Regulatory Framework of Islamic Finance: Current Trends and Issues

Guest Speaker:
Datuk Seri Dr Nik Norzrul Thani (Executive Chairman, ZICO Law)
Host:
Dr Mohd-Pisal Zainal (Henley Business School Malaysia, University of Reading Malaysia)
Subject Area:
All
Activity:
Distinguished Lecture
Date & Time:
Wed, 31. October 2018, 12:00 h - 13:30 h
Venue:
N3.24, University of Reading Malaysia - EduCity@Iskandar​

Abstract:
Islamic banking and finance has emerged among the fastest growing segments in the international financial system today. From an infant industry decades ago striving to prove its viability and competitiveness, it has now metamorphosed from a “niche financial industry” to an integral element of the international financial architecture.

The lecture encompasses a study of the regulatory system in Malaysia as it applies to Islamic financial institutions. More specifically, the lecture will examine the important regulations individually with respect to each category of these institutions, their development over the years, the reasons underlying their introduction, implementation and change, their relevance and appropriateness and, their effectiveness. The lecture will also focus on the key success factors in the implementation of Islamic finance in Malaysia, and its future trends and paradigms.

Photo Biography

Datuk Seri Dr Nik Norzrul Thani is Chairman and Senior Partner of ZICO Law, the largest law firm in Malaysia and a member of ZICO Law network with offices in Bangkok, Brunei, Hanoi, Ho Chi Minh City, Vientiane, Melbourne, Phnom Penh, Singapore, Manila and Yangon as well as an associate office in Jakarta. Prior to joining ZICO Law, he was practising with the international law firm, Baker & McKenzie.

Datuk Seri Dr Nik is also the Chairman of T7 Global Berhad (formerly known as Tanjung Offshore Berhad) and Chin Hin Group Berhad. In January 2017, he was appointed by the Ministry of International Trade & Industry as the Chairman of Malaysia-Singapore Business Council (MSBC). Datuk Seri Dr Nik is also Chairman of the Capital Market Compensation Fund Corporation (a corporation set up by the Securities Commission of Malaysia) and is a director of several public companies including Amanah Saham Nasional Berhad (ASNB). He has recently been appointed by the Minister of Finance to be the Chairman of Pengurusan Aset Air Berhad (PAAB) (a wholly owned company under the Ministry of Finance Incorporated).

Datuk Seri Dr Nik graduated with LL.B (Hons) from University of Buckingham, LL.M from Queen Mary College, University of London and Ph.D in Law from the School of Oriental and African Studies (SOAS), University of London and is a Barrister at Law, Lincoln’s Inn. In addition, he also possesses a Post-Graduate Diploma in Syariah Law and Practice (with distinction) from the International Islamic University Malaysia and is a member of Chartered Institute of Marketing (United Kingdom). He is also a Fellow of the Financial Services Institute of Australasia (FINSIA) and has also been admitted as a Practising Member of the Chartered Institute of Islamic Finance Professionals (CIIF). Datuk Seri Dr Nik was a Visiting Fulbright Scholar, Harvard Law School (1996-1997), Chevening Visiting Fellow at the Oxford Centre of Islamic Studies, Oxford University (2004-2005), and is presently a Visiting Senior Fellow of Melbourne Law School, University of Melbourne, Australia. Datuk Seri Dr Nik is also a registered Notary Public.

Datuk Seri Dr Nik was formerly the Chairman and Director of Al Rajhi Banking & Investment Corporation (Malaysia) Berhad. He was formerly the Chairman and Director of Perodua Sales Sdn Bhd and Perodua Otomobil Kedua Sdn Bhd. Datuk Seri Dr Nik has also previously served on the boards of Manulife Holdings Berhad and Manulife Insurance Berhad, UMW Holdings Berhad (including Chairman of UMW Manufacturing & Engineering), Fraser & Neave Holdings Berhad, MSIG Insurance (Malaysia) Bhd and Ranhill Holdings Berhad.

Datuk Seri Dr Nik was formerly the Deputy Dean of the Faculty of Laws, International Islamic University Malaysia and in 2009-2010 was the Legal Consultant for State General Reserve Fund (SGRF), the sovereign wealth fund of Sultanate of Oman. He was formerly a Director of Tabung Haji (Malaysian Pilgrimage Board) from 2004-2008 and was appointed by His Majesty Yang Di Pertuan Agong of Malaysia as a Member of the Islamic Religious Council of the Federal Territories of Malaysia (MAIWP) from 2006-2008.

Datuk Seri Dr Nik is the author of “Legal Aspects of The Malaysian Financial System”, “The Law and Practice of Islamic Banking & Finance” and “An Introduction to Islamic and Conventional Corporate Finance” (published by Sweet & Maxwell Asia).

Datuk Seri Dr Nik is proficient in English and Malay, and speaks Arabic, Mandarin, French and Japanese fairly. He is married to a fashion designer, Datin Seri Melor Wati Bt Darus.

  • Admission is free.​
  • UoRM staff RSVP by responding to the internal event invitation.
  • All are welcome, RSVP by 24 October 2018.

 

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