26 Jan 2016 | 09:26 am |
International law firm Pinsent Masons has secured the Commodity Murabahah/Tawarruq award at this year’s Islamic Finance News (IFN) Awards.
The prestigious award, based on peer nominations and expert independent industry analysis, is for the counsel Pinsent Masons provided to Dubai Islamic Bank - one of the top Islamic finance banks in the world - on two separate commodity murabahah facilities provided to Aydin Deniz of USD10 million each. Aydin Deniz, part of the Aydin Group, is a major Turkish marine services operator.
EY’s latest World Islamic Banking Competitiveness Report, states that Islamic banking assets in six key markets are set to exceed USD801bn in 2015, and by 2020, the global Islamic banking industry profit pool is expected to reach USD30.3bn.
The award marks a second year of success for the firm at the IFN Awards. Last year Pinsent Masons won the IFN Mudarabah Deal of the Year Award for the counsel provided to Dubai Islamic Bank on a USD $127 million Mudarabah facility made available to Emirates Central Cooling Systems Corporation (EMPOWER).
Amir Ahmad, a Partner at Pinsent Masons, said: “We are delighted to be celebrating consecutive IFN award wins. The two transactions, totalling USD20 million, reinforce Pinsent Masons’ position amongst the top tier of Islamic Finance legal advisors in the Middle East – and, importantly, help to further Sheikh Mohammed bin Rashid Al Maktoum’s vision to make Dubai the global capital of the Islamic economy.”
Multinational law firm Pinsent Masons has advised DCC Energy, a division of leading international sales, marketing and support services group DCC plc, on the acquisition of WIRSOL Roof Solutions (WIRSOL), a provider of photovoltaic (PV) and battery storage systems.
Multinational law firm Pinsent Masons has advised M Group Services, the leading provider of essential infrastructure services in the UK and Ireland, on its sale to private equity house CVC.
Multinational law firm Pinsent Masons’ partner Sylvia Tonova and senior associate Chloé De Jager have been appointed as Members of the ICC International Court of Arbitration, as representatives for Bulgaria and South Africa respectively. Both new appointments are for a three-year term set to commence on 1 July 2024.
Multinational law firm Pinsent Masons has boosted its global professional services capabilities with the promotion of 22 new partners.
Multinational law firm Pinsent Masons has appointed litigation partner Melanie Ryan to join its Global Investigations team in London.
Multinational law firm Pinsent Masons has appointed partner Nick Tostivin to join its rapidly expanding financial services team in London, where he will lead the Finance team.
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