Could you provide a brief journey of how you arrived where you are today?
Upon graduation from university in 1992 and completion of my chambering nine months thereafter, I started practice as a corporate lawyer at Messrs Rashid & Lee in Kuala Lumpur. It was at Messrs Rashid & Lee where I was exposed to my first Islamic financing transaction. I then left the practice to start up the legal department of the Arab Malaysian Corporation, and the department grew from a one-man show to a staff of five people handling all the legal and corporate matters of the group and its subsidiaries.

In 1998, I joined Technip, a French oil and gas company where I was based in their headquarters in Paris, before being posted back to Kuala Lumpur when Technip decided to make Malaysia their Asia-Pacific regional headquarters. In 2000, I joined Messrs Zaid Ibrahim & Co as a partner, and in 2004 I was made the head of the firm’s Islamic Banking and Finance Division. In June last year, Messrs Mohamed Ridza & Co was incorporated.

What does your role involve?
As the managing partner of Messrs Mohamed Ridza & Co, my primary role is to ensure quality advice and efficiency are delivered to our clients, with the support of my two other partners and our team of lawyers and staff.

I also sit on the boards of several companies as an independent director, as part of my role to promote corporate governance in companies. In addition, I give talks to students and industry practitioners in Islamic finance and corporate governance-related matters.

What is your greatest achievement to date?
When I see that lawyers trained under my care have been able to grow on their own. In addition, when I managed to co-author a book on Islamic finance in 2003.

Which of your products/services deliver the best results?
I suppose that the products/services relating to Islamic finance, because there is a lot of innovation required and when these products and services are launched, the results speak for themselves.

Of course, the challenge being an Islamic finance lawyer is that one needs to ensure that not only are the products structured to fulfil Shariah requirements, but we also need to ensure that they are legally enforceable and meet the needs of the clients as well.

What are the strengths of your business?
The ability of my team to deliver solutions to clients to meet their business, financial and legal needs. I train my lawyers to understand the nature of a transaction before embarking on any advice to be given to our clients.

What are the factors contributing to the success of your company?
Most importantly, it is Allah who has blessed my firm and its people. Then my family, and the people which make up the firm – ranging from my partners, lawyers and staff.

What are the obstacles faced in running your business today?
The main obstacle is the ability to come up with Islamic financial products that are able to rival or even better conventional products. Another challenge is to change the mindset of the industry to start believing in products that contain elements of risk and equity.

Alhamdulillah, I find that the industry is beginning to embrace and believe in these concepts and products.

Where do you see the Islamic finance industry, maybe in the next five years?
Continuing to grow and most probably getting even bigger than conventional finance. I also see the industry coming up with products which are universally acceptable.

Name one thing you would like to see change in the world of Islamic finance?
Islamic finance should not be seen as just a product, but as a universal solution to all kinds of business needs, whether for Muslims or non-Muslims.

Also, Islamic finance should not just be seen as a means of making money, but as a way of contributing to the social contract for which each one of us is responsible towards the society at large.

Mohamed Ridza & Co advises on corporate and commercial law, construction law and Islamic banking and finance. Being trained in Shariah as well as common law, Mohamed Ridza has advised clients locally and internationally on Islamic banking documentation utilizing various Shariah concepts ranging from Islamic trade finance, Islamic corporate and retail banking and Takaful. Mohamed Ridza & Co can also advise clients on Islamic offshore financing, Islamic private debt securities and Islamic backed debt securities.