established the ASEAN+ Group, an association of leading law firms in eight jurisdictions across ASEAN. The Group now has over 750 professionals working in Indonesia, Malaysia, South Korea, the Philippines, Taiwan and Thailand.
To complement its strength in law, the RHT Group of Companies was formed to address clients’ needs for streamlined and integrated legal and professional services and now comprises 13 companies in total, with expertise in corporate advisory, regulatory and compliance, technology risk management, continuing sponsorship, media consultancy, business management services and other professional services.
To further strengthen the group’s professional service offerings, RHT Holdings plans to list on the Singapore Stock Exchange Catalist Board in Q1 2016 or earlier.
RHTLaw Taylor Wessing Managing Partner Mr. Tan Chong Huat said, “Today marks a momentous occasion for RHTLaw Taylor Wessing and the RHT Group of Companies. When we began this improbable journey four years ago, there was no guarantee of success. Now, as we celebrate our four-year anniversary in Singapore, we are eager to continue our journey forward to become the leading professional services group in Asia. With access to over 1,800 professionals in Asia and around the world, we have evolved into a home-grown law firm with global strength and access. For this reason, RHTLaw Taylor Wessing truly is the miracle firm. I wish to express my deepest gratitude to our dedicated and valued employees, who have all played a vital role in the RHT story. We look forward to what the future holds for our Firm, our employees and our clients.”
On 22 May 2015, RHTLaw Taylor Wessing and RHT Holdings hosted the inaugural RHT Rajan Menon Foundation Charity Golf at the Singapore Island Country Club.
The day saw more than 120 senior executives participating in the charity golf tournament, many of them C-Suite business leaders in Singapore. This was followed by dinner where they were kept highly entertained by a singing act, auctions, lucky draw and golf awards. Mr Han Fook Kwang, Chairman of SPMF and Ms Elaine Tan, CEO of WWFS were the Guest-of-Honours . It was heartening to see our corporate leaders come together to raise funds for our beneficiaries, The Straits Times School Pocket Money Fund (SPMF) and the World Wide Fund for Nature, Singapore (WWFS). A total of $114,500 was raised.
We would like to thank all our sponsors for their contributions and belief.
The charity golf tournament is one of many charitable endeavours that will be undertaken by the RHT Rajan Menon Foundation in conjunction with the SG50 celebrations.
The inaugural RHT Rajan Menon Foundation Charity Golf 2015 was mentioned in Saturday’s edition (23 May 2015) of The Straits Times.