Led by Chew Phye Keat, the Islamic finance team at Raja, Darryl & Loh advises on various Shariah principles. The practice regularly advises Islamic banking clients on potential new products, in addition to assisting with regulatory and governance considerations. The firm has demonstrable experience in advising digital banks on their Islamic finance products, as well as handling compliance work. Syed Adam Alhabshi is a key member of the group.
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Work highlights
- Advised an Islamic financial institution in conducting a Shariah rectification exercise following the discovery of a Shariah non-compliant event in respect of its cash line facility.
- Advising two of the five new digital banks that have been awarded digital banking licenses, specifically the two banks that will offer Islamic finance products under the Islamic Financial Services Act 2013.
- Advising an Islamic financial institution that is structuring a new program which utilises the client's Zakat fund as a source of funds for a microfinancing product to qualified B40 beneficiaries who are pre-bankable.
Practice head
The lawyer(s) leading their teams.
Chew Phye Keat