This sector requires satisfying both SAMA's conventional regulatory framework and Sharia compliance requirements simultaneously, a genuine specialty distinct from conventional finance work, and this dual requirement shapes everything from initial structuring through ongoing compliance in ways that don't arise in standard banking practice.
We built this dedicated practice specifically because Islamic finance work genuinely differs from adapting conventional finance with different terminology — it requires understanding both frameworks deeply and structuring products that satisfy each on its own terms.
Murabaha financing, structured around a cost-plus sale rather than interest-bearing lending, requires careful documentation that genuinely reflects the underlying asset transaction rather than functioning as interest-bearing debt with Islamic terminology layered on top.
We help clients structure murabaha arrangements that satisfy both commercial financing needs and genuine Sharia compliance, not just documentation that uses the right words without the right substance.
Ijara, the Islamic leasing structure, requires attention to how ownership, risk, and maintenance responsibility are allocated between lessor and lessee in a way that satisfies Sharia principles around genuine risk-sharing rather than pure financing disguised as a lease.
We structure these arrangements for both equipment and real estate financing, ensuring the underlying structure holds up to genuine Sharia scrutiny.
This connects closely with our Capital Markets & Securities service within Corporate & Commercial, and sukuk — Islamic bonds structured around asset ownership rather than debt — require coordination between finance-specific Islamic structuring and standard capital markets regulatory requirements.
We help issuers structure sukuk that satisfy both dimensions, from initial structuring through the actual issuance process.
Takaful operates on a cooperative risk-sharing model genuinely distinct from conventional insurance, and structuring or reviewing a takaful product requires satisfying both SAMA's regulatory requirements and Sharia board approval, coordinating closely with Sharia scholars where a product needs specific religious sign-off.
We help takaful operators navigate this dual compliance requirement as one coherent process rather than two disconnected approval tracks.
Nearly every Islamic finance product ultimately requires Sharia board approval, and we help clients prepare documentation and structural explanations that genuinely address what a Sharia board will actually scrutinize, rather than assuming conventional legal documentation alone suffices.
This coordination considerably smooths the approval process compared to submitting documentation that wasn't prepared with Sharia board review specifically in mind.
Where a dispute arises around an Islamic finance structure, resolving it requires understanding both the underlying commercial relationship and the specific Sharia-compliant structure it was built around, since a generic commercial dispute approach can miss considerations that genuinely matter here.
We coordinate with our Disputes & Litigation practice where formal proceedings become necessary, ensuring this specialized understanding carries through.
Message the firm on WhatsApp to discuss your structure, whether that's murabaha, ijara, sukuk, or takaful.
We can typically outline the relevant considerations within the same conversation.
It's a dedicated service — Islamic Finance & Takaful within our Finance, Banking & Tax practice, reflecting the distinct Sharia-compliance framework this work requires.
Yes — this connects closely with our Capital Markets & Securities service within Corporate & Commercial.
Murabaha is structured around a genuine cost-plus sale of an underlying asset, not interest-bearing debt — the documentation needs to reflect this real transaction, not just use different terminology.
We coordinate closely with Sharia scholars where a product needs specific religious sign-off, treating this as one coherent process rather than two disconnected tracks.
With genuine attention to what a Sharia board will actually scrutinize, not just conventional legal documentation — this considerably smooths the approval process.
Expert Riyadh