Last Updated October 08, 2019

Law and Practice

Authors



Winston & Strawn London LLP provides a wide range of legal services through its banking and finance practice, to public and private companies, leading financial institutions, multilateral and development finance institutions, private equity and investment funds, alternative funding sources, investors and emerging companies, on investment grade, leveraged and mezzanine financings. The firm advises on high-profile transactions and matters ranging from cross-border transactions, initial public offerings (IPOs) and project finance matters, to distressed acquisitions and creative “first-of-their-kind” financings. Clients include leading international funding sources which provide senior, subordinated, secured and unsecured debt, and hybrid (equity/debt) products, as well as institutional investors who regularly participate in senior debt markets, equity sponsors, and borrowers in both developed and emerging economies. Additional thanks to partners Ed Denny and Dan Meagher and associate Shaheer Momeni, among others, for their contributions to this chapter.

Al Rayan Bank Sukuk

In February 2018, Al Rayan Bank (UK) issued the largest ever sterling sukuk for GBP250 million. Al Rayan Bank became the first bank in the world to issue a public sukuk in a non-Muslim country.

Fintech

Although still in the early stages of development, there has also been increased focus globally on fintech in Islamic finance, driven by growth in demand and greater awareness among Islamic finance market participants – and prospects for developments in this area (particularly in the Islamic peer-to-peer financing and crowd-funding space) appear positive in the UK.

Outlook

Consistent with the long-standing perception of it as a Western hub for Islamic finance, the UK is encouraging the growth of Islamic finance through the implementation of amendments to legislation and government policy, and the potential for the further development of its Islamic finance industry remains positive. The UK’s commitment towards the development of the Islamic finance market is expected to continue post-Brexit, particularly because even a no-deal Brexit could incentivise investment from the Gulf if real-estate assets decrease in value.

Winston & Strawn London LLP

1 Ropemaker St
London
EC2Y 9AW

020 7011 8700

+44 20 7011 8800

JeRobertson@winston.com www.winston.com
Author Business Card

Authors



Winston & Strawn London LLP provides a wide range of legal services through its banking and finance practice, to public and private companies, leading financial institutions, multilateral and development finance institutions, private equity and investment funds, alternative funding sources, investors and emerging companies, on investment grade, leveraged and mezzanine financings. The firm advises on high-profile transactions and matters ranging from cross-border transactions, initial public offerings (IPOs) and project finance matters, to distressed acquisitions and creative “first-of-their-kind” financings. Clients include leading international funding sources which provide senior, subordinated, secured and unsecured debt, and hybrid (equity/debt) products, as well as institutional investors who regularly participate in senior debt markets, equity sponsors, and borrowers in both developed and emerging economies. Additional thanks to partners Ed Denny and Dan Meagher and associate Shaheer Momeni, among others, for their contributions to this chapter.

{{searchBoxHeader}}

Select Topic(s)

loading ...
{{topic.title}}

Please select at least one chapter and one topic to use the compare functionality.