Expert Islamic Finance Lawyers
Expert Islamic Finance Law Firm
The Islamic Finance team at Blake Morgan advises on a wide range of Shari’ah compliant finance facilities, including murabaha (cost-plus financing), tawarruq (cash flow financing), ijara (finance and operating leasing arrangements) and musharakah (partnership financing).
Our Islamic finance specialists act for a variety of customers and banks, and have particular expertise in the development sector.
We are able to advise on the differences between Shari’ah compliant funding arrangements and conventional facilities and the potential benefits and technical risks to a customer.
The Islamic Finance team all hold the global Chartered Institute of Securities and Investment Level 3 Islamic Finance Qualification.
Main Areas Of Practice
Our team of Islamic finance solicitors are highly experienced in dealing with Shari'ah compliant finance facilities in a variety of sectors including:
Real Estate – Commodity Murabaha structures
We offer a range of practical and targeted capital financing solutions to meet our clients' requirements in respect of their property needs. Our Commodity Murabaha structure involves the sale of base metals on the London Metals Exchange to create cash flows similar to a conventional property acquisition and/or development facility.
Real Estate – Diminishing Musharakah transactions
Our Diminishing Musharakah transactions involve the establishment of a partnership arrangement where the bank jointly buys and then transfers ownership of a property to the customer over time.
We provide highly respected and comprehensive legal advice for clients engaging in Shari'ah compliant operating and finance leases of aircraft. By using the Ijara and Ijara wa Iqtina financing arrangements, which often involve establishing a lease arrangement that includes a promise to transfer ownership of the aircraft in question, we ensure that our clients receive Shari'ah compliant outcomes.
Our team advises and acts for customers and also both conventional and Shari’ah compliant financial institutions. We are recommended as preferred solicitors to real estate investors and developers in London and the surrounding regions.
Regularly advising on Islamic funding structures. Impressed interviewees say: "He kept to timescales and had a pragmatic view of the transaction and explained the pros and cons of the situation."
- Chambers UK A Client's Guide to the Legal Profession 2019 - Steve Cole
A developer using a reverse murabaha facility of £10 million in relation to a residential development of 23 units. We advised on the Shari'ah financing structure, and on all aspects of the financing documentation.
A developer in relation to a tawarruq investment facility of £5 million secured against various properties in London. We advised the developer on the differences to a conventional facility and ensured he was comfortable with the arrangements.
An Islamic bank in relation to musharakah funding arrangements involving joint ownership of a number of properties in the West End. We advised on the first use of Shari'ah approved documentation relating to this funding structure for this Islamic Bank.
Awards and Accolades
Awards and Accolades
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We take a look at a recent case, Morley v The Royal Bank of Scotland Plc, that could potentially mean regulation for commercial lending could be on the way.Read More
The Financial Conduct Authority (FCA) has been discussing and consulting on introducing a new consumer duty since 2017 (delayed because of COVID-19). The idea is that it will build on...Read More