Malaysia to open doors to foreign law firms

March 5, 2013 Malaysia is set to enact new laws to open its marketplace to foreign law firms, following similar moves by Singapore and South Korea.

The legislation will allow international firms to establish alliances with local law firms, to recruit foreign lawyers and to set up stand-alone offices.

The Malaysian Bar Counsel will require that any foreign law firms applying for a three-year license to practice in the jurisdiction must have international Islamic finance ability.

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