Partner

Gopal Sundaram began his highly distinguished career in Bank Negara Malaysia (“BNM”), the Central Bank of Malaysia, in 1982, pursuant to graduating from University of Malaya on a BNM scholarship. After spending 30 years at BNM, Gopal retired from BNM and joined the legal profession. He was admitted and enrolled as an advocate and solicitor of the High Court of Malaya on 17 May 2013. 

As Assistant Governor he was responsible for the Legal Department, Finance Department and the IT Services (Computer) Department as well the Money Museum and the Art Gallery. During his tenure, he was a member of various committees chaired by the Governor, inter alia, the Management Committee, the Monetary Policy Committee, the Financial Stability Committee, the Budget Committee, the Risk ManagementCommittee and in attendance at the Malaysia International Islamic Financial Centre Executive Committee (MIFC), a multi-agency committee appointed by the Prime Minister.

Upon his retirement in 2011, he was appointed as Project Adviser to BNM to advise and supervise the drafting of an omnibus legislation for banking, insurance, payments systems and exchange control as well as an omnibus Islamic legislation for Islamic banking, takaful, payment systems and exchange control. These legislation, namely the Financial Services Act 2013 and the Islamic Financial Services Act 2013, were passed by the Malaysian Parliament in 2012 and came into force on 30 June 2013.

Gopal is the only member of the International Monetary Law Committee of the International Law Association (MOCOMILA) from Malaysia. He is also a member of the Panel of Experts of P.R.I.M.E. Finance, Peace Palace, The Hague, Netherlands. 

Gopal is also the Chairman of the Board of Governors of Methodist College Kuala Lumpur. Gopal currently sits on the Boards of Tenaga Nasional Berhad and Sea Capital Services Berhad.

He was the International Regulatory Expert for the Asian Development Bank from August 2018 for a project on Islamic Finance for Inclusive Growth in the Kyrgyz Republic, the Republic of Tajikistan as well as the Islamic Republic of Afghanistan, until July 2021.

He has also been a Short-Term Consultant for the World Bank from March – June 2018 for a project relating to the regulation of state-owned banks in Sri Lanka.

He was concurrently an Independent International Consultant from August 2017 – 30 June 2018 for a World Bank Financial Sector Modernization Project relating to the Sri Lankan Financial System.

His extensive experience in legislative drafting includes the Financial Services Act 2013, the Islamic Financial Services Act 2013, the International Islamic Liquidity Management Corporation Act 2011, the Credit Reporting Agencies Act 2010, the Data Protection Act  2010, the Central Bank of Malaysia Act 2009, the Cooperatives Commission of Malaysia Act 2007, the Malaysia Deposit Insurance Corporation Act 2005, the Payment Systems Act 2003 (now subsumed under the Financial Services Act 2013), the Development Financial Institutions Act 2002, the Islamic Financial Services Board Act 2002 and the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.

His current areas of legal practice include remittance law, online CMSL licensing regimes, crypto currencies regulations, electronic money in particular e-Wallets, foreign exchange administration, establishment and the de-enfranchisement of financial holding companies under the Islamic Financial Services Act 2013 (IFSA) and the Financial Services Act 2013 (FSA), formation of Foundations under the Companies Act 2016, AMLA Compliance, corporate governance and Islamic finance.

While serving in the Central Bank of Malaysia, he had provided technical legal assistance to the Republic of Namibia as well as Pakistan. He was also extensively involved in the Resolution of Ailing Financial Institutions, Domestic and International Institution Building (including the Labuan Financial Services Authority and CAGAMAS) and in resolving several financial crisis involving finance companies and banks.

1. Assisting and advising Webull Malaysia Berhad to obtain a CMSL licence for online capital market services
2. Assisting and advising a regulatory/enforcement authority on merger control
3. Assisting and advising a client on compliance with the revised Policy Document relating to Terrorism Financing and Proliferation Financing