In a move to promote Malaysia as a hub for Islamic finance work, the Malaysian Bar Council is proposing to liberalize its rules and allow foreign law firms into the country through joint ventures. Eversheds is currently the only U.K. law firm with a presence in the country, but City firms including Freshfields Bruckhaus Deringer, DLA Piper, Lovells, Herbert Smith and Norton Rose are keeping a close eye on the process and have not ruled out entering the country through a joint venture in the longer term.
August 04, 2008 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Malaysia is a step closer to allowing foreign law firms into the country with the London Bar Council proposing to liberalize its rules and allow joint ventures.
The government is said to be keen on overhauling its existing system as it bids to promote Malaysia as a hub for Islamic finance work.
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