Allen & Overy LLP fields a full-service Islamic finance offering from its London office, which is complemented by a strong network of offices throughout the Islamic world, including an association firm in Saudi Arabia. Functioning as a part of the firm's wider banking and capital markets practices, the Islamic finance team is regularly involved in cross-border project finance, commercial lending and structured finance mandates. Of recent note, the team has been especially active in the Saudi market, acting for clients such as the Saudi Electric Company and the Kingdom of Saudi Arabia. The European Islamic finance group is headed by Atif Hanif, who has expertise in bank finance and capital markets deals, and is widely recognised as a leader in the Islamic finance world.

Ashurst is best known for its expertise in shari'ah-compliant structured products, both in the bank lending space and in the global capital markets. The practice group also has experience of structuring Islamic investment funds, and is a market pioneer of sorts in the areas of Islamic fintech and blockchain. Headed by the 'very experienced' Abradat Kamalpour, the team has been increasingly involved in assisting conventional financing bodies with the development and implementation of Islamic structures as a method of diversification. In addition, the firm's Saudi Arabian association has been invaluable in securing high-value project finance mandates.

Acting in conjunction with its extensive global network, which includes a strong presence throughout the GCC, Dentons is instructed by a litany of Islamic and conventional banks, which it advises on real estate finance transactions and a range of capital markets mandates. In particular, the team has noted expertise in Islamic structured finance, an aspect of the practice that was further strengthened in 2019 by the arrival of Yusuf Battiwala, who joined the firm from Allen & Overy LLP. The London-based team works especially closely with its colleagues in Dubai and Abu Dhabi. Matthew Sapte heads the wider banking and finance practice.

The Islamic finance offering at Norton Rose Fulbright cuts across the firm's practices in project finance, ABS and capital markets, investment funds, and real estate finance. Although the team has noted a drop in sukuk redemption, it has picked up steady streams of work in real estate finance throughout Europe and the UK, and has reported increased activity in project and trade finance emanating from Indonesia and various African jurisdictions. Also of note, the team has recently been involved in the development of certain Islamic blockchain products. The Islamic finance practice is headed by Farmida Bi, who chairs the firm's EMEA group and specialises in shari'ah-compliant capital markets transactions.

Foot Anstey's Islamic finance group is heavy focused on the London real estate market, where it acts for a variety of Middle Eastern financial institutions and domestic banks with significant shari'ah-compliant activities. Despite any uncertainty in the UK property market, the team has noted a stable appetite for Islamic real estate structures and has also seen rapid growth in investment not only from the Middle East, but also from Malaysia. In addition, the firm is seeking to increase its work for Saudi Arabian investors and as such it finalised an alliance with a domestic Saudi firm in late 2018. Imam Qazi heads the Islamic finance group and is highly regarded among his peers.

K&L Gates LLP's Islamic finance group is perhaps most recognised for its strength in Doha and Dubai, though the London-based team plays a key role in the practice group, particularly when it comes to cross-border aviation finance, real estate finance involving UK properties, and deals involving hybrid investment platforms. Further, the cross-office practice group has experience of restructuring mandates with shari'ah-compliant debt. A key figure in the team is Barry Cosgrave, who divides his time between the firm's London and Dubai offices.

The London outfit at Trowers & Hamlins LLP is a key part of a globally integrated Islamic finance group, which spans the firm's UK, Middle East and southeast Asia offices. On the ground in London, the practice group specialises in real estate acquisitions and development finance, involving both high-end residential and commercial property. Sarah Gooden has handled shari'ah-compliant property investments and financing for UK Islamic banks, and Middle Eastern and Malaysian financial institutions.

White & Case LLP is known worldwide for its deep involvement in emerging markets across the globe. In addition, the firm is active in some of the GCC's more sophisticated financial jurisdictions, where the cross-office Islamic finance team has advised on the development of shari'ah-compliant debt finance instruments. Though the team is primarily based in Dubai, the practice group fields lawyers in London and also maintains an association relationship in Turkey. Debashis Dey is a key contact working across London and the Middle East.

Clifford Chance LLP's Islamic finance team is spread primarily across the firm's Dubai and Abu Dhabi offices, though the London office has also played a role in the firm's wider Islamic finance offering. Contacts in London include Leonard Cleland and Habib Motani , who moved into a consultant role in 2019.

Druces LLP's banking and property finance lawyers advise a number of Islamic banking institutions in real estate and acquisition finance transactions. Headed by Christopher Axford, the group also acts for Middle Eastern investors in property investment deals. It recently enhanced its Middle East-facing private client practice with the recruitment of Matthew Duncan from Kingsley Napley LLP. Duncan acts as a consultant in the team and is one of the market's only English qualified lawyers who is authorised to advise on estate planning in the DIFC in Dubai.

Fladgate LLP's funds, finance and regulatory practice group has experience of shari'ah-compliant real estate finance transactions and also handles taxation and restructuring mandates involving Islamic financing structures. The team sees the bulk of its activity in the UK property market, where it has advised conventional and Islamic lending banks on the development of shari'ah-compliant financing products. The group also has experience of advising Islamic investment offices on property acquisitions. Ella Leonard is a name to note.

As part of its asset finance practice, Hogan Lovells International LLP provides shari'ah-compliant financing and transactional advice to banks and specialty aviation finance groups. The team's deal work spans the aviation and maritime sectors and often involves shipowners and commercial and cargo airlines in the Middle East. The asset finance practice is led by Robert Fugard, while senior associate Faraz Naqvi advises on many of the group's Islamic financing deals.

Milbank's London office houses a couple of lawyers with notable Islamic finance capabilities, who as a team make up a key part of the firm's project finance practice throughout EMEA and into Asia. In particular, the team has experience of multi-source financing transactions in the context of natural resources and infrastructure developments, which have often involved Islamic institutions and export credit agencies. John Dewar is recommended.

Shakespeare Martineau LLP is well known in the UK Islamic finance market, where it regularly advises family partnerships and Islamic banks on property refinance and development finance deals. Of particular note, the firm has been among the market leaders in the implementation of Islamic structures for use in retail mortgages. Led by Mohammed Saqub, the team has a strong longstanding relationship with Al Rayan Bank, and has continued to expand its work, having recently taken on Gatehouse Bank as a client in the retail mortgage space.

Working in conjunction with its Middle East offices and its Saudi association firm, Shearman & Sterling LLP's London finance group handles Islamic bond issuances, secured lending mandates and conventional finance matters for major GCC corporates and investors. The practice group is particularly active for Saudi-listed corporates including real estate and infrastructure developers and natural resources companies. Key contacts include Iain Goalen, 'a very good all-round finance lawyer'.

The banking group at Taylor Wessing LLP has experience of handling shari'ah-compliant components of larger real estate finance and commercial lending deals. The firm also has lawyers based in the Middle East with expertise across a range of Islamic products including Islamic bonds. Jonathan Marks is a key figure in the debt finance group.