Walkers' Islamic Finance Group is based in Walkers' Dubai office. We are considered one of the leading practices in our understanding of the principles and issues of Islamic finance as applied to offshore structures.
With an estimated global worth of US$300 billion and an expected annual growth rate of 15 percent the market for Islamic financial products has rightfully gained the attention of the international financial world. Our Dubai office advises many of the leading Islamic and Non-Islamic financial institutions and Banks in the development of Islamically acceptable financial and investment products.
Walkers is an innovator in the ongoing development of Islamic finance and is a market leader in the structuring of Sukuk (including both listed and unlisted products over a range of structures including Sukuk Al-Ijara, Sukuk Al-Musharaka and Sukuk Al-Mudarabah). We were nominated for an award by the IFLR for our work in structuring the first London Stock Exchange listed Sukuk for Tabreed, which was rated BBB-/Stable by Standard & Poor's making it one of the first rated corporate Sukuk in the Middle East. We were also Cayman Islands counsel on the ground breaking East Cameron Gas Company Sukuk Al-Musharaka. This deal was the first Islamic securitisation rated by S&P; it was the first ever Islamic securitisation originated out of the US and was the first securitisation embedding Shari'ah compliant hedges. It was also the second Islamic true sale securitisation originated and structured by BSEC.
Our team in Dubai have advised on a broad range of Shari'ah compliant investment fund structures including a broad range of closed end Shari'ah compliant investment funds as well as Shari'ah compliant private equity products. Walkers also launched the first Shari'ah compliant hedge fund for Shari'ah Capital.