Our team has been structuring and advising on Shariah-compliant financings for Islamic institutions and investors for over a decade.

With unrivalled experience in supporting participants in the sector with innovative solutions, we have the pre-eminent Scottish practice in Islamic finance and are a trusted advisor in England and Wales with international reach.

We structured the first Shariah-compliant retail mortgage and savings product operating under Scots law and carried out the first purely Islamic commercial property financing in Scotland.

Our Islamic finance group works in collaboration with Shariah scholars and supervisory boards to provide pragmatic and commercial advice which observes the principles of justice, equity and fairness inherent in the Shariah.
 


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Experience

Education premises
Acting for a UK-based Islamic bank in the refinancing of educational premises in Glasgow owned by a charitable foundation based on a diminishing musharakah (decreasing partnership) structure, which was the first fully Shariah-compliant commercial real estate financing in Scotland.
Office accommodation
Acting in the Shariah-compliant refinancing of high-value HQ office accommodation in Aberdeen. The accommodation, totalling 159,170 sq ft of floor space, is occupied by Petrofac as its North Sea office headquarters. The funding was completed by way of a commodity murabaha facility from an established international bank.
Multi-let investment property
Advising a Shariah-compliant financial institution on the secured financing of a multi-let investment property in Scotland by way of a diminishing musharakah facility to facilitate a corporate acquisition of the property owning vehicle by a trust registered as a Scottish charity.
Aerospace site
Acting for a German bank in refinancing the £50m plus acquisition of an aerospace site using a hybrid structure involving a commodity murabaha facility (a murabaha transaction is a form of Islamic financing based on the purchase of underlying assets and their sale at a profit mark-up that enables a financier to provide funding without an interest bearing loan) provided by a special purpose vehicle and funded by way of a conventional loan facility, to supplement an Islamic equity investment.