By kanlaw@mews In On February 25, 2020
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. It will be led by Dr. Firas Adi, a specialist in Islamic finance who was responsible for all legal and compliance matters at a leading Islamic bank in Syria, Cham Islamic Bank. He will be supported by a team of banking, insurance and real estate attorneys who have extensive experience in the UAE.
We offer the following services:
- Advice on the legal aspects of Sharia compliant financial transactions in the UAE.
- Representing clients in both litigation and arbitration proceedings in the UAE with respect to Islamic finance matters.
- Preparing, reviewing and advising on contracts, forms and resolutions.
- Proposing new products and services together with their forms, contracts and procedures.
- Developing policies and procedures for Sharia compliant products and services.
- Advising on the establishment and conversion of financial institutions into Sharia compliant institutions and the launching of Islamic finance windows.
- Arranging training courses and workshops.
Our previous experience includes:
- 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.
- Organizing the collection procedures and documentation for Sharia compliant products.
- Organizing the work flow and documentation for Murabaha or Musharaka letters of credit and collections.
- Reviewing policies and procedures of the various departments of Islamic banks.
- Studying the collateral and conditions of syndication of Sharia compliant financing agreements.