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About the practice
Know-how and materials
Islamic finance banking contacts
Our news
About the practice
The Islamic finance banking group is part of Allen & Overy's market leading Global Loans practice. Our reputation as the premier firm in this market is based on our commercial understanding of what our clients are trying to achieve, the quality of our documentation and our ability to deliver a high value service within tight timeframes. Islamic finance is an integral part of this practice which covers syndicated lending, investment grade and leveraged acquisition finance, structured finance, telecoms finance and real estate financing.
We have the ability to handle the full range of Islamic banking work, including murabaha, tawarruq, ijara, istisna'a and musharaka based financings and have been involved in a number of landmark award winning Islamic banking transactions. We take an integrated approach to Islamic banking and our Islamic finance specialists also specialise in the full range of banking work. This gives us an unrivalled ability to provide our Islamic banking clients with a high level of service.
Our team in London works closely with our offices in Abu Dhabi, Dubai and Riyadh to provide seamless multi-jurisdictional advice on cross-border Islamic banking transactions. We also have long-standing relationships with key players in the Islamic banking market which enables us to keep up to date with the latest trends in the industry and provide our Islamic banking clients with innovative solutions.
Know-how and materials
Islamic finance banking contacts
Mike Duncan
Mike is Chairman of the Global Banking Practice at Allen & Overy LLP. He has wide ranging corporate finance and banking experience, including the structuring, drafting and negotiation of debt transactions, advising banks and borrowers on syndicated loans, leveraged financing, asset financing and trade finance.
Mike’s Islamic finance experience includes advising Abu Dhabi Islamic Bank, Barclays Capital and CIMB Bank in connection with a US$250 million syndicated wakala/murabaha facility made available to Bank TuranAlem; Citibank on a US$470 million murabaha facility for Dana Gas to finance the acquisition of Centurion Inc. and Barclays and Dubai Islamic Bank on a US$1.5 billion ijara facility for Nakheel.
mike.duncan@allenovery.com
Bimal Desai
Bimal Desai is Head of Allen & Overy's banking practice in Dubai and a member of the firm's Islamic finance group. He has extensive experience of project financing, Islamic financing, acquisition financing, syndicated loans and ECA/multi-sourced financing in the Middle East, Europe and Asia. Bimal acts for Islamic lenders, multi-lateral agencies and has considerable experience of Export Credit Agency led project financings. Bimal was ranked in Band 1 of Chambers Global 2008's Leading Individuals and named as a Leading Lawyer by IFLR 1000 2008.
Bimal's recent Islamic finance experience includes advising: the Islamic lenders on the USD2.2 billion Islamic facilities for the Dubai Electricity and Water Authority; the Islamic lenders on the US$1 billion Dolphin Energy Limited Islamic financing in the UAE and Qatar; the Islamic and conventional lenders on the US$1.5 billion Sohar Aluminium project in Oman; the project company on the Saudi Polyolefins Company on its USD575 million Islamic refinancing of its project facilities and the Islamic financing of its expansion facility; the project company on the International Methanol Company Project Islamic refinancing in Saudi Arabia; the project company on the GACIC Petrochemical Project Islamic refinancing in Saudi Arabia; and the Islamic lenders on the Taweelah A2 IWPP refinancing in Abu Dhabi which included an Islamic tranche.
bimal.desai@allenovery.com
Atif Hanif
Atif is a senior associate in the Banking Department of Allen & Overy LLP. Atif has broad experience in advising on a wide range of banking and finance financing transactions and specialises in Islamic finance. He has extensive experience of acting for financiers, borrowers and project sponsors. Atif is fluent in both Urdu and English. He also speaks, reads and writes Arabic.
Atif’s recent experience includes advising on the US$60 million murabaha facility for Derindere Turizm Otomotiv San Tic S.A. (Islamic Finance News Awards 2007 – Best Country Deals: Turkey); Saudi Electricity Company on the issue of SAR5 billion investment sukuk in Saudi Arabia and ABN AMRO Bank N.V., Banque Saudi Fransi, CALYON, National Bank of Abu Dhabi, Samba Financial Group, Saudi Hollandi Bank and The National Commercial Bank, as mandated lead arrangers, on the US$2,875 million Sharia compliant facilities made available to Etihad Etisalat Company (Mobily), the second GSM operator in Saudi Arabia. (Islamic Finance News Awards 2007: Best Country Deals – Saudi Arabia).
atif.hanif@allenovery.com
Amar Meher
Amar Meher is a senior associate in the Banking Group of Allen & Overy. Amar has spent time in both the Dubai and London offices of Allen & Overy and specialises in Islamic finance, corporate, project and general conventional banking finance. Amar has worked on numerous high profile Islamic financings across various product areas ranging from the bank market to the capital markets and has been the lead associate on numerous innovative deals which have been the first of their type. Notably, Amar regularly advises on OTC Shari'a compliant derivative transactions. Amar has recently been recognised by IFLR as one of "the world's leading Islamic finance lawyers."
amar.meher@allenovery.com
Further information
Find out more about Allen & Overy's Islamic Finance Group.