Funding undertaken in accordance with the precepts of the Sharia (Islamic law) continues to exhibit exponential growth throughout the globe.
With offices based in Bahrain and Qatar and our work for significant privately owned groups and other clients in the Middle East, we are firmly focused on Islamic finance. A substantial part of our Islamic finance work now also emanates from the UK and Europe and our offices in London, Paris, Luxembourg and Geneva are well-placed to serve these clients.
Our dedicated team of Islamic finance lawyers is trained in conventional banking law techniques. We are familiar with all Islamic modes of financing, whether they are buying and selling, leasing or equity participation in its various forms. As well as the funding models, we understand very well the injunctions that shape this activity (eg riba, gharar, maysir, inah) and the techniques that are used to facilitate solutions (eg wakala, hawala, arboun, wa'ad).
Our team fully understands the principles of murabaha, bai salam, istisna'a, ijara, mudaraba, musharakha or sukuk without the need for further explanation. We are able to provide standard transactional documentation and innovative bespoke documentation, as well as legal, strategic, regulatory and structuring advice.
Our lawyers are not just experts on the law, but also on the regulatory and strategic policy initiatives that underpin sector development. As such, we are a firm that is able to give a fully-comprehensive Sharia-compliant perspective. Our ability to deploy specialist Islamic finance lawyers who are experts in this subject, sets us apart from the rest.
Our Islamic finance team also regularly works alongside colleagues in our Real Estate, Private Client and Family teams to ensure that all clients seeking Sharia-compliant solutions are suitably advised.
Receivables conduit financing
Acted for a money transfer business which operates in over 20 jurisdictions in its Sharia compliant receivables conduit financing. The financing is secured against receivables owed by correspondents and other counterparties and was innovative in applying Sharia principles to a variable funding.
Acted for a significant Middle Eastern private group in the Sharia compliant financing of a multi-fleet aircraft portfolio.
Real estate investment
Acted for a Qatari group in the Sharia compliance financing of investments in prime UK real estate.
Working capital facility
Acted in the Sharia structured financing of a working capital facility for a major UK construction group.