Sharkawy & Sarhan Plays Key Role in Securing $150 Million Islamic Financing for Egyptian Financial Institution
Sharkawy & Sarhan, a prominent legal firm based in Egypt, has unveiled its position as the legal advisor for a ground-breaking financial transaction with the International Finance Corporation (IFC). The firm played a crucial role in facilitating an impressive $150 million Islamic Tier II financing for a prominent financial institution operating within Egypt.
The project entails subordinated Murabaha financing provided to Abu Dhabi Islamic Bank Egypt (ADIBE). This Tier 2 capital instrument is strategically designed to enhance diversity within the Bank’s capital base and foster long-term growth prospects.
Led by Banking & Finance Partner Ahmed Haggag, the dedicated team at Sharkawy & Sarhan worked assiduously to ensure the successful execution of this noteworthy financing arrangement. With valuable support from Associate Raghda ElQabbage, their exceptional expertise and legal acumen played a vital role in navigating the intricacies of the transaction and securing the substantial $150 million funding for the financial institution.
The International Finance Corporation stands as the largest global development institution with an exclusive focus on the private sector in developing countries. Founded in 1956, IFC operates as a member of the World Bank Group, with its headquarters based in Washington, D.C. Operating in over 100 countries, IFC utilises its expertise and resources to generate opportunities in areas where they are most needed.