Islamic Finance

An Innovative Approach

Latham’s global Islamic finance lawyers have extensive Islamic finance experience across the core practice areas of banking, project finance, capital markets, restructuring, mergers and acquisitions (M&A), investment funds and dispute resolution. The firm's lawyers advise governments, banks, sponsors, export credit agencies, investment funds and other investors on Shari’ah-compliant transactions in the Middle East, Europe, United States and Asia.

Latham lawyers have a reputation for innovation and have been involved in the development of ground-breaking Islamic finance transactions globally. Recognized in the leading directories as world-class practitioners in the Islamic finance field, the firm's lawyers regularly participate and host Islamic finance workshops and conferences and have authored articles and books on topical issues in Islamic finance. Most recently, Latham’s Dubai and London-based partner Craig Nethercott co-edited and contributed to Islamic Finance Law and Practice, a practical and commercial guide to the fundamental principles of Islamic finance and their application to Islamic finance transactions, published in March 2012 by the Oxford University Press.

Expertise Across Borders

The practice has a broad geographic reach with experienced Islamic finance lawyers located in the Middle East and other offices, including London, New York, Chicago, Los Angeles, Hong Kong and Singapore.

Latham & Watkins' transactional experience includes structuring, documenting and advising on:

• The key Islamic contracts of Murabaha, Modaraba, Tawarruq, Ijara, Wakala, Musharaka, Salam and Istisna
• Shari’ah-compliant investment funds, including private equity, venture capital and real estate funds
• Sukuks
• M&A transactions involving Shari’ah-compliant vendors and targets
• Project finance (either on a wholly Islamic, or multi-tranche, basis)
• Shari’ah-compliant asset finance, including aviation and ship finance
• Interbank treasury instruments for IFIs
• Islamic mezzanine and structured finance
• Tax issues relating to Islamic finance transactions
• Restructuring and ‘amend-and-extends’ of Islamic facilities
• Islamic transaction dispute resolution
• Shari’ah-compliant structured finance and derivative products, including profit rate swaps

The firm's lawyers have been involved in a number of groundbreaking Islamic finance transactions, including:

• First ever Shari’ah compliant private equity fund domiciled in the Qatar Financial Centre
• First long-term Islamic project financing (Qatargas II)
• First ever high-yield Sukuk in the GCC (Dar Al Arkan)*
• First Islamic project financing in Oman (Sohar Smelter)*
• The then-largest Islamic project financing in Saudi Arabia (Petro-Rabigh)*
• The then-largest Murabaha facility for a Kuwaiti corporate (MTC’s 2006 facility)*
• The innovative airtime sales facility in Saudi Arabia (Mobily)*
• First Islamic PPP financing in Saudi Arabia (Hajj Terminal)*