Middle East and Africa

In one of the first musharaka sukuks (joint ventures) of its kind, Denton Wilde Sapte advised Standard Bank and Dubai Islamic Bank in a deal with Dubai Metals and Commodities Authority (DMCC). The deal gave the investors the opportunity to receive periodic payments in gold bullion instead of cash for the first time in a public Islamic finance capital markets transaction. DMCC was advised by Afridi & Angell on Dubai law and by Freshfields Bruckhaus Deringer regarding English law.