With the support of the Monetary Authority of Singapore (MAS), the 5th Annual World Islamic Banking Conference: Asia Summit (WIBC Asia 2014) was held in Singapore on the 2nd, 3rd and 4th of June 2014.
Nizam Ismail, Partner, RHTLaw Taylor Wessing took part as the only private sector representative in a Panel discussing the evolving regulatory and legal landscape for Islamic Finance: Global Developments and Regional and Domestic Implications.
During the panel discussion, Nizam suggested the need for Mutual Recognition Arrangements between Singapore and the Middle East, to facilitate more cross-border transactions, especially for products like Shariah-compliant funds, Islamic REITS and Business Trusts. While this is a long-term and complex process, regulatory efforts should commence now.
Nizam compared the varying regulatory approaches taken by Singapore and Malaysia to facilitate Islamic Finance to suit the needs for their respective jurisdictions. Nizam pointed out the need for banks and financial institutions to pay more focus on developing robust Islamic Finance Compliance Frameworks to meet increasing regulatory expectations and cautioned that the risk of non-Shariah compliance not only brings reputational risks, but also legal and statutory criminal risks (for instance, in Malaysia).
RHTLaw Taylor Wessing is a proud sponsor of the 5th Annual World Islamic Banking Conference.
RHTLaw Taylor Wessing’s Head of Litigation and Dispute Resolution, Mr Subhas Anandan is set to appear for a high-stakes court case tomorrow after being out of action for six months.
In a Straits Times interview yesterday, Mr Subhas added that the medical leave gave him the perfect opportunity to start on his second book.
The partners, management and staff at RHTLaw Taylor Wessing are delighted to welcome Mr Subhas back to the office.
Singapore, 23 May 2014 - RHTLaw Taylor Wessing LLP, a leading law firm in Singapore today announced the joint venture with DR & AJU International Law Group, a top Korean law firm into its ASEAN+ group.
DR & AJU is a full-service firm established in 1994 with 120 lawyers including 18 partners. It has been a pioneer among its Korean rivals in overseas expansion.
This arrangement with RHTLaw Taylor Wessing LLP will see DR & AJU become an associate firm of Taylor Wessing, a group which comprises a number of member firms which are separate legal entities and separately registered law practices in particular jurisdictions.
This development comes after RHTLaw Taylor Wessing announced its cooperation agreement with Indonesian law firm, Hanafiah Ponggawa and Partners and a joint venture with PBC PARTNERS & RHTLaw in Vietnam.
This new addition is in line with RHTLaw Taylor Wessing’s strategy to grow its “ASEAN+” legal practice throughout Asia. “ASEAN+” takes advantage of Singapore’s position as a gateway to Asia and will create opportunities in 3 main areas:
• Promote the entry of European businesses into ASEAN+ and beyond.
• Promote the entry of Asian businesses into Europe.
• Facilitate cross-border business between the ASEAN+ jurisdictions.
Rajan Menon, Senior Partner, RHTLaw Taylor Wessing commented, “We are absolutely delighted with this development. DR & AJU is a leading Korean law firm with whom we have a good and long standing relationship. The Korean Firm has an excellent track record of providing high-level services to Korean and foreign clients engaged in business in Korea. Korea is an economic heavyweight and is virtually located beside ASEAN. Given its proximity and economic performance, ASEAN and Korea are becoming increasingly engaged as we move towards a more cooperative and integrated community. Our joint venture with DR & AJU in Korea provides a natural extension to our aim of providing our clients access to jurisdictions where they are increasingly active. We will continue to work hard to bring the best in Asia together into our family.”
JinHan Kim, Founding Partner, DR & AJU added: “We have built a stellar reputation in Korea over the years and we have worked with top law firms from all over the world. RHTLaw Taylor Wessing’s deep understanding of the region and their expertise as a full-services international firm is a powerful combination and one that we feel offers something unique to our clients. Our joint venture is a sign of our confidence in ASEAN, a region we consider to be increasingly important. There are many synergies between our firms and we have no doubt that this partnership will give us a unique footprint in the region. We are confident that this will create considerable opportunities for our clients.”
With the addition of DR & AJU, RHTLaw Taylor Wessing offers clients access to more than 1050 legal professionals across 24 offices in Asia, the Middle East and Europe.
RHTLaw Taylor Wessing LLP is pleased to announce that it has been nominated as a finalist in 6 categories by Asian Legal Business South East (ALB SE) Asia Law Awards 2014.
The nominated categories are:
Commercial Litigation Law firm of the year
CSR Law firm of the year
Energy & Resources Law firm of the year
IP Law firm of the year
Real Estate Law firm of the year
SE Asia Managing Partner of the year
You may view the complete list here: http://www.legalbusinessonline.com/se-asia-law-awards-2014
The ALB SE Asia Law Awards 2014 recognises outstanding achievements of those in South East Asia’s legal industry and is one of the most prestigious events in the legal calendar. It is attended by the region’s most influential solicitors, in-house counsel, investment bankers, CEOs and members of the judiciary.