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Islamic Banking

Our team offers clients advice on a broad spectrum of banking transactions with a particular focus on large-scale Islamic financings.

The breadth of our expertise in banking-related fields is demonstrated by the calibre of transactions on which we have advised. Some of the major Shari’a-compliant transactions on which we have recently advised can be found below.

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News and insights

Publications: 23 November 2023

Sustainable lending – a growing role for Islamic finance and Middle Eastern financiers

The aims of ESG investing and Islamic Finance structures are already closely – though not perfectly – aligned. Middle Eastern governments are looking to diversify away from oil and gas. This, Samer…

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Recognition

Distinguished Islamic finance team experienced in sukuk offerings, project finance and developing Shari'a-compliant products in the derivatives and investment funds areas. Strong regulatory expertise.

Chambers Global, 2014 (Global-wide, Banking & Finance)

Deal highlights

Al Raha Beach Development, UAE

Al Raha Beach Development, UAE

We advised Dubai Islamic Bank and others as arrangers in relation to a USD2.1bn ijara and conventional co-financing for the Al Raha Beach development in Abu Dhabi.
Al Raya for Foodstuff Company Ltd., Saudi Arabia

Al Raya for Foodstuff Company Ltd., Saudi Arabia

We advised Al Raya for Foodstuff Company Ltd and the sponsors Levant Capital and CVCI on the dual tranche USD13m and SAR75m Islamic murabaha facility made available by UBS and National Commercial Bank. 
 
Aldar Etihad Investment Properties LLC, UAE

Aldar Etihad Investment Properties LLC, UAE

We advised Aldar Etihad Investment Properties LLC on the AED785m financing of its acquisition of the Abraj Towers residential real estate project in Abu Dhabi. The financing involved a conventional term loan facility and a commodity murabaha facility.
Aldar, UAE

Aldar, UAE

We advised Aldar Properties PJSC, the Abu Dhabi-based property developer, on an AED2.203bn (USD600m) ijara facility.
Arabian Petroleum Investments Corporation, Saudi Arabia

Arabian Petroleum Investments Corporation, Saudi Arabia

We advised Riyad Bank, Banque Saudi Fransi, The Saudi British Bank and Al-Rajhi Bank, as mandated lead arrangers on the SAR2.5bn murabaha facility for Arabian Petroleum Investments Corporation (APICORP). 
 
Derindere Turizm Otomotiv San Tic A.Ş. , Turkey

Derindere Turizm Otomotiv San Tic A.Ş. , Turkey

We advised a global financial institution as arranger on the USD60m murabaha facility for Derindere Turizm Otomotiv San Tic A.Ş.
East Village, UK

East Village, UK

We advised the sponsors, Delancey and Qatari Diar, on a GBP350m Islamic financing for the acquisition of East Village, previously the athletes village for the London 2012 Olympics.
Emaar Malls, UAE

Emaar Malls, UAE

We advised the arrangers, including Dubai Islamic Bank, on the AED3.6bn dual tranche conventional and Islamic sherkat-ul-melk facility for Emaar Malls LLC. 
ENOC, UAE

ENOC, UAE

We advised Mashreqbank PSC in relation to USD1.5bn credit facilities (mixed Islamic and conventional including USD and AED tranches) for Emirates National Oil Company Ltd. (ENOC) LLC, a major player in the oil and gas sector in the Middle East.
ENOC, UAE

ENOC, UAE

We advised the banks as the mandated lead arrangers on a dual currency USD500m syndicated Islamic financing for ENOC Supply & Trading LLC. 
Etihad Etisalat (Mobily), Saudi Arabia

Etihad Etisalat (Mobily), Saudi Arabia

We advised Al Rajhi Banking & Investment Corporation, Banque Saudi Fransi, Riyad Bank, Samba Financial Group, Saudi Hollandi Bank, The National Commercial and The Saudi British Bank, as mandated lead arrangers on the SAR10bn financing for Etihad Etisalat (Mobily), one of the largest general syndicated Islamic financing deals to date.

 

GEMS MENASA, UAE

GEMS MENASA, UAE

We advised GEMS MENASA in its capacity as borrower in respect of a AED2bn financing. The financing consisted of conventional facilities, musharaka facilities and murabaha facilities which were all governed by a Common Terms Agreement. 
 
Gulftainer, UAE

Gulftainer, UAE

We advised Gulftainer on the USD100m Islamic financing acquisition facility arranged by Standard Chartered Bank for Gulftainer’s acquisition of a port and its subsequent refinancing by Noor Islamic Bank.
IPIC, UAE

IPIC, UAE

We advised National Bank of Abu Dhabi, Noor Islamic Bank and Al Hilal as arrangers of an over AED5bn facility (with USD tranche) comprising both conventional and Islamic murahaba facilities for International Petroleum Investment Company (IPIC).
Limitless, UAE

Limitless, UAE

We advised Emirates Islamic Bank and Emirates Bank International on a USD1.2bn dual currency mudaraba facility for Limitless LLC, a subsidiary of Dubai World, the proceeds of which will be used to fund landmark real estate projects being developed in Dubai and Riyadh.
Marafiq, Qatar

Marafiq, Qatar

We advised Bank Saudi Fransi, Samba Financial Group, The National Commercial Bank, The Saudi British Bank and Al-Rajhi Bank, as mandated lead arrangers on the SAR4.5bn murabaha facility for Marafiq.
Mobily murabaha facilities, Saudi Arabia

Mobily murabaha facilities, Saudi Arabia

We advised the mandated lead arrangers and the ECAs, Finnvera and EKN, on the multimillion dollar murabaha facilities totalling USD1.206bn made available to Mobily. We also advised an export credit agency on a USD200m murabaha facility made available to Mobily.
Mubadala Pramerica Real Estate Investors, UAE

Mubadala Pramerica Real Estate Investors, UAE

We advised Mubadala Pramerica Real Estate Investors (MPREI) on the AED240m ijara financing entered into with ADCB to acquire three properties on Saadiyat Island, Abu Dhabi.
Sapurakencana Petroleum, Malaysia

Sapurakencana Petroleum, Malaysia

We advised the coordinating bank, Maybank Investment Bank, and the mandated lead arrangers on a multicurrency Islamic facility totalling about USD2.3bn.
 
Saudi Oger, Saudi Arabia

Saudi Oger, Saudi Arabia

We advised Alinma Bank on a SAR2.6bn bai al-ajal facility and SAR993m performance bond facility for Saudi Oger Limited both for the purposes of the MoI KAP2 project in the Kingdom of Saudi Arabia.
Tasnee, Saudi Arabia

Tasnee, Saudi Arabia

We advised Riyad Bank and The Saudi British Bank as the mandated lead arrangers and as participants on the SAR1.2bn murabaha financing for National Industrialization Company (Tasnee).

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