Omar Rahman – GC Powerlist
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Middle East 2023

Financials

Omar Rahman

Chief legal officer | Dubai Islamic Bank

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Middle East 2023

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Omar Rahman

Chief legal officer | Dubai Islamic Bank

Can you tell us a bit about your role at DIB? 

At DIB, my time is split principally between M&A, complex high-value investment banking transactions and multi-jurisdictional litigation. I oversee a complex dispute involving multi-jurisdictional proceedings in the ADGM Court, Dubai onshore courts and LCIA arbitration in London. This consists of overseeing a complex dispute strategy and staying on top of developments in each jurisdiction to ensure the overall process moves forward. In any complex multi-jurisdictional dispute, the key learning is to agree on a comprehensive strategy and then drive each component’s legal proceeding in pursuing that strategy.  

I was also in charge of the complete execution of a significant disposal by DIB of a large takaful insurance company. This involved the complete negotiation of the sale and purchase documentation.  

Overall, over the last two years or so, my time has been more utilised in overseeing disputes rather than on the corporate side by about a 70:30 split. 

Could you share an example of a time when you came up with an innovation that improved how your legal team works and did not come at a large expense? 

One of my key tasks at DIB was to change the culture of the Legal Department from a local litigation-centric focused team to a more international corporate-driven team. This involved encouraging diversity within the group and developing English law capabilities. I also implemented intense training for younger team members in contract drafting and negotiation. I ensured the junior team members were always observers on key calls and meetings to learn from the experiences.  

  

I have taught a culture of genuine partnership with the business teams, getting involved in all aspects of the business. The Bank’s culture has been positively affected as a result. Legal is seen as adding value, and we are brought into transactions/potential disputes very early. Legal is held up internally as a model to follow, and I genuinely believe that our example has led to improved standards across all the service functions. 

 

Can you foresee any key developments to the way general counsel work over the next five years?   

Looking to the future, general counsel in the Middle East will have to be more internationally focused as the region opens up to more international investment. We will have to become more aware of issues such as data protection, which are more prominent in Europe than in this region. General counsel will have to be more aware of international rules and regulations on such matters rather than being surrounded within the area. 

 

Omar Rahman  - Middle East 2022

Chief legal officer | Dubai Islamic Bank

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