The global market for Islamic Finance is reported to be worth in the region of $2.4 trillion USD. The UK is leading the way in Europe as a centre for Islamic Finance and our solicitors are well placed to offer expertise and support to this growing sector.
We have experience of acted for wholly Sharia compliant banks, UK and overseas occupiers and investors in high value residential and commercial acquisitions, re-finances and equity release transactions, typically using the Diminishing Musharakah or Murabahah Agreement.
Alongside the Islamic Finance documentation, we are experienced in reviewing and amending legal charges, leases, guarantees, third party charges, assignment of rent deeds, deeds of postponement and tripartite deeds of release. This is in addition to carrying out full due diligence on high value residential and commercial transactions including, dealing with off shore companies and legal opinion letters when dealing with sales by foreign entities.
We understand the requirements of both the Sharia compliant Bank and their Customer in preparing detailed reports on title, reviewing complex titles, searches, occupational documentation and establishing key issues affecting the security.
Typically, we work within tight deadlines and work well as a team with the solicitors acting for the seller and the bank in order to achieve exchange and completion as soon as possible.