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Islamic Finance and Banking

Practice

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Call: +966 (0)12 6503 - 400/494

MAK is a leading law firm in Saudi Arabia, providing comprehensive legal services with a strong focus on Shariah-compliant solutions in the banking and finance sector. The Founding Partner of MAK, Mr. Sharif Akkad, previously served in the legal department of the National Commercial Bank (NCB), where he specialized in Islamic finance, non-conventional banking transactions, and a wide range of other banking legal matters. Mr. Sharif has a wealth of experience and guidance the firm continues to excel in providing innovative Shariah-compliant legal solutions for both local and international corporations and banks. MAK is proud to be one of the few law firms in Saudi Arabia at the forefront of pioneering Shariah-compliant legal services in the private sector and commercial banking industry.

Services provided by MAK

  1. Advising on the relevant banking laws, regulations and rules;

  2. Advising on the relevant laws, regulations and rules to open and administrate corporate bank accounts;

  3. Preparing and advising on escrow account agreements;

  4. Preparing and advising on pledge agreements;

  5. Preparing and advising on assignment of receivables agreements;

  6. Preparing and advising on loan agreements;

  7. Advising on credit facility agreements;

  8. Preparing and advising on “Mudarabah” agreements;

  9. Preparing and advising on “Murabah” agreements;

  10. Preparing and advising on “Tawarak” agreements;

  11. Preparing and advising on “Istisna’a” agreements;

  12. Preparing and advising on promise to sell letters “Wa’ad ALBa’a”;

  13. Preparing and advising on “Ba’a Mawasoof Falzamah”;

  14. Preparing and advising on Islamic lease agreements “Ejar Mantahi Baltamleek”;

  15. Preparing and advising on “Ejar Mawasoof Falzamah”;

  16. Preparing and advising on Islamic letter of credits,

  17. Advising on Islamic bonds Sukuk;

  18. Advising on asset finance;

  19. Preparing and advising on novel; and

  20. Preparing and advising on Islamic letter of credits.

Completed and ongoing projects

Our firm has advised numerous clients in the field of Islamic finance and banking transactions. Our extensive experience includes, but is not limited to, the following:

  1. MAK prepared a promise to sell “Wa’ad ALBa’a” (as an innovative S­hariah-compliant legal solution in private sector) for the units and offices of the Head Quarter Business Park Tower (“HQBP”). The HQBP is the largest business tower in the Western province and a landmark in Jeddah with an estimated value in excess of 2.25 bllion SAR (600 mllion USD).

  2. MAK prepared and advised on an Islamic Lease Agreement “Ejar Mantahi baltamleek” for a reputable Saudi company to develop a real estate project with an approximate value of 300 million SAR (80 million USD).

  3. MAK prepared and advised on “Ejar Mawasoof Falzamah” for a reputable shopping mall in Saudi Arabia with an approximate value of 400 million SAR (107 million USD).

  4. MAK advised one of the largest Islamic Finance banks in Malaysia, and conducted a legal due diligence in respect of a term financing facility guaranteed by a Saudi entity with an amount exceeding 113 million SAR (30 mllion USD). 

  5. MAK advised on one of the largest Islamic finance transactions by “Mudarabah” in connection with the Second GSM Licenses in Saudi Arabia for NCB with a value exceeding 11 billion SAR (2.93 billion USD). 

  6. MAK advised on the Mudaraba, Murabah, Tawarak, Ejar Mantahi Baltamleek agreements.

  7. MAK advised one of the world’s most renowned banking chains on a comprehensive legal due diligence questionnaire related to the Saudi Negotiable Instruments Law and various banking matters in Saudi Arabia.

  8. MAK advised one of the largest airline companies in Saudi Arabia on a Credit And Account Charter Agreement with a value of 472 million SAR (114 bllion USD).

  9. MAK’s founding partner Mr. Sharif Akkad, during his work in NCB advised on transferring of “Tawarak” into the local Saudi market for the NCB with an approximate value of 10 billion SAR (2.67 bllion USD). 

  10. MAK advised the UAE branch of one of the largest Egyptian banks, addressing the relevant laws, regulations, and rules of the Capital Market Authority (CMA) and other applicable legal frameworks in Saudi Arabia.

  11. MAK advised a Saudi company in connection with Islamic bonds (Sukuk) and its implementation in Saudi Arabia.

  12. MAK advised the Axis Bank Limited in connection with the relevant laws, regulations and rules of Saudi Arabia including advising on escrow account agreements and assignment of receivables agreements.

  13. MAK advised a Saudi joint-stock company in respect of a Credit Facility Agreement concluded with a Saudi bank with an approximate value of 450 million SAR (120 million USD).   

  14. MAK advised a reputable international bank in connection with assignment of receivables agreements and the implementation of Promissory Notes as per the relevant laws, regulations and rules of Saudi Arabia.  

  15. MAK advised a reputable Saudi closed joint stock company in connection with corporate banking and personal grantees with an approximate value of 300 million SAR (80 million USD), and the right of the bank to implement them. 
      
  16. MAK advised a reputable international bank in connection with pledge agreements as per the relevant laws, regulations and rules of Saudi Arabia.  

  17. MAK advised a reputable Saudi joint-stock company in respect of a loan agreement concluded with a Saudi bank with an approximate value of 250 million SAR (66.7 million USD), and the right of the bank to implement them.  

MAK is a Saudi full-service law firm that has been providing bilingual multi-jurisdictional, quality and dependable legal services in KSA since 2004

Contact Info

Tell : +966 (0)12 6503-400/494
Fax: +966 (0)12 6503-191

mak@maklawfirm.net

Address

Al-Sultan Center
3rd floor
office # 304 Madinah Rd, Jeddah, Kingdom of Saudi Arabia

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