Full-Service Islamic Finance Practice.
Steady growth and increasing prominence – that has been the trajectory of the Islamic banking sector in recent years. Since the early 1990s, Milbank's Finance Group recognized the growing role that this specialized field would have in the banking sector and placed a special focus on financing work that complies with Islamic finance principles. Our Islamic Finance Group is familiar with the processes necessary to develop and implement structures that meet the approval criteria of Shari’a committees in a range of jurisdictions. We have advised Islamic banks, international banks and corporations on the structuring and documenting of Murabaha, Musharaka, Ijarah, Istisna’a, Sukuk, Mudaraba and Wakala financings.
experience that meets the Needs of our Clients
Our key strength lies in the ability of our lawyers to adapt their experience with complex structured financing techniques that have evolved in the bank lending and capital markets to be consistent with Islamic finance principles and to reflect the other priorities of Islamic institutions providing or requiring financing. We help Islamic banks and investors better manage and allocate risk using financing techniques and structures which have evolved in the conventional financing markets and that comply with Shari’a requirements.
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Some of our most notable work in this field includes representing Islamic finance institutions, commercial banks and an ECA in the $3.5 billion Marafiq IWPP in Saudi Arabia and the underwriters on the $4.5 billion Petroliam Nasional Berhad (Petronas) bond offering.