Clifford Chance advises on the most complex and ground-breaking Islamic finance deals throughout the world
Islamic finance has been one of the fastest growing areas of finance. Islamic finance techniques and products continue to evolve and our Islamic finance practice is at the forefront of innovation. We help devise and deliver financing solutions that offer investors the opportunity to invest in accordance with the principles and values of Islam.
Our Islamic finance practice, headed by partner Qudeer Latif, is highly experienced in all Islamic finance contracts (including bai salaam, ijara, istisna'a, mudaraba, murabaha and musharaka), Islamic capital markets such as the raising of finance through the issuance of sukuk (in which investors subscribe for certificates representing an undivided interest in an underlying asset). Our expertise also extends to creating Shari'a compliant acquisition and real estate financing structures (in many cases merging conventional and Shari'a compliant financing techniques), Shari'a compliant funds as well as takaful (a form of insurance).
Our lawyers have structured some of the most complex and innovative Islamic finance transactions and have worked closely with many different Shari'a committees and advisers. We have represented a range of institutions including sovereigns, corporates and banks and have also collaborated with regulators to come up with legislation geared towards Islamic finance solutions, which will promote and encourage greater interest and activity in Islamic finance in the market.
We continue to lead the industry having worked on a number of “firsts” in the past year
- the first ever sukuk issuance by the Republic of Turkey
- one of Asia Pacific’s first internationally rated multi-currency sukuk issuance programmes
- the first sukuk convertible into units in a real estate investment trust and the first convertible sukuk issuance in Singapore
- an ijara facility structured using real estate in the Dubai International Finance Centre (DIFC), the first time this has been done
- the first sukuk issuance by a Saudi Arabian government entity with the benefit of an express guarantee from the Ministry of Finance
- a very rate issue of an Islamic instrument by a non-financial institution and a corporate entity that is not a government related entity, in the UAE
- the largest ever private sector financing in Qatar
- the largest SAR-denominated revolving credit facility and the largest single-tranche syndicated corporate credit facility ever conducted in Saudi Arabia
- the first investment grade sukuk for a US corporation.