Clifford Chance has a ‘deep partner and associate bench‘ in its corporate finance and Islamic finance practice. The team is capable of fully resourcing complex financings and has been active in all the key Islamic finance centres across London, the Middle East and Asia. Qudeer Latif heads the global Islamic finance practice and has extensive experience advising on Islamic financial services and products, from sukuk and financial regulation to project and infrastructure finance. Mohamed Hamra-Krouha and Richard Parris are key names to note in the firm’s project finance group. Stuart Ure and Graham Brewer are also noted. Changes in the team include Nicola Reader‘s promotion to partner in 2021.
Banking and finance: Corporate finance (including Islamic lending) in United Arab Emirates
Clifford Chance
Practice head(s):
Qudeer Latif
Other key lawyers:
Richard Parris; Mohamed Hamra-Krouha; Robin Abraham; Edmund Boyo; Graham Brewer; Stuart Ure; Nicola Reader
Testimonials
‘A deep partner and associate bench with a second to none reputation in the market.’
‘Stuart Ure, Graham Brewer, Nicola Reader, Qudeer Latif – all of whom have been in the region and with Clifford Chance for over a decade. They display in-depth market knowledge and take a pragmatic/commercial approach to transactions.’
Key clients
Government of Maldives
Islamic Corporation For The Development Of The Private Sector
Standard Chartered Bank
EBRD
Mobile Telecommunications Company K.S.C.P.
HM Treasury
DP World
Emirates NBD
Dubai Islamic Bank
Boubyan Bank K.S.C.P.
First Abu Dhabi Bank PJSC
Work highlights
- Advised the Joint Lead Managers in connection with the Arabian Centres Sukuk II Limited issue of $650m Trust Certificates due 2026 with Arabian Centres Company (“ACC”) acting as Obligor.
- Advised Emirates NBD and Dubai Islamic Bank as arrangers on certain amendments and restructuring to the 2014 financing in respect of Dubai Parks and Resorts (Bollywood Park, Dubai Parks Hotel, Legoland Park and Motiongate Park).
- Advised the Government of the Maldives on the establishment of its Reg S/144a $1bn sukuk programme and debut issuance of $200m thereunder.
Dentons
Dentons has a sizeable banking and finance practice in the region and is a go-to firm for large bilateral or syndicated transactions. In May 2021 Alex Roussos was appointed as the head of the banking and finance practice in the UAE and the Middle East. Roussos specialises in debt, hybrid and equity-linked capital markets transactions (both conventional and Islamic). Qasim Aslam heads the Islamic finance practice in the region and advises across the full spectrum of Islamic finance. Middle East managing partner Paul Jarvis is also noted and has a particular interest in ship and aircraft finance.
Practice head(s):
Alex Roussos
Other key lawyers:
Qasim Aslam; Paul Jarvis
Testimonials
‘Dentons is one of the firms we reach out to directly for our large bilateral or syndicated transactions. The team is solid and its quality of work gives the comfort that any banking or corporate client looks for. They are definitely a firm of choice for our banking transactions.’
‘The team gives a great sense of confidence to us as an in-house counsel. They are easy to reach, very responsive, user friendly and apply a practical approach when finding solutions for problems which is key.’
Key clients
Abu Dhabi Commercial Bank PJSC (ADCB)
Abu Dhabi Islamic Bank PJSC (ADIB)
Aldar Properties PJSC
Banco Santander S.A
Commercial Bank of Dubai PJSC
Dubai Islamic Bank PJSC (DIB)
Emirates NBD Bank PJSC
First Abu Dhabi Bank (FAB)
HSBC Middle East Limited
Islamic Development Bank (IsDB)
Kuwait International Bank
Khaleeji Commercial Bank
Mashreqbank PSC
National Bank of Ras Al Khaimah
Snam
Standard Chartered Bank (SCB)
Work highlights
- Advising Aldar Properties on a sustainability-linked loan of AED 300m from HSBC Bank Middle East.
- Advising Banco Santander S.A., and a syndicate of banks, in relation to an English law governed $166m syndicated lease financing of international logistics group Tristar.
- Advising IsDB on the issuance of $2.5bn trust certificates under its $25bn trust certificate issuance programme.
White & Case LLP
White & Case LLP handles a broad range of mandates within project finance, development finance and corporate finance. The firm advises clients in both the private and public sectors including banks, asset managers, brokers, insurers, fintech entrepreneurs and sovereign wealth funds. Claire Matheson Kirton leads the leveraged finance group and works closely with some of the leading banks in the region. Alexander Malahias in Abu Dhabi is a key name to note within the firm’s project finance offering. William Watson was promoted to partner in the debt finance practice in 2021.
Practice head(s):
Claire Matheson Kirton; Alexander Malahias; William Watson
Key clients
The Red Sea Development Company
Emirates Water and Electricity Company (EWEC)
Saudi Arabian Oil Company (Saudi Aramco)
Saudi Power Procurement Company (SPPC)
Fawaz Abdulaziz Al Hokair Co.
Saudi Water Partnership Company (SWPC)
Gargash Enterprises
Emaar
Metro Jeddah Company (MJC)
Abu Dhabi Islamic Bank
First Abu Dhabi Bank
HSBC
National Commercial Bank
Bank of America Merrill Lynch
First Abu Dhabi Bank
Gulf International Bank
J.P. Morgan
Citigroup
Goldman Sachs International
Deutsche Bank
Emirates NBD
Societe Generale
Dubai Islamic Bank
IHS Towers Limited
Dar Al-Handasah Consultants
Work highlights
- Advised The Red Sea Development Company on the signing of key finance documents for Phase One of The Red Sea Project, the revolutionary tourism giga project currently under development on the Red Sea coast of Saudi Arabia.
- Advised EWEC in connection with the PV2 IPP involving the development of a 2GW solar project, together with a grid station and associated facilities in the Emirate of Abu Dhabi, UAE.
- Advised Fawaz Abdulaziz Al Hokair Co., a leading diversified fashion, beauty, and food retailer in Saudi Arabia, with international operations across 13 countries, in connection with its $800m refinancing.
Al Tamimi & Company
Al Tamimi & Company is a ‘one stop shop for all legal services‘ and has ‘unparalleled‘ knowledge of local banking and finance laws. The team’s specialties are wide ranging, from project finance and Islamic finance to asset finance and derivatives. Practice head Jody Waugh is ‘brilliant and commercially oriented‘. Mamoon Khan focuses on bilateral/syndicated lending, structured trade finance and aircraft finance transactions. Mark Brown is also noted and advises on transactional lending, product development, insolvency and project finance.
Practice head(s):
Jody Waugh
Other key lawyers:
Mamoon Khan; Mark Brown
Testimonials
‘ATCO’s corporate finance team in UAE is involved in most of our high profile transaction in the market. Their knowledge of the nuances of all free zones in UAE is unparalleled and they provide very competitive fee arrangements.’
‘Jody Waugh is a brilliant and commercial oriented partner, with an outstanding knowledge of local laws.’
‘Tamimi is a one stop shop for all legal services. The team is always very practical in giving advice and will often focus on the real issues to simplify matters. They are on top of all law updates and our “to go to” firm for all queries on new laws and to find practical solutions to problems.’
‘The team has a “can do” attitude to all of our assignments and will always try and find practical solutions to problems. This is key for us and to any corporate or banking client. The team is very approachable and user friendly.’
Key clients
ADNOC
Japan Bank for International Cooperation
BNP Paribas Fortis SA/NV
Mizuho Bank, Ltd.
Standard Chartered Bank
Sumitomo Mitsui Banking Corporation
ACWA Power Global Services Limited (“ACWA”)
ICICI Bank Limited
Bank of India
Mashreq Bank
Arab African International Bank
UAE Central Bank
Allen & Overy LLP
Allen & Overy LLP has a sizeable banking and finance practice with expertise in Islamic finance, conventional and ECA financing across the full range of loan products. Julian Johansen, who has extensive expertise advising on major financing transactions involving roads, rail and infrastructure PPPs now heads the practice. Samer Eido and Kyle Nevin have a broad conventional and Islamic finance practice. Anthony Traboulsi is another key name to note and heads the firm's civil law banking offering in the region.
Practice head(s):
Julian Johansen
Other key lawyers:
Samer Eido; Kyle Nevin; Sajjad Juma; Anthony Traboulsi
Key clients
ADCB
First Abu Dhabi Bank
Mubadala
Meraas
Emirates Global Aluminium
GEMS
Standard Chartered Bank
Credit Suisse
BNP Paribas
JP Morgan
Work highlights
- Advised Japan Bank for International Cooperation and NEXI on a total co-financing amount of approximately $927m for the development of a waste-to-energy facility in Warsan, Dubai.
- Advised the National Bank of Bahrain BSC on a high-profile GBP150m term loan facility to McLaren Group.
- Advised Banque Saudi Fransi, Riyad Bank, Saudi British Bank and Saudi National Bank (the mandated lead arrangers and bookrunners) on the $3.76bn term loan and revolving credit facility. The financing qualified as a green finance credit facility – securing its status as a green project.
Linklaters
Linklaters has a team of Islamic finance specialists with experience handling multi-sourced conventional and Islamic transactions. Kieron Zaman heads the UAE finance group and advises UAE and international banks and companies on development financing, investment grade financing, acquisition finance and real estate finance. Dubai and Saudi-based Omar El Sayed advises on all aspects of bank lending, particularly syndicated loans and Islamic financings. Counsel Reem Al Sayegh is also noted and has a strong syndicated and secured financings practice. Andrew Jennens has relocated to the London office.
Practice head(s):
Kieron Zaman; Omar El Sayed; Reem Al Sayegh
Other key lawyers:
Iina Pakkala
Testimonials
‘Kireon Zaman and Reema Al Sayegh are excellent.’
‘We work on a regular basis with Linklaters teams based in Dubai and Abu Dhabi. We do appreciate their commitment to the client and ability to consistently meet deadlines. Team members are approachable and always keen to provide detailed explanations.’
‘Kieron Zaman is my go-to lawyer for Islamic finance. Reem Al Sayegh is the next-generation partner and always able to deliver quality works. Among the associates, Iina Pakkala is worth mentioning.’
Key clients
Emirates NBD Bank
Abu Dhabi National Energy Company (TAQA)
Alinma Bank
Bank of America Merrill Lynch
Samba Financial Group
Mashreqbank PSC
First Abu Dhabi Bank PJSC
Abu Dhabi Commercial Bank PJSC
Citibank NA
Dubai Islamic Bank
Abu Dhabi Islamic Bank
Gems Menasa (Cayman) Limited
Central Bank of the UAE
National Commercial Bank
Ahli United Bank B.S.C
Work highlights
- Advising the creditor committee on the debt restructuring of Drake & Scull International PJSC.
- Assisted GEMS Education in raising $150m under a privately placed high-yield note with funds provided by US and European investors.
- Advising Meydan City Corporation on the restructuring and recapitalisation of its existing indebtedness.
Norton Rose Fulbright
Norton Rose Fulbright has an experienced transactional banking practice that covers general banking, real estate finance, export credit finance, trade finance, acquisition finance and asset finance. Banking and Islamic finance practice head Mohammed Paracha has extensive expertise in real estate finance, project finance, sukuk, Shariah governance and regulatory matters. Robin Balmer is a key contact in the region and heads the banking and finance practice in Saudi Arabia. Nicholas Robinson is another key individual in the firm's UAE offering.
Practice head(s):
Mohammed Paracha
Other key lawyers:
Robin Balmer; Nicholas Robinson
Key clients
HSBC
Standard Chartered Bank
Bank of America and Merrill Lynch
Societe Generale
BNP Paribas
First Abu Dhabi Bank
EmiratesNBD
Abu Dhabi Commercial Bank
Mashreqbank
Commercial Bank of Dubai
Work highlights
- Advised the book-runners and mandated lead arrangers on a $1.75bn sustainability-linked credit facility to EmirateNBD Bank PJSC (ENBD), involving a syndicate of leading international banks.
- Advising the lenders to ACWA Power and GIC in respect of the development and financing (both conventional and Islamic) related aspects of the 900MW photovoltaic fifth phase of the Mohammed bin Rashid Al Maktoum Solar Park.
- Advised APICORP and National Bank of Fujairah in respect of all aspects of the structuring and financing by Total Solar of a portfolio comprising 30 rooftop solar projects in the UAE as part of the Dubai Shams Rooftop initiative.
Afridi & Angell
Afridi & Angell has a full service banking and finance practice and advises on matters relating to structured finance, acquisition finance, Islamic finance, project finance and regulatory work. Senior consultant Amjad Ali Khan co-heads the practice alongside Bashir Ahmed, who specialises in loan and credit facilities, syndications, Islamic finance and regulatory matters. Senior associate Rahat Dar is also noted and has expertise in Islamic and conventional financing structures.
Practice head(s):
Bashir Ahmed; Amjad Ali Khan
Other key lawyers:
Rahat Dar
Ashurst LLP
Ashurst LLP advises on structured and trade finance, corporate borrowing and real estate financing. A key area of focus is multi-sourced financing structures for energy and infrastructure projects. Managing partner and practice head David Charlier has extensive project financing experience across the full spectrum of the energy and infrastructure sectors. Senior associate Natasha Kavanagh advises both sponsors and lenders on the structuring and financing of projects.
Practice head(s):
David Charlier
Other key lawyers:
Natasha Kavanagh
Testimonials
‘The partners and team have experience and knowledge of the local dynamics.’
Key clients
Asyad Group
Lamar Holding W.L.L.
Red Sea Gateway Terminal Company Limited
Vision Invest
ACWA Power International
DP World
Alinma Bank
Gulf International Bank
Al Rajhi Bank
Saudi British Bank
SAMBA
SMBC
SMTB
ADNOC
Work highlights
- Advising ADNOC, as procurer, on two independent sub-sea high voltage direct current systems, comprising of cables and onshore and offshore converter stations in the Emirate of Abu Dhabi on a build-own-operate-transfer basis.
- Advising the commercial lenders on the Marubeni-led project financing for the development, design, financing, construction, commissioning, operation and maintenance of the Tanajib IPP, a new cogeneration independent steam and power plant.
- Advising the funders on the financing of the expansion, construction, operation and maintenance of a container terminal operated by DP World at Jeddah Islamic Port.
Clyde & Co LLP
Clyde & Co LLP's banking and finance practice is divided into four key areas: conventional finance, Islamic finance, asset finance (marine and aviation) and financial services regulatory advice. Adil Hussain acts as the Middle East head of banking and finance, as well as the firm's global head of Islamic finance. Financial services and insurance specialist Peter Hodgins is highly regarded. Other key individuals include Ian Chung, who focuses on corporate finance, and aviation finance expert Michael Nelson.
Practice head(s):
Adil Hussain
Other key lawyers:
Peter Hodgins; Ian Chung; Michael Nelson; Matthew Shanahan; Abdelhak El Kinany
Testimonials
‘First class service and knowledge of our sector which is insurance, lending, debt and structuring.
‘I cannot speak more highly of Peter Hodgins. I treat him like a member of our team and he is always on hand to assist when we need advice and guidance.’
‘Clyde is a professional client-focussed legal firm. Able to respond and act swiftly to clients requests.’
‘Abdelhak El-Kinany – He is passionate about his job, has extensive knowledge of the LMA agreements, strong ability to explain and express his views and position to client, good communication skills and ability to resolve conflict and disagreements. Committed and available to client.’
‘The team are proactive, helpful and commercial in their approach. Clyde’s as a firm is very commercial and their fees for quality advice are very reasonable.’
Key clients
Capital For Life FZE Ltd
DEX Holdings Limited
Stanford Asia Holding Company
Abu Dhabi Islamic Bank PJSC
Kenya Airways
Flynas
Air Arabia PJSC
Dell Bank International DAC
EDM Capital Ltd
Bank of Singapore Ltd
National Marine Dredging Company
Work highlights
- Advised on the debt restructuring of Stanford Marine Group’s $308m facility by SHUAA Capital.
- Advising a new fintech start-up, DEX Holdings Limited on the establishment of operations in the Abu Dhabi Global Market (ADGM).
- Advised National Marine Dredging Company in relation to the contribution of 100% shares of NPCC to NMDC in exchange for a convertible note subscribed by SENAAT (shareholder of NPCC) that will become, further to the conversion of the note, the majority shareholder of NMDC.
DLA Piper
DLA Piper advises on both conventional and Islamic finance for clients on the borrower and lender side. Key areas of focus include real estate finance, asset and project finance, sukuks, restructuring and insolvency. Paul McViety heads the firm’s UAE banking and finance practice and is the head of Islamic finance practice for the region. Managing partner Peter Somekh advises on a range of finance and restructuring mandates. Head of finance, projects and restructuring James Iremonger is also noted.
Practice head(s):
Peter Somekh; James Iremonger; Paul McViety
Other key lawyers:
Robert Harker; Richard Dassin
Testimonials
‘The practice always tries to find structural solutions on our Islamic financing structures. They are very customer friendly.’
‘Great banking & finance practice & great value. Their advice is always clear and concise.’
‘Paul McViety and Richard Dassin are excellent lawyers within this field.’
‘Quick turnaround, competitive pricing, always available and consistently delivering output to a high standard.’
‘Rob Harker is a very practical and sensible practitioner who is always available for clients.’
Key clients
Alvarez & Marsal, the liquidators of Joannou & Paraskevaides (Overseas) Limited
Kuwait Finance House (Bahrain) B.S.C. (KFH)
Emirates Islamic Bank
Boubyan Bank KSCP
Baker McKenzie LLP
BHabib Al Mulla & Partners, a member firm of Baker & McKenzie International has a broad domestic and cross-border practice that covers Islamic financing, trade financing, real estate financing, infrastructure/project financing and acquisition financing. Sandeep Puri heads the UAE banking and finance practice and has expertise in both conventional and Islamic finance across a range of asset classes. Mazen Boustany has extensive banking and finance experience particularly in Islamic finance, structured finance, securitisation and private equity, among other areas.
Practice head(s):
Sandeep Puri; Mazen Boustany
Testimonials
‘The corporate finance team is composed of very highly qualified and bright individuals who deliver to the highest standard. They are supported by other, all very qualified departments and a very responsive admin team to ensure the entire experience, from engagement to closing, is a seamless experience. It is hard to get this level of service outside of London and NY and they have achieved it.’
‘Sandeep Puri is excellent to work with. He is sharp, focused and understands his client’s needs with tremendous astuteness.’
‘Very speedy and responsive, even at the most senior levels. Provide excellent legal advice and supports the client throughout any difficulties and challenges faced, especially when legal advice is challenged.’
‘Mazen Boustany – fantastic, knowledgeable, approachable, and well connected. Takes complicated requests and simplifies them. Helps solve business solutions from a legal context’
Key clients
Abu Dhabi Commercial Bank
Emirates NBD
Credit Agricole
HSBC
MUFG Bank Ltd
Standard Chartered Bank
Government of Egypt
Wasl Group
Five Holding Limited
Dar Al Takaful PJSC
Agility
Mashreqbank PSC
The National Bank of Ras Al Khaimah
Warba Bank
Burgan Bank
Dubai Health Care City FZ LLC
Work highlights
- Acted as legal counsel to the Egyptian government, acting through the Ministry of Finance, on the signing of a $2bn syndicated financing transaction.
- Advising Dar Al Takaful PJSC on the acquisition of Noor Takaful General PJSC and Noor Takaful Family PJSC from Noor Bank PJSC and Noor Investment Group LLC.
Hadef & Partners
Hadef & Partners has strong local expertise and frequently advises on acquisition finance, corporate restructuring and Islamic finance mandates. The practice has an experienced project finance offering and regularly advises sponsors on large projects. Practice head James Farn has expertise in leveraged finance, property finance, development funding, trade finance and project finance. Alan Rodgers focuses on Islamic finance and project finance.
Practice head(s):
James Farn; Alan Rodgers
Testimonials
‘Great bench depth across the banking team.’
‘Alan Rodgers is a superb practitioner with rigorous intellectual skills combined with a pragmatic commercial approach.’
Key clients
KBBO Group
Drake & Scull International P.J.S.C.
Abu Dhabi Fund for Development (ADEX)
Work highlights
- Advising a large diversified investment group headquartered in the UAE that operates in four principal sectors (healthcare, food, retail, and education) on the ongoing financial restructuring of the Group.
- Advising a global industry leader that delivers state-of-the-art projects and solutions across its high-performance sectors, on its current financial restructuring.
Latham & Watkins LLP
Latham & Watkins LLP has a strong client base that includes financial institutions, government-related entities, private equity firms and funds. The practice has a broad range of expertise and is led by Villiers Terblanche, who specialises in complex infrastructure transactions and regulatory reform projects. Chirag Sanghrajka has extensive experience advising clients on all phases of development and financing of energy, telecoms and infrastructure projects. Key changes to the team include the return of Christian Adams from an in-house position, bolstering the firm's finance and restructuring capabilities in the UAE.
Practice head(s):
Villiers Terblanche
Other key lawyers:
Chirag Sanghrajka; Christian Adams; Peter Norris
Testimonials
‘Their key strengths are being: solution orientated, knowledgeable, responsive, helpful, able to think out of the box.’
‘Their exceptional level of responsiveness with tailored solutions and consistently high-quality work product despite time differences, pandemic-related constraints and tight turnaround times.’
‘Appreciated working with Chirag Sanghrajka. His professional candid demeanour is assuring and he strikes one as being extremely competent, efficient and effective in his field of expertise and this is well reflected in the services received. When engaging with him protracted interactions are not needed as his depth of subject matter knowledge and prior relevant experience allow him to quickly grasp the issues and propose a feasible solution.’
Key clients
Public Investment Fund
Global Infrastructure Partners
Saudi Ports Authority
TruKKer
Jabal Omar Development Company
HSBC
The Mauritius Commercial Bank Limited
Nedbank
Riyad Bank
Work highlights
- Advised the Public Investment Fund of the Kingdom of Saudi Arabia on its landmark $15bn multi-currency revolving credit facility.
- Advised the EBRD, the OPEC Fund, the AfDB, and Arab Bank on a $114m financing package, also involving financing from the Green Climate Fund, for the construction of ACWA Power Kom Ombo solar power plant in the Aswan Province, Egypt.
- Advised a consortium on bridge financing in connection with a minority investment agreement with Abu Dhabi National Oil Company (ADNOC) for the consortium to invest in select ADNOC gas pipeline assets.
Eversheds Sutherland LLP
Eversheds Sutherland LLP advises a range of domestic and international banks and has expertise in assisting clients with both the borrower and lender side. The practice has a strong focus on the renewable energy space and is regularly instructed by developers and lenders. Practice head Clint Dempsey focuses on project finance, trade finance, real estate and development finance and Islamic finance.
Practice head(s):
Clint Dempsey
Testimonials
‘Overall I would call out Eversheds for being super responsive on our last transaction. The team fully aligned with the client side and we avoided the need for lengthy video calls to explain the commercial position.’
‘We worked primarily with Clint Dempsey. Clint was on hand at all times leading the team and his inputs gave us a high level of confidence that we had bankable documentation for an end-user start up.’
‘Quick response and efficient.’
‘Clint is very responsive.’
Key clients
Classic Fashion Apparel Ltd Co
HSBC Bank Middle East
Omnix International Co. LLC
Voltalia
Bank Julius Baer
Scatec
Rasmala Investment Bank
Rasmala Real Estate Fund
HFW
HFW has a strong focus on infrastructure and project finance, ship and aviation finance and leasing and Islamic finance, among other matters. Practice head Shyamal Jeewoolall has extensive experience advising airlines, aircraft leasing companies, banks and financiers. Asset finance partner Tien Tai focuses on ship and project financing matters. Vince Gordon has a broad finance practice that covers project finance, funds and financial regulatory work.
Practice head(s):
Shyamal Jeewoolall
Other key lawyers:
Tien Tai; Vince Gordon; Barbara Pansadoro
Testimonials
‘I was particularly impressed by the performance of Senior Associate Barbara Pansadoro on a recent transaction. Barbara has very strong work ethics and a sense for defending her clients’ interests with a poised, reasonable approach. In addition, I was impressed with Barbara’s ability to turn around reviews, questions, e-mails or take phone calls over an astonishingly long timespan each day, making the time-difference virtually inexistent.’
Key clients
Banque de Commerce et de Placements S.A.
COSCO Shipping Ports Limited
UBS Bank of Switzerland
Windcrest Limited, (investment company)
Nedbank Corporate and Investment Bank
Caterpillar Finance
Work highlights
- Advised Credit Agricole Indosuez and other lenders on the restructuring of McDermott International’s rig operations in the UAE and in Saudi Arabia.
- Assisted CA-CIB with a commercial loan transaction in respect of a new Airbus A350-900 to be leased to Cathay Pacific Airways.
- Advised Windcrest Holdings on introducing to the UAE market a new business in high specification off road vehicles.
King & Spalding LLP
King & Spalding LLP advises on both conventional and Shariah compliant financings across real estate finance, acquisitions, funds, asset finance and project finance. Managing partner Jawad Ali has extensive experience developing and implementing Shariah compliant financing and investments. Nabil Issa has a strong cross-border M&A, private equity and finance practice. Other key names to note include Michael Rainey and Asal Saghari.
Practice head(s):
Jawad Ali; Michael Rainey; Andrew M. Metcalf
Other key lawyers:
Nabil Issa; Michael Rainey; Asal Saghari
Testimonials
‘The team is deeply experienced and well connected across the GCC region, which brings real-world solutions to each situation.’
‘The individuals have a good sense the cultural norms which makes cross border transactions easy and efficient.’
Key clients
The Saudi National Bank
Arab National Bank
The Saudi British Bank (SABB)
Banque Saudi Fransi
Riyad Bank
Gulf International Bank
JPMorgan
Emirates NBD Bank
Credit Suisse
SAIMCO
Abu Dhabi Islamic Bank (ADIB)
NBK Capital Partners
KFH Capital Investment Company
Dimah Capital Investment Company
Riyad Capital
Soor Capital
Samba Capital
Gulf Capital
GFH Financial Group
Qatar First Bank
Derayah Capital
Global Gate Capital
Cerberus Capital
Franklin Templeton
The Northern Trust Corporation
KAMCO Investment (DIFC) Limited
Work highlights
- Advised Windcrest Holdings on structuring the acquisition of a private Swiss fund, among other matters.
Morgan, Lewis & Bockius LLP
Morgan, Lewis & Bockius LLP has an experienced Shariah compliance practice that handles multi-sourced financings, Islamic finance, corporate finance and project finance. Ayman Khaleq heads the practice and has extensive experience advising on Islamic finance, particularly in relation to sustainable sukuk issuances. Changes to the team include the departure of Victoria Mesquita.
Practice head(s):
Ayman Khaleq
Testimonials
‘The firm has a good understanding of what Shariah advisors look at in order to endorse a structure as Shariah compliant, close communication with the Shariah advisor to facilitate understanding.’
‘Ayman Khaleq is very hands on and has a strong understanding of what we, as Shariah advisors look at in undertaking the review and endorsement process of a particular structure/transaction. Ayman is also quick to suggest alternative ways and easy to discuss and brainstorm with in order to make a structure work.’
‘Ayman Abdel Khaleq impresses me with his technical depth, high level of knowledge regarding the region and excellent command over latest industry trends.’
Key clients
Al Ahli Holding Group
Al Futtaim Investment Management Limited
Dubai Islamic Bank
Emirates Islamic Bank PJSC (UAE) and Khaleeji Commercial Bank (Bahrain)
Fly Dubai
FWU AG
Gulf Capital
Humania North Africa
Islamic Corporation for the Development in the Private Sector (ICD)
Mashreqbank PSC
NBK Capital Partners
Noor Bank
SHUAA Capital
Work highlights
- Represented SHUAA Capital in a $50m sukuk issuance by Pure Harvest Smart Farms, one of the leading high-technology vertical farms operators in the region.
- Advised Humania North Africa Holding Limited and its majority owner, the Bait Al Batterjee Medical Company, on an equity investment from three development banks of up to $108.5m.
Pinsent Masons LLP
Pinsent Masons LLP frequently receives instructions on cross-border transactions, both secured and non-secured. The team also works closely with export credit agencies and development finance institutions. Practice head Matthew Escritt advises on all aspects of structured cross-border finance. Other key names include project finance specialist Tim Armsby and Tom Bicknell, who focuses on clients in the financial services including fintech start-ups and insurers.
Practice head(s):
Matthew Escritt
Other key lawyers:
Tim Armsby; Tom Bicknell; Matthew Dyson
Testimonials
‘Helpful approach and responsive to client requests.’
‘Mathew Dyson has been efficient and helpful, with a commercial approach.’
Key clients
Meraas Holding
Al Rajhi Banking & Investment Corporation
Lulu Group
Mashreqbank
YES Bank Limited
Emirates NBD
Bank of Muscat
Al Fahim Group
Japan Bank for International Cooperation
Mizuho
Dubai Islamic Bank
Consolidated Contracting Company
Work highlights
- Advised a consortium of Saudi and international banks on the 300MW solar power plant being procured in Rabigh, Saudi Arabia.
- Advising Meraas Holding LLC on a broad range of Islamic finance mandates.
Stephenson Harwood
Under the expert leadership of Nijoe Joseph, the 'commercially savvy' team at Stephenson Harwood assists both borrowers and lenders with the full spectrum of banking and finance matters across the Middle East region and beyond. Aviation, shipping, energy, infrastructure and real estate are sectors of particular expertise. In February 2022, Rustum Shah joined from Hogan Lovells (United Arab Emirates) LLP to head up the firm's Islamic finance offering.
Practice head(s):
Nijoe Joseph
Other key lawyers:
Rustum Shah
Testimonials
‘The experience with Stephenson Harwood LLP over the years has been remarkable. The firm has been successful in delivering within the committed timelines and the attention of partners to matters entrusted is quite commendable. Further, the firm’s fee proposal has been quite competitive without any compromise on quality of work.’
‘Nijoe Joseph is an excellent lawyer and someone who understands the specific requirements of his clients and provides assistance based on those needs. He gets involved quite deeply into matters that are entrusted to him which gives clients the comfort that the advice provided by the firm is effective and in their best interests. Being a relationship partner as well for us, he has managed the relationship quite efficiently and has always been in touch. Nijoe provides practical advise to his clients highlighting the pros and cons of a matter and hence is highly recommended for sound legal advice.’
‘They are very commercially savvy. They help get the deal done while protecting our interests.’
‘Nijoe Joseph is a trusted partner that I can count on. He’s proactive and very knowledgeable.’
Key clients
EnTrust Global’s Blue Ocean Funds
Yellow Door Energy Limited
National Bank of Fujairah PJSC
Housing Development Finance Corporation Limited
Commercial Bank of Dubai PSC
Emirates NBD Bank PJSC
China Construction Bank
ICICI Bank Ltd
Axis Bank
ICBC Bank
FIM Bank (Malta)
Bank of Baroda
Jumbo Electronics
Work highlights
- Advising EnTrust Global’s Blue Ocean Fund on a loan facility to United Overseas Group in relation to its acquisition of United Arab Chemical Carriers, a Dubai-headquartered international shipping company.
- Advising Yellow Door Energy on the project financing of five solar power plants in the Hashemite Kingdom of Jordan, led by the European Bank of Reconstruction and Development.
- Advising the National Bank of Fujairah on a $45m financing for Stanford Marine Group.
Watson Farley & Williams
Watson Farley & Williams advises on a range of secured and unsecured debt financing transactions for banks and financial institutions. Practice head Andrew Baird focuses on cross-border asset and project finance and is praised for his ‘commercial and solutions driven attitude‘. Other key names to note include Michael Savva and associate Charlotte Knight, who is ‘results driven‘ and ‘intelligent‘.
Practice head(s):
Andrew Baird
Other key lawyers:
Michael Savva; Charlotte Knight
Testimonials
‘Very impressed by the firm in all aspects, main strengths include: broad and deep knowledge of the renewable energy sector; very strong on financing documentation and portfolio financing in particular; legal advice – never loses sight of the commercial realities; very patient, flexible and supportive when encountering delays and unforeseen events; access to expertise from more mature markets, in particular their London team.’
‘Andrew Baird – extremely knowledgeable, easy to deal with, commercially minded, strong network, patient.’
‘Without doubt the best experience we have had with any lawyers in the UAE, hence the reason we have returned to them for multiple work streams. The main differentiator has been the clear and unambiguous advice they give, their commercial mindset, their market expertise and sector knowledge, and the patience and support they provide at all steps of the way without constantly trying to increase fees like most other lawyers.’
‘Andrew Baird: Long-standing experience in maritime sector, both with banking or other finance parties and industry clients. Extensive knowledge of international maritime corporate finance related issues and transactions. Deep knowledge of shipping industries, its problems and practices. Problem solver and bridge builder never losing sight of client’s interest. Commercial and solution driven attitude based on his experience and understanding of the sector. Hard worker, delivering on promises.’
‘Charlotte Knight: Results-driven, intelligent, knowledgeable and hard-working lawyer who knows her way in the maritime sector. Delivers as promised, never loses overview in complicated transactions, bringing all parts of a transaction successfully together. Strong with people, whether client or not always focusing on delivering high quality work within agreed time frames.’
Key clients
Viken Aurum Shipowners Holdings Limited
Maritime Equity Management LLC
Siraj Power Holding Limited
Various clients
Work highlights
- Acted as counsel to VASHL in respect of the pre-delivery financing of two Aframax-type LR2 vessels equipped with Liquified Natural Gas propulsion currently under construction at Guangzhou Shipyard International.
- Advised Maritime Equity Management LLC on the DIFC law aspects of a wider restructuring transaction in relation to United Arab Chemical Carriers Limited.
- Acted for Siraj as the borrower under a groundbreaking $50m secured portfolio project financing of rooftop solar PV assets.
Addleshaw Goddard
Addleshaw Goddard advises both borrowers and lenders on a broad range of debt restructuring transactions. Robin Hickman has extensive experience in the region and has a strong finance and restructuring practice. Changes in the team include the promotion of Philip Chalmers to managing associate, and the arrival of Victoria Mesquita, who strengthens the practice's ability to service instructions concerning Islamic finance.
Practice head(s):
Robin Hickman
Other key lawyers:
Victoria Mesquita; Philip Chalmers
Key clients
HSBC
Mashreqbank PSC
Standard Chartered Bank
First Abu Dhabi Bank
JP Morgan
Barclays
National Bank of Fujairah
Emirates NBD Bank
Dubai Islamic Bank
Commercial Bank of Dubai
Work highlights
- Advised Mashreqbank PSC who, through its Islamic finance division Mashreq Al Islami, provided $260m Islamic facilities to the Sharjah National Oil Corporation (SNOC).
- Acting for the steering committee of creditors (on behalf of 38 banks) in respect of the multi-billion-dollar restructuring of KBBO, a UAE investment group in healthcare, consumer products and payment systems.
- Acting for the steering committee of creditors (on behalf of 26 banks) in respect of the $1.3bn restructuring of Finablr Plc, the formerly LSE-listed holding company which controls payments companies UAE Exchange and Travelex.
Bird & Bird
Bird & Bird has in-depth Islamic finance expertise with a particular focus on aviation finance. The practice is led by Gregory Man, whose arrival in late 2020 from Norton Rose Fulbright has bolstered the firm’s finance and regulatory capabilities in the UAE. Legal director Ganna Vlasenko is another key name to note and has expertise across debt and equity capital markets, structured finance and securities regulation.
Practice head(s):
Gregory Man
Other key lawyers:
Ganna Vlasenko
DWF Middle East LLP
DWF Middle East LLP acts for a range of clients in the UAE including lenders, financial institutions, funds, sponsors, borrowers, and issuers. Practice head Umera Ali specialises in Islamic finance and structured finance and advises clients in the financial services, energy and transportation sectors. Ali has been increasingly active in the renewable energy and sustainable finance space.
Practice head(s):
Umera Ali
Key clients
Bin Sulaiman Holding Company
VIP Investment Holdings
Novelis Incorporated
Novelis Incorporated
Link Lease Finance PLC
Al Hamra Real Estate Development LLC
International Polymers Company
BodySmart Finance Limited
Neutral Capital Finance PLC
Gulf Pharmaceutical Industries PSC (“Julphar”)
Novelis MEA LTD.
UNICUS Investments Holding Limited
GFH Westside
Ibrahim & Partners
Ibrahim & Partners advises on a broad range of banking and finance matters and has expertise in ADGM and DIFC regulatory matters. May El Ghamry has a strong background in banking and her expertise covers project finance and syndicated loan transactions, feed-in tariffs and PPP. Ahmed Ibrahim specialises in ECM transactions and corporate restructuring.
Practice head(s):
Ahmed Ibrahim; May El Ghamry
Testimonials
‘Highly supportive, well-experienced/highly exposed, and very prompt in providing their feedback and service in the agreed upon timeline.’
‘May Adel is always available and ready to assist even during holidays.’
‘The team working with us has the following strengths: 1- They are well organized. 2- Well acquainted with our requirements. 3- Highly supportive. 4- Prompt with their feedback. 5- Excellent lead time in providing the required service.’
Key clients
Arab International Bank
Allied Partners PSC
Arab African International Bank (UAE)
Amanat Holdings PJSC
Commercial International Bank
Linklaters
Meraas
Shearman & Sterling LLP
Work highlights
- Advised AIB on the credit facility with Orascom Construction S.A.E and Orascom Construction PLC with an amount of up to 800 million Egyptian Pounds (appx. $51m), as well as compliance with the LIBOR regulations.
- Acted as the CIB’s legal counsel in connection with a credit facility extended by the CIB to Starwood Industries, LLC (Egypt) as the borrower, and Starwood Industries LLC (UAE) as the guarantor.
- Advised Amanat Holdings PJSC in relation to a common terms agreement of up to AED 405 million.
Reed Smith
Reed Smith's UAE banking and finance practice is led by Amir Ahmad, who joined the firm in 2019. Ahmad has expertise advising lenders and borrowers on multi-sourced (Islamic) and ECA-supported financings, leveraged finance, real estate development, project finance and general corporate financings. He is supported by senior associate Umbreen Meenai, who also has a broad conventional and Islamic finance practice.
Practice head(s):
Amir Ahmad
Other key lawyers:
Umbreen Meenai
Testimonials
‘The team are forward thinking legal experts providing commercial solutions in a complex market place. They have advised in a simple and straightforward manner to ensure stakeholders are engaged. They have gone above and beyond in meeting the client’s needs. They have an incredibly diverse team providing us with plurality in thought when advising.’
‘Amir Ahmad has led the team, providing restructuring and insolvency advice. He has become the trusted advisor to the corporate, navigating us through complex insolvency matters to ensure compliance and value add. His management skills ensure his team deliver cutting edge advice in a timely manner. Amir’s understanding of the commercial and practical realities sets him apart from his competitors.’
‘The team is well versed in conventional and Islamic banking and finance, making them one of the very few firms in the regions and globally able to provide legal advice that is commercially tailored to client’s needs.’
‘I have worked with Amir Ahmad and Umbreen Meenai who were very supportive, detail oriented and provided the best possible advice to the benefit of the lenders and negotiated to lenders’ advantage with the borrower’s counsel.’
Shearman & Sterling LLP
Shearman & Sterling LLP has a full-service finance practice with a global presence, covering a range of areas including project finance, acquisition finance, ECA financings, restructuring and Shariah compliant financing. Philip Stopford and heads the UAE banking and finance practice. Laleh Shahabi left the firm in early 2023.
Practice head(s):
Philip Stopford
Other key lawyers:
Claire Hunter
Key clients
Mubadala Capital
Simmons & Simmons Middle East
Simmons & Simmons Middle East has a strong sector focus and advises on a wide range of transactional banking matters, including asset finance, project finance, derivatives and restructuring. Advising on funds is another area of focus. Muneer Khan heads the practice and is an Islamic finance specialist.
Practice head(s):
Muneer Khan
Key clients
J.P. Morgan
Work highlights
- Acted for J.P. Morgan as lead counsel on its Islamic structured products programme.