Banking, Securities and Insurance Practice 2017-11-12T22:57:44+00:00

Banking, Securities and Insurance Practice

The BHC “Banking, Securities and Insurance Practice” advises clients in all areas of the local banking, securities, and insurance sectors, including on matters of 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 plus the related activities and complex issues, such as matters of Iraqi sovereign guarantees.

BHC provides specific advice on banks, project sponsors, and all corporate entity structures on a variety of banking matters and associated financial operations, including bank loans, credits and syndications, project and import financing, 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 the issuance of letters of credit and bank guarantees for both imports and exports. We also advise on the legal and regulatory requirements for the establishment and mass-marketing of in-country core retail banking, investment, and ancillary services. In addition, we have previously 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 the Iraqi Stock Exchange (“ISX”), and the attendant political, economic, and risk environs, we also advise clients on ISX registrations and listings, as well as 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 the Iraqi Securities Commission.

BHC is capable of advising clients on local insurance-sector legal, regulatory, and policy matters. [AD: please add more descriptions of BHC work with insurance]

We at BHC possess the necessary Islamic law expertise, and to this end we develop and maintain relationships with local Shari’a scholars in order to better 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. Our international project finance experience enables us to address issues arising from integrating local Islamic law finance structures into multi-national-sourced project financing (including public-private partnerships).

We equally assist clients in negotiating project, loan, guarantee, and insurance agreements and related contracts, frequently advising them on local legal and policy issues concerning structural and sectoral projects, asset purchase financings, guarantees, and risk insurances by multilateral, regional, and bilateral financial institutions such as the following: