At the forefront of Islamic finance legal services
KWM’s multi-disciplinary team provides a holistic understanding of the cultural and legal background to asset based lending and Sharia compliant finance and how it can be applied to a range of transactions in Australia and regionally.
Our lawyers have experience in structuring a range of transactions to fit within the constraints of local tax, securities and asset transfer laws adopting and modifying structures and concepts used globally in Sharia compliant financing arrangements.
We have worked extensively on large-scale asset and structured finance transactions. We have also assisted a number of providers to roll out Islamic finance products for retail and corporate customers. This includes reviews and advice regarding taxation, credit analysis and regulatory compliance of the core concepts and structures when applied in Australia or APAC jurisdictions.
KWM hosted the Annual Islamic Finance Network (IFN) Forum in 2018 and 2019 and has been a supporter of initiatives to assist in the development of sharia complaint funding tools in Australia.
Examples of Islamic finance experience include:
- Bank Islam Brunei Darussalam: on the 2018 financing of 7 Boeing and Airbus aircraft for Royal Brunei Airways
- Liberty Financial: in relation to tax analysis of certain FI products
- Qatar Islamic Bank: on its US$191 million murabaha financing for Barwa Real Estate Company
- Maybank Investment Bank (Malaysia): advised the client in respect of a MYR923 million fixed-rate Islamic bonds restructuring exercise by a subsidiary of a public listed company, including the preparation of all relevant documentation.
- Maybank Investment Bank (Malaysia): advised the client in respect of a MYR150 million issuance of conventional 7-year Commercial Papers and Medium Term Notes by a listed air-freight company to refinance its existing borrowings, to fund future investments and to raise working capital.
- AmInvestment Bank (Malaysia): advised the client in respect of its MYR60 million 7-year Islamic Commercial Papers and Medium Term Notes offering by a listed timber company to refinance its existing borrowings, to fund future investments and to raise working capital.
- TH Properties Sdn Bhd: on its murabaha financing of certain residential development projects in Wentworth Point, Lidcombe and Rockdale, New South Wales.
- Piety Investments: on its purchaser side murabaha financing at Wentworth Point, New South Wales.
- Keppel Corporation Limited: on certain islamic compliant financings for data centres in Sydney, New South Wales.
- Malaysia: advised a merchant bank in respect of a MYR300 million 7-year Islamic Commercial Papers and Medium Term Notes by a listed construction company to refinance its existing borrowings, to fund future investments and borrowings and for future investments and to raise working capital.
- Power project in Pakistan: advised Asian Development Bank (ADB) and Islamic Development Bank on the US$150 million limited-recourse financing of a power project in Pakistan involving both conventional and Islamic financing.
- Confidential Client: acting in the Islamic Republic of Mauritania in relation to project related security issues for an oil and gas financing.
Our Team members have also acted for a number of funds, financial institutions and corporate borrower groups in previous firms on sharia compliant products.