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CC Advises KNPC on Clean Fuels Projects
Clifford Chance is advising Kuwait National Petroleum
Company (KNPC) on its multi-billion dollar Clean Fuels
Project (CFP), the first time that KNPC has sought to access
debt markets.
Financing of the first phase of the project was expected to
close in early. The mandated lead arrangers are National
Bank of Kuwait (NBK) and Kuwait Finance House on the
conventional and Islamic finance tranches, respectively.
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www.leap29.com
Legal
Weekly Update
April 15th 2016
A&O, HSF and Hadef Among Contenders for
Corporate Counsel Middle East Awards
Pepsico, Dubai World and HSBC among in-house teams
represented.
The awards, which will take place on 12 May at the Ritz-
Carlton in Dubai, aim to recognise exceptional achievement
by private practice and in-house lawyers working in local and
international companies and law firms.
Click here to read the full article.
Middle East Movers and Shakers
Law firm strategy on how and where to service Middle
Eastern clients varies widely. The last 12 months have
seen a mix of firms withdraw, expand or centralise; while
smaller regional centres are holding their own against the
powerhouse that is Dubai.
With the Middle Eastern economy so reliant on the price
of oil, the downturn in its price has seen an economising
on major project and infrastructure work, as investors
struggle to recoup capital which has been dependent on oil
price. While that has been bad for transactional lawyers,
divestment and the in-completion of projects make for a
healthy diet of disputes.
“We build them and when they start to fall apart, then the
disputes lawyers come in,” one lawyer told CDR.
Click here to read the full article.
Latest Jobs in the Middle East Region
• Senior Banking & Finance Associate - UAE
• Project Finance Lawyer - Bahrain
• Corporate Salaried Partner - Qatar
Find out more by visiting Leap29.com for more
information on these current opportunities.
Oman: Sukuk Regulatory Charter Issued
Oman’s Capital Market Authority has issued a charter
to regulate the issuing of Sukuk (Islamic Bonds) in the
Sultanate.
The charter, which comes into effect today, does not affect
the provisions of the regulations and laws which regulate
foreign ownership of land and real estate property. Issuing
Sukuk for immobile and mobile assets, which are owned by
the Government, is prohibited under the charter.
The Authority’s CEO will issue the asset requirements
against which Sukuk can be issued. Under the charter, they
should be issued in line with Islamic laws and the Authority
can limit the listing and trading of some Sukuk to Omani
nationals only. Sukuks should be issued in Omani Riyals or
any other currency used in Oman.
Click here to read the full article.