Client Feedback
What Our Clients Say
Perspectives from financial institutions, fintech operators, and lending businesses who have worked with Hikmah Law on regulatory and documentation matters.
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Engagements completed
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BNM licence categories advised
Client Reviews
Testimonials
Zulaikha Azman
Chief Compliance Officer, Kuala Lumpur
We engaged Hikmah Law to build our compliance framework from the ground up following our BNM licence approval. The team was methodical and clearly understood what BNM examiners actually look for — not just what the policy documents say. The compliance manual they produced was thorough and written in a way that our non-legal staff could actually use.
February 2025 — Compliance Programme
Rajan Nair
Finance Director, Petaling Jaya
The loan documentation review covered a syndicated facility with multiple security arrangements. The risk-flagging report was the most useful part — it identified three covenant provisions that we were able to negotiate before execution. Turnaround was just over two weeks. Worth every ringgit of the fee.
January 2025 — Loan Documentation Review
Lim Wei Xian
Founder, Fintech Startup, KL Sentral
We were entirely new to the Malaysian regulatory environment when we approached Hikmah Law. Rashidah's team explained the different licence pathways in a way that made the decision clear. The regulatory requirements matrix gave us something concrete to work from — rather than trying to piece together BNM's requirements from their website. Application is now in progress and on track.
December 2024 — Banking Licence Advisory
Hasnah Bakar
CEO, Microfinance Institution, Shah Alam
I have worked with several law firms on regulatory matters and the difference with Hikmah Law is that they explain the reasoning behind their advice, not just the conclusion. When our compliance programme was complete, I understood why each policy was structured the way it was — which meant I could explain it to our board without relying on the lawyers to be present.
January 2025 — Compliance Programme
Siti Mariam Osman
Legal Manager, Kuala Lumpur
We needed a documentation review on a term loan facility with Islamic finance elements. Shaun's review picked up an issue with the profit rate reset mechanism that our in-house team had missed. The annotated term sheet was clear enough that our CFO could follow it without a separate briefing. Fee was transparent and matched the engagement letter.
February 2025 — Loan Documentation Review
David Tan
Operations Director, Selangor
The AMLA section of the compliance programme was particularly well done — specific to our business model rather than generic. One minor point: the training materials could have been a bit shorter for frontline staff. That said, the quality of the underlying legal work was solid and our internal audit team gave the manual a positive assessment at the first review.
December 2024 — Compliance Programme
Client Journeys
Case Studies
Case Study 01 — Banking Licence Advisory
Fintech Startup Obtains Money Services Business Licence
Challenge
A payments technology startup had built its product on an assumption that a particular BNM exemption would cover its activities. Before launch, they needed to confirm whether the exemption applied or whether a full MSB licence was required — and how to proceed if it was.
Our Approach
Hikmah Law conducted a regulatory mapping exercise, confirmed that the exemption did not apply to the client's specific business model, and guided the team through the MSB licence application process — including fit-and-proper preparation for the founders.
Outcome
Licence obtained within four months of engagement commencement. The client launched its product with a compliant licence structure and a documented understanding of its ongoing BNM obligations. No post-launch regulatory correspondence from BNM.
Case Study 02 — Loan Documentation Review
Manufacturing Group Renegotiates Facility Covenant Package
Challenge
A mid-size manufacturing group was presented with a refinancing term sheet by a domestic bank. The group's CFO had concerns about the financial covenant levels but lacked a clear picture of how the proposed terms compared to market standards for similar facilities.
Our Approach
Hikmah Law reviewed the term sheet and draft facility agreement, produced an annotated comparison, and identified three financial covenant levels and two cross-default provisions that were tighter than market standard for the facility size and sector.
Outcome
The client used the risk-flagging report directly in negotiation discussions. All three financial covenant levels were adjusted. One cross-default clause was narrowed. The facility was executed on terms that the client's board approved without further external advice.
Case Study 03 — Regulatory Compliance Programme
Licensed Microfinance Institution Prepares for BNM Examination
Challenge
A licensed microfinance institution had compliance policies in place but these had not been formally reviewed or updated in several years. A scheduled BNM supervisory visit was six months away and the CEO needed confidence that documentation was current and complete.
Our Approach
Hikmah Law conducted a gap assessment against current BNM requirements, updated the existing compliance manual, redesigned the AMLA policy documentation, produced staff training materials, and delivered the monitoring dashboard template before the visit.
Outcome
The BNM supervisory visit concluded without any material findings on compliance documentation. The institution's board formally adopted the updated compliance manual at the next quarterly meeting. Staff training was completed within the programme timeline.
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