In recent years, Islamic finance and investment has undergone a huge expansion, partly driven by the oil-driven financial liquidity in the Gulf and by the fast-growing number of Muslims seeking more religiously sanctioned products. Not only has the Islamic financial world swelled dramatically in size, but it has also become the forum for financial innovation. The industry has grown with scores of new participants, including both Muslim and non-Muslim issuers, investors around the world, and a host of major western financial institutions. As a truly global firm, K&L Gates is positioned to advise clients where Islamic structures intersect with international and national laws.
It is estimated that in excess of $500 billion of assets are managed according to Islamic principles, and more than 280 institutions — ranging from commercial to investment banks and investment funds — provide Islamic products. Islamic financial services are now evolving from a niche market to the mainstream. The new demands for the recycling of capital flows have been met with innovation in the provision of Islamic financial products, offering ingredients for a larger-scale industry. The practice areas of the firm — corporate and transactional, financial services, real estate, regulatory, intellectual property, and litigation — give a broad range of proficiency on which clients in this field can draw.
Our Islamic Finance and Investment group offers clients services across the full spectrum of legal issues affecting businesses with a need in this area. Lawyers in the group are spread across the Middle East, London, Hong Kong, and ten U.S. cities to give truly global coverage. Chambers says 'This team earns praise for its "excellent" advice, with one interviewee stating: "They understood the transaction structure and how to handle everything." The firm has a significant network of offices across the world, and has a noteworthy practice founded on funds transactions.' (Chambers UK 2013) and the Legal 500 calls the firm's practice ‘very competent and professional’ (Legal 500 UK 2012).