It is a little hard to get to the bottom of this.. but then again it is Malaysia..
A post on Malaysian blog Legal Cat-Astrophe has revealed that last week a UK delegation consisting of the Lord Mayor of London, the British High Commissioner, a representative from the UK Law Society and a few lawyers from British firms based in Singapore met with a delegation from the Malaysian government to discuss allowing UK firms to practice Islamic finance in the country.
In usual Malaysian fashion the meeting ended up in swings and roundabouts, as it appears the Malaysian government and Bar Council are yet to agree on if and how overseas law firms will be given permission to practice Islamic Law in the country.
Legal Cat-Astrophe writes:
The government did warned that if there will be no agreement between Bar Council and the government especially when the government wants to push Malaysia as one of the hub for Islamic finance, they might just amend the law to allow for that five firm to practice. In short, take it or loose out. That was how the meetings that we had with the government ended that few times we met them. That was also how our meeting with the British delegation that day ended too.
We did huffed and puffed. And asked them to agree to our proposal of a joint-venture model which will gradually be turned into a full equity owned foreign business venture by 2015 but they did say to us that what if our government itself imposed on us through an Act of Parliament that we allow them to practice here in Malaysia. Wouldn’t we then have to accept it? We agree but we did ask them to not turn their back on us as Bar Council will still be the one which will have to administer their movements in Malaysia.
So, ready or not, Malaysia may have 5 foreign lawyers practising here which may (or may not) be confined to Islamic finance. Yes, there are some form of control like a licensing board consisting of Bar Council and Attorney General office which will oversee the license given and Bar Council still being the body which will oversee these law firms conduct. And yes, they are only allowing law firms and not lawyers to practice here
See the full post at http://kruel-legalcat.blogspot.com/2009/07/liberalisation-of-legal-profession-not.html
So.. we’d suggest the Brits are going to have the same problems as they are having in India. The Govt and the Law Council will bicker endlessly and finally a very watered down proposal will be offered in 18 months. By which time UK firms will have set up Islamic Law desks in Singapore.
And we spotted this little piece in the Islington Tribune that illustrates London’s Mayor, Boris Johnson’s support for Islamic Law !
They write:
‘Sharia law for bike thieves,’ says MP Boris
BORIS Johnson has called for “Sharia law for bicycle thieves”.
Fed up with having his bike stolen, the outspoken Tory MP, of Furlong Road, Holloway, wants to get tough on the thieves.
He made the comments at the annual meeting of the Islington Cyclists’ Action Group at the Town Hall on Wednesday night.
Mr Johnson arrived on his bike fresh from the Commons vote on the Trident missile system, proclaiming, fist aloft, “Cyclists for the bomb!”
He lamented the recent theft of his bike from the racks at Euston station.
