You have worked with the likes of Datuk Dr Rifaat Abdul Karim (when you both were at IFSB) and with Datuk Dr Nik Norzrul Thani at ZICOlaw; and you have had some highly-accomplished friends like Senator Dato’ Dr Asyraf Wajdi Dusuki (not to say that you are not one of them!), can you share with us who has really inspired you professionally.
Besides Datuk Dr Rifaat and Datuk Dr Nik Norzrul Thani (both of whom I consider as mentors who really contributed to my professional development as practitioner in the Islamic financial services industry), I really look up to Datuk Zaid Ibrahim who was the founding partner of Zaid Ibrahim & Co. and Mr Chew Seng Kok, Senior Partner of the firm who currently chairs the ZICOlaw Network – as these gentlemen taught me that the sheer power of vision, leadership and perseverance are enough to bring about genuine change to the way we do things.
I was very fortunate to have the opportunity to join both ZICOlaw and IFSB at the time when these organisations were building themselves as respectable international institutions and as a young professional it was simply exciting and rewarding to be given the chance to be part of something big.
If you are offered a highly lucrative job outside Islamic banking and finance, would you consider leaving your current job?
May be – temporarily, why not? Besides Islamic banking and finance, I have a genuine passion for law and corporate governance, for example, and I can see myself fitting into a job that focuses on developing the corporate governance framework in other industries which are not necessarily related to banking and finance.
Besides, I consider myself still young. I would not hesitate to learn new skills and pick up new experiences from another industry other than Islamic banking and finance – for example, the education sector – especially when the pay is good. I know fully well than the Islamic banking and finance industry is here to stay, so I can always come back to the industry with the newly acquired skills and experience which hopefully would still be relevant for me to contribute to the industry later on.
Do you consider yourself lucky or whatever you have achieved so far is only a fraction of what you had planned?
I consider myself very lucky, alhamdulillah – as when I was a child or even when I have just graduated from university I did not really have a clear idea of what I wanted to achieve in life, other than to just become a good lawyer. Fortunately, I got to join a great law firm that really helped me to develop into a promising young lawyer; and then I got to join an international standard-setting organisation at its pioneering phase, which allowed me to gain tremendous international experience in the fast-growing Islamic banking and finance industry.
Life has been so kind to me. I did not really plan much from there as I have already achieved a lot of progress (professionally) within a relatively short time frame; so at the moment, I plan to just focus on what I am doing (i.e., legal practice) and see where it takes me from here.
You have 3 girls and a boy, aged 1 to 10. Has fatherhood changed how you think about your work?
I am very grateful for the 4 children that I have, alhamdulillah.
When I was growing up, my mother used to take care of our neighbours’ children to generate some income; so I have always been familiar and comfortable with taking care of children. I enjoy fatherhood and do not think that it changes how I think about work. Family always come first in my mind – but work is what brings food on the table – fortunately for me, my children understand very early that their father loves them but must work long hours due to the demand of his responsibility.
As a successful lawyer specialising in Islamic banking and finance, who has worked on a number of reputable transactions, do you think Islamic finance is really different from its conventional counterpart?
I have clear understanding that Islamic banking and finance aims to serve largely similar economic purposes of its conventional counterpart, i.e., to facilitate funding and financing to the various economic sectors.
However, the means of achieving this is slightly different and from experience I can tell you that there are genuine differences between the two.
Just as examples, I can quote reliable reports or studies done by the IFSB and the IMF on how Islamic banking and finance were not as affected as the conventional sector during the global financial crisis – this would prove that the two are rather distinctive (which is why they were not directly affected by the GFC in the same way).
However, most laymen would understand that there are genuine differences between halal and non-halal meat; even when you cannot distinguish between them in terms of their appearance or taste. The same goes to Islamic banking and finance as opposed to its conventional counterpart.
What was your childhood ambition?
My favourite subjects at school have always been language and history. So I knew from the beginning that I probably would end up as a historian or a lawyer.
Freedom or fairness? What would you prefer?
Freedom. It is easier to be realised and achieved. Fairness is too abstract and relative as a concept.
On a scale of 0-10, what number do you assign to the contribution of International Islamic University Malaysia in your career development (10 being maximum)?
8. IIUM has the best law school in the country and I was privileged to have learnt from some of the most illustrious legal jurists in Malaysia such as the late Professor Tan Sri Ahmad Ibrahim and the late Professor Tan Sri Harun Hashim.
I was also active in co-curricular activities as a university debater and members of the Law Society – it really helped me a lot in building my self-confidence and other soft skills before I started my career.
Which city do you feel at home?
Besides KL? Dubai and Jakarta – because I have been to these two cities many times and have good friends whenever I need a company.
Where does Madzlan Mohamad Hussain go from here?
I hope to continue to grow with ZICOlaw as a regional professional service firm – I am very proud to be part of it as we are surrounded by some of the best legal talents that the region has, and it is a home-grown firm that has done so well and will only get better.
Who knows, hopefully one day I will have the opportunity to lead it, in sha Allah.
