The Legal 500

United Kingdom > London > Finance > Islamic finance

Editorial sections

Other

All countries

Index of tables

  1. Islamic finance
  2. Leading individuals

The ranking takes into account shari’ah-compliant financing capabilities in London and the Middle East. Recommended lawyers are London-based, unless noted otherwise.

Allen & Overy LLP is superb for sukuk, and demonstrates ‘excellent legal knowledge and extremely strong industry knowledge’. Roger Wedderburn-Day and Dubai-based Anzal Mohammed are ‘at the top of their field for technical expertise, understanding of Islamic finance and their influence in shaping sukuk issuance’. The team advised Saudi Electric Corporation on its SAR7bn sukuk issuance, Saudi Arabia’s first public offering of 2010. Salim Nathoo, Michael Duncan and very good senior associate Atif Hanif are also recommended.

‘Excellent across all its offices’, Clifford Chance ‘bridges the needs of Islamic finance and conventional capital markets products’. It is advising HM Treasury and parliamentary committees on Islamic finance, and drafted the ISDA/IIFM Tahawwut Master Agreement. Recent instructions include advising Noor Investment on a feeder fund investment, and acting for PT Natrindo Telepon Seluler on a $1.2bn equipment financing – Indonesia’s largest private sector Islamic financing to date. It also advised lenders on a SAR2.2bn murabaha bridge facility to develop an acrylates complex in Saudi Arabia, and advised another client on a large issuance featuring sukuk and conventional tranches. The ‘outstanding’ Habib Motani displays ‘excellent overall knowledge in conventional and Islamic capital markets’; and Riyadh-based Tim Plews and Dubai-based Debashis Dey, Qudeer Latif and Robin Abraham are also recommended.

‘A fine practice’, King & Spalding International LLP is ‘second to none with regards to innovative Islamic finance structuring and solutions’, and is ‘very good on Islamic fund structuring and contracts’. It advised EURX Properties SCA on refinancing a €200m ijara facility secured against European properties. Other clients include Arcapita, Eastgate Capital, HDG Mansur Investment Services Inc and Mashreqbank psc. Dubai-based Jawad Ali is ‘at the cutting edge of the industry, pragmatic, flexible, very skilled in negotiation and discussions, and has outstanding intelligence’. Michael Rainey is ‘top class’, ‘focused on details, committed, and a very good listener’, and has ‘an honesty of approach that recognises problems, but solves them’. Dubai-based Rizwan Kanji joined from Norton Rose (Middle East) LLP in November 2010.

Norton Rose LLP’s team has changed significantly. The practice’s founding partner Neil Miller retired in April 2011; the ‘enormously well-respected’ and ‘energetic and enthusiastic’ Mohammed Paracha re-joined the firm from Al Salam Bank; Rizwan Kanji moved to King & Spalding; and the ‘exceptional’ Davide Barzilai relocated to Hong Kong. There are three new regional practice heads: Barzilai for Asia; the ‘very good’ Farmida Bi for Europe; and Paracha for the Middle East and Africa. Highlights included advising Kuveyt Türk on its $100m LSE-listed sukuk, noteworthy as Turkey’s first sukuk and Europe’s first bank sukuk. The team also advised HSBC on financing for SabaFon in Yemen; QF Investment Management NV on a shipping-focused mezzanine financing fund; and Calyon on a commodity murabaha for Zain Sudan. Oli Charlesworth in Abu Dhabi is ‘very responsive, competent and accessible’.

Hogan Lovells International LLP’s ‘excellent’ team advised Citi and Liquidity House as joint lead managers on Kuveyt Türk’s $100m sukuk. Other clients include Dubai Islamic Bank, Morgan Stanley, Noor Islamic Bank, QInvest and Sharjah Islamic Bank. Dubai-based Rahail Ali is ‘experienced, efficient, and has a strong knowledge of shari ’ah structures, and an ability to think outside the box’.

Linklaters LLP advised lenders on financing Saudi Arabia’s $14bn Jubail refinery and petrochemical project, which included four Islamic tranches with conventional lender participation. It also acted for Emaar Properties PJSC on a $2bn ijara-structured trust certificate programme; and Khazanah on its SG$1.5bn wakalah-structured trust certificate programme, Singapore’s largest local-currency issuance by a foreign issuer. Dubai-based Richard O’Callaghan is recommended. Andrew Roberts left for Fontenergy.

‘Always accessible and responsive’, Addleshaw Goddard LLP is expert in complex shari’ah-compliant real estate, funds and asset management. Clients include Gatehouse, CIMB Islamic Bank Berhad, and Coutts plc. Practice head Andrew Petry has ‘very good knowledge of Islamic finance’.

Ashurst LLP’s new instructions included Abu Dhabi Islamic Bank’s $750m sukuk issuance, and the team remained busy on the Nakheel restructuring. Practice head Abradat Kamalpour is ‘very knowledgeable and practical’.

Berwin Leighton Paisner LLP’s clients include ABC Islamic Bank, Dar Capital and European Islamic Investment Bank plc. Tamara Box and department head Saleem Malik are the key figures in the practice. Andrew Baird joined Watson, Farley & Williams LLP.

Herbert Smith LLP advised Gatehouse on the shari’ah-compliant purchase of student accommodation incorporating a conventional loan; and Al Salam Bank of Bahrain on a shari’ah-compliant mezzanine refinancing of 5 Canada Square. Dubai-based practice head Nadim Khan is recommended.

Latham & Watkins LLP’s Craig Nethercott and Brian Conway joined from White & Case LLP in 2010. They advised lenders on a $2.5bn murabaha for Zain in Saudi Arabia. Anthony Pallett is set to join the firm in the UAE from Norton Rose (Middle East) LLP.

Milbank, Tweed, Hadley & McCloy LLP has advised on Islamic financing for major projects including Saudi Arabia’s $10bn Yanbu refinery and the $4.1bn Marafiq IWPP in Jubail. John Dewar is recommended.

Practice head Habib Ullah led Nabarro LLP’s advice to The Investment Dar on financing and developing the £350m Grosvenor Apartments in Park Lane. It also advised Zain on the commodity murabaha financing of its Sudanese subsidiary.

SNR Denton’s Matthew Sapte led advice to the joint lead managers on IDB’s $750m sukuk issuance and Sharjah Islamic Bank’s $400m sukuk. Paul Jarvis in Abu Dhabi and Richard de Belder are also recommended.

Shearman & Sterling LLP advises on shari’ah-compliant financing and mixed conventional/Islamic financing for major projects including Pakistan’s New Bong and Uch II developments and Saudi Arabia’s Ras Tanura petrochemicals project. It has also been advising on Nakheel’s restructuring. Tim Pick is recommended.

‘Very good and very accommodating’, Simmons & Simmons advised HSBC Bank Middle East Limited on a $175m syndicated Islamic financing to RAK Ceramics, and represented Dubai Islamic Bank as lead arranger on Saudi Binladen Group’s $842m syndicated credit facility for a campus development. Muneer Khan in Abu Dhabi is ‘able to understand the bigger picture’, and ‘flexible’, and ‘provides prompt and timely advice’.

Taylor Wessing LLP demonstrates ‘first-class knowledge of the relationship between shari'ah and general law’. It advised Deutsche Postbank and Helaba on commodity murabahas, and the government of Dubai on its sukuk programme. It also advised on the London International Hospital sukuk, the first under the UK’s Finance Act 2009. Practice head Hamid Yunis ‘knows the area and the players’, and Rodney Dukes is also recommended.

Trowers & Hamlins LLP has a ‘good and reliable team’, particularly for real estate and projects. It advised Gatehouse on commodity murabahas for UK property acquisitions worth over £100m; advised QIB (UK) plc on a tawarruq facility for a site purchase; and represented Arabian Sugar Company on a $63m istisna’a and ijara to develop a refinery. Other clients include Arcapita, Dar Capital and Kuwait Finance House. Practice head Nicholas Edmondes is recommended, as is Manama-based Neale Downes and his ‘knowledgeable and helpful’ Bahrain team.

Search News and Articles

Press releases

The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to

Legal Developments in the UK

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to

Press Releases in the UK

The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to
© 2012 www.legal500.com