Given the recent upheaval in world financial markets, demand for morally sound financial products has risen sharply, leading to the rapid expansion of Islamic finance. Globally, the Islamic finance industry is estimated to be worth $2 trillion, and is growing at an annual rate between 15% and 20%. This rapid pace of growth and evolving industry practices have outstripped both the existing legal and financial infrastructure for Islamic finance and the supply of qualified experts, leading to regulatory challenges. Our Islamic finance practice, led by Dr. Walid Hegazy, ensures that these challenges are met with the strength of our lawyers’ decades of expertise in Shariah-compliant transactions.
We have advised on specific jurisdictional concerns, commercial issues, taxation, accounting and other regulatory considerations. We counsel developers, financial institutions and counsel governments on Shariah-compliant matters. Our experience encompasses the structuring and documentation of Islamic finance facilities, issuances of sukuk (Mudaraba and Musharaka-based) and Ijarah-based bonds, the structuring of Murabaha contracts and Murabaha-based facilities. We routinely handle Islamic finance contracts of every kind (including Bai Salaam, Ijara, Istisna’a, Mudaraba, Murabaha and Musharaka). Our clients include the Government of Saudi Arabia, Saudi Telecom Company, BNP Paribas, Abu Dhabi Islamic Bank, the Egyptian Ministry of Finance, Sorouh, Credit Suisse, STC, Saudi British Bank, Bin Laden Group, and Beltone.
We regularly counsel both businesses and lenders on Shariah-compliant financing options. We understand the importance of financing new ventures and expansions ethically, without sacrificing the financially benefit. Our lawyers have the adroitness to maximize both, even in the most convoluted financing arrangements.
Our experience in Islamic finance is broad enough, and the understanding that has come with years of dedication deep enough, to handle the legal aspects of any shariah-compliant mortgage. Our practice encompasses advising on the most appropriate form of Islamic mortgage as well as drawing up necessary documents for Ijara, Musharaka, and Murabaha home purchases.