Islamic finance
‘This firm started earlier than many in Islamic finance and maintains a world-class offering. The practice covers London, the Middle East and Asia, where its Hong Kong and Singapore offices act on many transactions into emerging markets. It advises on a range of structures, including sukuk, murabaha and Shari’ah-compliant fund formation.’
Chambers Global, 2012
With over thirty years’ experience in Islamic finance transactions, our team enjoys a reputation as a global market leader. The cross-border group provides integrated advice across Europe, Asia, Australia, Canada, Africa, the Middle East, Latin America and Central Asia.
With a team of more than 90 lawyers, our market-leading global Islamic finance practice delivers specialist advice in our key industry sectors: financial institutions; infrastructure, mining and commodities; transport; and technology and innovation.
We play an active role in the shaping of global Islamic finance legislation and products, providing regular advice to national governments on the introduction and implementation of local policy. A trusted advisor to a number of prominent Islamic finance institutions, conventional banks, major corporates and sovereign states; we provide a deep and broad service, unrivalled by many.
We deliver:
- The longest Islamic finance experience and the greatest expertise of any global law firm.
- Expert guidance on how to conduct any transaction in a Shariah compliant manner.
- Expertise in credit facilities and real estate acquisitions involving a Musharakah partnership arrangement with either conventional debt providers or Islamic investors.
- In-depth knowledge of Islamic mortgage products and Takaful insurance policies, together with a guarantee that all terms and conditions are Shariah compliant.
- The benefit of working with a multidisciplinary international legal practice; we can draw upon the expertise of our global specialists in corporate, tax, capital markets, insurance and reinsurance, and other practice areas, to provide a full-service approach to every client.
Our areas of work include:-
- Acquisition finance
- Asset finance
- Bank finance
- Bonds
- Capital markets
- Derivatives
- Funds
- Private equity
- Project finance (including through Istisna’a and Ijara Mawsufah fi al Dhimmah contracts)
- Real estate finance
- Structured finance
- Sukuk (Islamic bonds)
- Takaful
Our recent work:
- Advising the sponsors, TAV Havalimanlari Holding A.S, Saudi Oger Limited and Al Rajhi Holdings (the TIBAH Consortium), on the financing and construction of the US$1.2 billion expansion of Madinah Airport in the Kingdom of Saudi Arabia, the first full PPP (Public Private Partnership) project in Saudi Arabia and one of the largest infrastructure projects in the Middle East in 2012.
- Advising the Republic of Indonesia on its US$3 billion sukuk issuance programme, following our work on its initial US$1 billion sukuk issuance.
- Advising Gatehouse Bank on a sukuk with an innovative structure involving an ijara (lease) with a sale and purchase undertaking that gives noteholders recourse to Gatehouse Bank in addition to security over the sukuk asset, in effect acting as an Islamic covered bond.
- Advising Citibank on a US$300 million dual tranche Murabaha syndicated facility for Islamic bank in Turkey.
- Advising International Innovative Technologies Limited on its US$10 million joint-venture musharaka Sukuk, the UK’s first ever Sukuk.
- Advising ING Asia/Pacific Limited on the establishment of its family takaful joint venture in Malaysia
Awards and accolades:
- Corporate Finance Deal of the Year, 2012 (Emaar Malls financing), Islamic Finance News Awards
- Trade Finance Deal of the Year, 2012 (PT Natrindo Telepon Selular (Axis Indonesia) Financing), Islamic Finance News Awards
- Indonesia Deal of the Year, 2012 (Perusahaan Penerbit SBSN Indonesia II US$1 billion Trust Certificate Issuance), Islamic Finance News Awards
- Best Energy and Natural Resources Firm, 2012, Islamic Finance News Awards
- Best Legal Advisory Firm 2011, Euromoney Islamic Finance Awards
- Outstanding contribution by a law firm to Islamic finance 2011, Sukuk Summit Awards
- Best law firm - Real Estate & Property, 2011, Islamic Finance News Awards
- Takaful law firm of the year, 2011, International Takaful Summit