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11 Dec 2023

Stephenson Harwood wins 'Banking & Finance Team of the Year' award

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Law firm Stephenson Harwood has been awarded 'Banking & Finance Team of the Year' at the Oath Middle East Legal Awards 2023.

These awards recognise professionals in the legal sector, both in-house and in private practice, who have demonstrated exceptional expertise, innovation and noteworthy contributions to the region throughout the year.

The Dubai-based banking and finance team, led by global head of Islamic finance Rustum Shah, received this award in recognition of their role advising on several significant transactions in the region over the last 12 months, supporting many major conventional financial institutions, Islamic finance entities and borrowers on complex and strategic transactions spanning leveraged/acquisition finance, syndicated financing, trade finance and project finance.

The notable mandates include advising a sustainable energy business on a multi-million-dirham debt refinancing transaction with a leading Middle Eastern bank, a significant milestone as the first of its kind in the region; advising one of the largest Islamic banks in the UAE on its first transaction under Standard Number 59 regarding the Sale of Debt (Standard 59); advising a leading UAE bank on a AED62 million facility to a Dubai-based solar power company for the development of operational solar power generation projects; and advising an Islamic bank on the reprofiling and restructuring of Istisna and Ijara facilities provided to an international investments company.

Rustum said, "I am honoured to receive this award and to have the privilege of leading such an exceptional team. I would like to extend my gratitude to our clients for their continued trust and a huge thank you to my colleagues for their dedication over the past year.''

The Dubai-based banking and finance team advise on the full spectrum of banking and finance products. Their expertise spans acquisition financing, project finance, asset financing, refinancing and restructuring, Islamic finance and general bank lending including syndicated, structured, trade, and leveraged finance.

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