Three Core Practice Areas. One Focused Purpose.
Mestika Legal's service areas reflect the primary legal needs of Malaysian Islamic financial institutions — each designed to address a distinct phase or aspect of Islamic finance operations, from product inception to market issuance.
← Back to HomeHow We Approach Each Engagement
Every Mestika Legal engagement begins with a careful assessment of the client's objectives, regulatory context, and Syariah parameters. We do not apply standard templates to individual matters — each instruction receives a structured advisory process tailored to its specific requirements.
For product structuring mandates, this means working through the applicable Syariah contract principles before any documentation begins. For compliance engagements, it means reviewing the institution's existing governance framework against current BNM policy before making recommendations. For sukuk mandates, it means engaging early with all transaction parties to establish documentation timelines that are achievable.
Throughout each engagement, we maintain clear communication with the client — flagging issues early, explaining Syariah and regulatory considerations in accessible terms, and keeping the process moving without unnecessary delays.
Assess
Understand objectives, Syariah parameters, and regulatory context
Structure
Develop a Syariah-sound structure aligned with commercial objectives
Document
Prepare precise legal documentation with internal review
Complete
Execute to conclusion with all Syariah and regulatory approvals in place
Our Three Practice Areas
Syariah-Compliant Product Structuring
This service addresses the legal structuring needs of financial institutions and corporate entities creating new Islamic finance products or adapting existing product lines for Syariah compliance. We work through the applicable fiqh muamalat principles, interpret relevant Syariah Advisory Council guidelines, and produce documentation that reflects both Syariah soundness and commercial workability.
The service is particularly suited to banks developing new deposit or financing products, takaful operators structuring contribution arrangements, and corporate treasury teams considering Islamic funding alternatives. We collaborate closely with the client's internal Syariah team and, where required, with external Syariah scholars engaged for the purpose.
Scope Includes:
- Murabahah, Musharakah, Ijarah, and Sukuk structuring
- Syariah Advisory Council guideline interpretation
- Product documentation review for IFSA 2013 compliance
- Coordination with product development and Syariah teams
- Suitable for banks, takaful operators, and corporate issuers
Typical Process:
Initial Brief & Syariah Mapping
Understand commercial objectives and identify appropriate Syariah contract basis
Structure Development
Develop proposed structure with Syariah reasoning and regulatory alignment
Scholarly Review
Engage client's Syariah committee or external scholars to review the proposed structure
Documentation Preparation
Draft product agreements, terms, and supporting documentation
Islamic Banking Regulatory Compliance
BNM's Syariah Governance Policy Document sets out detailed obligations for licensed Islamic financial institutions — including requirements for Syariah committee composition, governance documentation, internal Syariah audit, and non-compliance event management. Mestika Legal assists institutions in meeting these obligations fully, whether establishing frameworks for the first time or remediating existing gaps.
For institutions with cross-border operations, we extend this advisory to alignment with international Islamic finance governance standards, helping to ensure that Syariah compliance frameworks are coherent across multiple regulatory environments.
Scope Includes:
- Syariah committee establishment and governance documentation
- Internal Syariah audit framework development
- Syariah non-compliance event management procedures
- BNM Syariah Governance PD gap analysis
- Remediation planning and implementation support
- Cross-border Syariah compliance coordination
Typical Process:
Gap Analysis
Review current governance framework against BNM Syariah Governance PD requirements
Findings Report
Prepare detailed report identifying gaps, risks, and remediation priorities
Framework Development
Draft or update governance documents, audit programmes, and event management procedures
Implementation Support
Support rollout of updated frameworks and advise on ongoing compliance
Sukuk Issuance & Islamic Capital Markets
Sukuk issuances involve multiple parties, complex documentation, regulatory approvals from the Securities Commission Malaysia, and Syariah endorsement from recognised scholars. Mestika Legal manages the legal documentation process from mandate through to issuance — working alongside arrangers, trustees, and rating agencies to keep the transaction on track.
We advise on programme structures across Wakalah, Mudarabah, and commodity Murabahah sukuk, and assist with secondary market trading considerations, early redemption mechanisms, and periodic Syariah compliance monitoring for outstanding programmes.
Scope Includes:
- Sukuk programme structuring (Wakalah, Mudarabah, commodity Murabahah)
- Trust deed and transaction document preparation
- Securities Commission Malaysia approval coordination
- Syariah endorsement procurement from recognised scholars
- Multi-party coordination with arrangers, trustees, and agencies
- Post-issuance compliance monitoring and support
Typical Process:
Mandate & Structure Agreement
Agree on sukuk type, structure, and transaction party roles
Documentation Preparation
Draft trust deed, subscription agreement, and all transaction documents
Regulatory & Syariah Approval
Coordinate SC Malaysia approval process and Syariah endorsement procurement
Issuance & Post-Issuance
Execute issuance documentation and establish post-issuance monitoring arrangements
Choosing the Right Service
This matrix helps identify which of our services is most relevant to your institution's current requirements.
| Feature / Requirement | Product Structuring | Regulatory Compliance | Sukuk Issuance |
|---|---|---|---|
| Starting Fee (RM) | 650 | 1,400 | 2,300 |
| Suitable For | Banks, takaful, corporates | Licensed IFIs | Corporate issuers, banks |
| Syariah scholarly engagement | |||
| BNM governance focus | Partial | Partial | |
| SC Malaysia coordination | – | – | |
| Post-engagement support | Optional | ||
| Cross-border advisory | On request | ||
| Typical engagement duration | 4–10 weeks | 6–16 weeks | 8–24 weeks |
Fees are indicative starting points. Final scope and fee are agreed at engagement outset.
Professional Standards Applied Across All Services
Professional Privilege
All client communications and documentation are protected under legal professional privilege. Client confidentiality is a fundamental obligation of every engagement.
IFSA 2013 Compliance
All structuring and compliance advice is provided with reference to the current state of the Islamic Financial Services Act 2013 and subsidiary instruments issued under it.
Document Accuracy Standards
Legal documents produced under any Mestika Legal engagement undergo internal review before delivery. Transaction documents are checked against current regulatory requirements and precedent materials.
Conflict of Interest Management
We conduct conflict checks at the outset of each engagement and maintain procedures for identifying and managing conflicts in accordance with Malaysian Bar requirements.
Regulatory Currency
We maintain current awareness of BNM, Securities Commission, and AAOIFI developments and update our advisory accordingly — including alerting retainer clients to material regulatory changes.
Senior Adviser Accountability
Each client matter is overseen by a named senior adviser. Clients know who is responsible for their instruction and have direct access throughout the engagement.
Ready to Discuss Your Islamic Finance Matter?
Contact us to describe your requirement and we will outline the most appropriate service scope and engagement structure for your situation.
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