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First Ever Malaysian Commercial Case heard (and to be decided) by a 9-member Bench in the Federal Court of Malaysia
Islamic Banking & Finance Institute Malaysia (IBFIM) inaugural newsletter featuring a story on the deliberation of the first ever Malaysian commercial case heard and to be decided by a 9-member bench of the Federal court of Malaysia. In this case, Kuwait Finance House (Malaysia) Berhad as the Plaintiff/Respondent had granted various Islamic facilities to JRI Resources Sdn Bhd (the 1st Defendant/Appellant) including an Ijarah (leasing) Facility of shipping vessels. JRI Resources later defaulted and failed to make payments of the sums outstanding under the Ijarah Facility.