Maples Fiduciary Awarded Deal of the Year in the Islamic Finance News Awards
Maples Fiduciary is delighted to announce it has been awarded the Islamic Finance News (“IFN”) “Ijarah Deal of the Year” for its role in the DIFC Sukuk Limited US$700million Musharaka Fixed Rate Trust Certificate issuance, a sukuk issuance using a DIFC Special Purpose Company (“DIFC SPC”).
The use of DIFC SPCs has increased in both volume and complexity over the past two years and remains the preferred vehicle for the financing and acquisition of local GCC assets. Maples Fiduciary has been involved in a number of these high profile transactions including the first ever DIFC SPC. This included the incorporation of a DIFC SPC for the financing of Dubai’s Salik toll road system and various listed public sukuk issuances.
“Maples Fiduciary’s recognition at these awards is an acknowledgement of our commitment to the region, the DIFC and Islamic Finance”, said Andrew Millar, Regional Head of Fiduciary – Middle East. “We have worked hard to provide a streamlined full service approach to the DIFC SPC incorporation process and provide fiduciary services to both simple local transactions as well as complex transactions.”
The Maples group comprises legal services offered by Maples and Calder and specialised fiduciary, accounting, regulatory compliance and administration services from MaplesFS, through its operating divisions, Maples Fund Services and Maples Fiduciary. The Maples group’s highly qualified teams on the ground in Dubai bring deep industry leadership to MENA-based clients, including Sharia-complaint solutions.
In addition to the “Ijarah Deal of the Year”, the Maples group’s strong performance in the region has been consistently acknowledged. The firm was also awarded the “UAE Deal of the Year,” “Social Impact Deal of the Year,” “Restructuring Deal of the Year,” “Regulatory Capital Deal of the Year,” “Perpetual Deal of the Year,” “Commodity Murabahah Deal of the Year,” and “Best Law Firm – Offshore Finance” by IFN, as well as "Best Fund Administrator – Private Equity" and "Best Fund Administrator – Sharia-compliant Funds" by MENA Fund Manager.