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Mian Muhammad Nazir Most of Islamic finance products and services, particularly financing transactions, necessitate procuring an insurance cover (Takaful). This is to mitigate certain inherent risks in underlying contracts or structures that cannot otherwise be excluded or mitigated in a Sharia compliant manner. The Takaful model for insurance is based on the principle of mutual cooperation and indemnification. Therefore, Takaful cover can easily be used to mitigate market and credit risks in many Sharia nominate financing contracts, without breaching the mandatory Sharia principles which prohibit exclusion or mitigation of certain risks in such contracts. In some commonly used structures for sukuk and investment products, the proceeds of Takaful cover are the only source of payment for the investors in the event of total loss of the underlying assets. Takaful has a critical role in the growth and success of the Islamic banking and finance industry. Therefore, it is very important that the Takaful industry is capable of satiating the increasing demand for Takaful products that are compatible with the profile of risks intended to be mitigated under various Sharia nominate contracts.

Financial institutions are at the centre of Europe’s incoming OTC reforms. But corporates must prepare too. Here’s how

Paolo Palmigiano, head of competition law at Lloyds and non-governmental advisor to the Office of Fair Trading, outlines why competition law is increasingly becoming a make-or-break factor for M&A deals

David Sola and Jani Gros of global investment bank Houlihan Lokey assess whether the optimistic expectations for M&A activity in 2013 are justified, and what type of deals to expect if the market does stage a come-back this year

There is no doubt that the macroeconomic climate and volatility in global markets continues to impact deal activity. Indeed, despite signs of a recovery towards the end of the year, 2012 was notable for the downward trend in global M&A activity.

Chinese deals are attracting global attention as they spread into a wide range of industries and increase in size. Shanghai-based Patrick Becker, CEO of M&A advisory firm Bexuco, looks at China’s plans to continue its emergence as a key player in global M&A this year

Luís Gustavo Haddad and Bruno Robert of Lilla Huck Otranto e Camargo Advogados explore three past, present and future legal issues affecting M&A deals in Brazil

Andres Hoyos and Ángela Natalia García Arenas of Gomez Pinzon Zuleta highlight some of the recent changes which will encourage further development of the Colombian M&A market

A deal closed by OMG last year has transformed the Dominican market. Here’s how it came together

Tuan Nguyen of bizconsult law unravels the complexities of investing in Vietnam’s fast-moving M&A market