Kanaan Law

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Islamic Finance

Given the growing pre-eminence of Islamic finance in the UAE and the region as a whole, we have established a new practice dedicated to providing legal services with respect to Sharia compliant financial products. We offer the following services:

  1. Advice on the legal aspects of Sharia compliant financial transactions in the UAE.
  2. Representing clients in both litigation and arbitration proceedings in the UAE with respect to Islamic finance matters.
  3. Preparing, reviewing and advising on contracts, forms and resolutions.
  4. Proposing new products and services together with their forms, contracts and procedures.
  5. Developing policies and procedures for Sharia compliant products and services.
  6. Advising on the establishment and conversion of financial institutions into Sharia compliant institutions and the launching of Islamic finance windows.
  7. Arranging training courses and workshops.
Our previous experience includes:
  1. Drafting Ijara (capital lease and operational lease), Istisna, Murabaha andMudaraba contracts used by Islamic financial institutions and reviewingnumerous forms of corporate, retail, trade finance and syndicated Sharia compliant financing agreements.
  2. Organizing the collection procedures and documentation for Sharia compliant products.
  3. Organizing the work flow and documentation for Murabaha or Musharaka letters of credit and collections.
  4. Reviewing policies and procedures of the various departments of Islamic banks.
  5. Studying the collateral and conditions of syndication of Sharia compliant financing agreements.