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Banking, Securities and Insurance Legal Practice

Banking, Securities and Insurance Legal Practice

Our “Banking, Securities and Insurance Legal Practice” advises BHC clients in all areas of the local banking, securities, and insurance sectors; including Islamic banking and Shari’a/Islamic law-compliant financial transactions and instruments--under Iraq’s legal and regulatory regimes.

We advise and assist clients on the requirements and procedures for registering, licensing, and ensuring the ongoing operational regulatory compliance of local banks, securities firms, and insurance companies; and on related activities and complex matters--including on matters of Iraqi sovereign guarantees.

We advise particularly banks, project sponsors, and all-sized corporate entities on a variety of banking matters and associated financial operations; including bank loans, credits and syndications, project and import financings, mergers and acquisitions, restructurings, recapitalizations, workouts, asset-based lending transactions, real estate funding arrangements (and trusts), structured trade, commodity and investment-grade financings, mortgages, and related banking transactions--including issuance of letters of credit and bank guarantees for both imports and exports. We also advise on the legal and regulatory requirements for establishing and mass-marketing in-country core retail banking, investment, and ancillary services. And we have advised the Central Bank of Iraq (“CBI”) on complicated legal and policy matters involving its monetary reserves.

Based on a thorough understanding of the legal, regulatory, and policy issues specific to Iraq’s Stock Exchange (“ISX”), and the attendant political, economic, and risk environs, we also advise clients on ISX registrations and listings, and on the full range of local brokerage, equity, and debt transactions; including local equity and debt offerings (stocks and bonds), securitization, investment funds, and local law-compliant corporate and investment funds (and trusts). We assist clients in structuring their transactions to achieve their objectives; and we represent them, as necessary, before the ISX and Iraq’s Securities Commission.

We advise clients on local insurance-sector legal, regulatory, and policy matters.

We possess the necessary Islamic law expertise, and maintain relationships with local Shari’s scholars, so to advise and assist clients in structuring, documenting, and negotiating Islamic law-compliant finance transactions; including Sukuk (Islamic bond) and Murabaha (Islamic credit sale) transactions. Our expertise covers Shari’a-compliant securitization, project finance, asset acquisition, and real estate finance; and our international project finance experience enables us to address issues arising from integrating local Islamic law finance structures into multi-nationally-sourced project financings (including public-private partnerships).

We equally assist clients in negotiating project, loan, guarantee, and insurance agreements and related contracts, and advise them on local law and policy issues, concerning structural and sectoral projects, asset purchase financings, guarantees, and risk insurances by multilateral, regional, and bilateral financial institutions; including the World Bank (IBRD and IDA), International Finance Corporation, Multilateral Investment Guarantee Agency, European Bank for Reconstruction and Development, Islamic Development Bank, Australia’s Export Finance and Insurance Corporation, France’s Compagnie Française d’Assurance pour le Commerce Exterieure, Germany’s Euler Hermes Kreditversicherungs-AG, Italy’s Servizi Assicurrativi del Commercio Estero, Japan’s Bank for International Cooperation and Export-Import Bank, Russia’s Export Insurance Agency, Switzerland’s Export Risk Insurance Company, Turkey’s Export Credit Bank, United Kingdom’s Export Credits Guarantee Department, United States’ Export-Import Bank and Overseas Private Investment Corporation, and Iraq’s Economic Development Fund.