The Islamic finance sector is one of growing importance encompassing a wide range of activities, across diverse industries and utilized by various institutions. Islamic finance, however, faces a number of complex legal issues as it continues to mature from its stage of relative infancy. Of relevance is identifying the best-fit solutions that meet both the Maqasid al-Shari’ah (the objectives of Islamic law) as well as the necessary legal and financial needs of an ever-evolving global economy. A business operating in this sector requires a law firm and lawyers who truly understand such issues and can deliver innovative, practical and effective solutions.
Among international firms, Blakes has one of the largest and most active financial services practices with leading expertise in all aspects of banking and insurance, including Islamic finance. Blakes lawyers have a broad knowledge and understanding of Shari’ah-compliant matters and are well positioned to meet your legal needs in Shari’ah-compliant asset finance, capital markets, including Sukuk (Islamic bonds), corporate governance, derivatives (including the new Ta’Hawwut (Master Agreement)), structured finance, banking, Takaful (insurance), investment funds and project finance. Our transactional expertise and deep-rooted relationships with financial, regulatory and advisory bodies allow us to provide exceptional service on Islamic finance to established borrowers and issuers as well as those new to the industry.
Our dedicated Islamic Finance group also advises clients on how to apply regulatory requirements with respect to Shari’ah-compliant banking services, including preparing Shari’ah-compliant financial agreements in anticipation of regulatory review, advising on accounting standards, corporate governance, regulations and tax for Shari’ah-compliant banking products and advising on the establishment of Shari’ah-compliant banks.
Our presence in the Gulf, in addition to our other global offices, provides a strong platform to advise on international financial services including Islamic finance. Our integrated global office network also provides clients with the insight and access to our full range of multi-jurisdictional legal expertise.