In a volatile global market, sukuk deals have been the engine of Islamic finance issuance across the MENAT region - Sukuk have driven Islamic finance activity in the Middle East, North Africa and Turkey (the MENAT region)...more
Prior to the new Civil Transactions Law of the Kingdom of Saudi Arabia (referred to as the “KSA Civil Code”), there were no detailed rules on termination (or faskh) at law in Saudi Arabia. As with other areas of Saudi law,...more
In our initial article in this series, we introduced the new Civil Code of the Kingdom of Saudi Arabia (referred to as the “KSA Civil Code”). This significant legislative milestone codifies the law governing the forming of a...more
On June 19, 2023, the Kingdom of Saudi Arabia enacted the Civil Transactions Law (the “KSA Civil Code” or the “Code”) promulgated by Royal Decree M/191 dated 18 June 2023 (Dhul-Qi’dah 29 1444 AH). The Code, which enters into...more
It has been reported that some asset managers in the Gulf Cooperation Council (GCC) expect stronger inflows amid growing demand for environmental, social, and governance (ESG) and Islamic-compliant investments. The rise in...more
European Union Withdrawal (Consequential Modifications) (EU Exit) Regulations 2020 - The European Union Withdrawal (Consequential Modifications) (EU Exit) Regulations 2020 (SI 2020/1447) have been published, together with...more
In March 2017, the London Stock Exchange Group (“LSEG”) announced a new debt multilateral trading facility (“MTF”) targeted at institutional and professional investors, the International Securities Market (the “ISM”). The ISM...more
As commercial real estate investment has increasingly become global in nature, banks and other lenders are likely to see Sharia’h compliant financing opportunities in markets across the United States. ...more
Franchise agreements give franchisors nearly absolute, unfettered discretion to control advertising of their brands. Franchisors need not regard prior course of dealings with franchisees. An Illinois federal court dismissed a...more
An Illinois federal judge recently found that a franchisor has the absolute right to control its franchisees’ advertising of the products and services offered under a franchise. Lokhandwala v. KFC Corp., No. 17-cv-6394 (N.D....more
Kazakhstan has sought to position itself as the “Dubai of Central Asia” since the advent of the so-called “Dubai model” over a decade ago, with its capital Astana figuring as a global financial hub connecting Western Europe...more
Last week, Hogan Lovells joined representatives of the private and public sector as well as government officials at the Islamic Finance News Kenya Forum 2017. The event was organised by Red Money Events, in collaboration with...more
The development of modern Shari’ah compliant financial products is relatively new, dating back to the early 1970s and the emergence of the first Islamic banks. In recent years, Shari’ah scholars and market participants have...more
The future exit of the United Kingdom from the European Union is to be one of the most profound political, economic and legal events in the country’s recent history. For those who seek to engage with Islamic Finance and...more
Perhaps it is no longer a hidden fact that 2016 will be a difficult year for the Qatari market. With more governmental or quasi-governmental entities announcing reductions or cancellations of projects, staff redundancies and...more
Indonesia, the world’s most populous Muslim nation, is currently taking action, at both the local and international levels, to distinguish the country in the global Islamic finance markets. Originally published in the...more
Earlier this year, we reported on the dismissal of Michigan Islamic Academy’s (“MIA”) RLUIPA suit against Pittsfield Charter Township. According to the District Court for the Eastern District of Michigan, MIA did not have a...more
Global sukuk issuances are expected to reach US$175 billion in 2015, a 59 percent increase from 2014, and are projected to hit US$250 billion by 2020 according to a study published by Thomson Reuters. The anticipated surge in...more
In Bey v. City of Tampa Code Enforcement (11th Cir. 2015), the plaintiff Nura Washington Bey (“Washington”) sued the City of Tampa and its Code Enforcement Officer, Steven Mateyka, after Mateyka cited Washington in connection...more
In This Issue: - Islamic Real Estate Finance: Getting The Deal Done - Announcements & Events - Government Consultation on Energy Efficiency Improvements to the Private Rented Sector - K&L Gates...more
Produced in partnership with K&L Gates LLP - Real estate is an increasingly important asset class for Islamic-compliant transactions and banks in the UK. Islamic-compliant finance has proved to be an alternative source...more
- Co-financing by conventional lenders and Islamic compliant financiers is increasingly common as businesses seek multiple sources of funding. - The structural differences between these tranches mean that issues...more
The number of Sharia-compliant products and transactions has grown enormously over the past decade. Many of the contracts that underpin Islamic finance transactions are governed by English law or the law of another country,...more
In This Issue: - Sharia compliant financing of commercial real estate - Introduction - Real estate as an asset class - Sharia compliance issues that particularly affect commercial real estate...more
In This Presentation: - The demographics - Islamic asset management industry - Islamic fund sizes - Islamic fund composition - What is Shariah? - Shariah terms - Industry...more