The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Awards

Islamic finance awards 2012: Best legal advisory firm

One of Clifford Chance’s standout deals this year was its advisory role in HSBC Middle East’s issuance of a $500 million sukuk. The sukuk incorporates an innovative dual structure, using both mudaraba and wakala elements.

Clifford Chance also advised on the financing of phase two of the Ma’aden aluminium project, and advised Emirati real estate developer Nakheel on a Dh8.5 billion ($2.3 billion) sukuk programme. The Nakheel sukuk is the first sukuk in the GCC to incorporate tap mechanics: these enable Nakheel to issue fully fungible certificates into a pre-existing series.

Lateef Qudeer, Clifford Chance, Best Islamic legal advisory firm
Lateef Qudeer, Clifford Chance, Best Islamic legal advisory firm

The firm also advised the arrangers – Citigroup, HSBC and Standard Chartered – in the issuance of a $3.5 billion trust certificate for First Gulf Bank. Like HSBC Middle East’s sukuk issuance, the First Gulf Bank sukuk programme utilizes a dual wakala and mudaraba structure, incorporating unique buy-back and cancellation mechanics.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree