In the modern world, Banks play a crucial role in the day to day activities of business entities and individuals. Banking basically is a business activity of accepting money as deposits and lending out money as loans of various kinds. The money deposited could generally be withdrawn using Cheques.
These days Banks are not merely offering the above traditional service and Bank’s services include issuance of debit and credit cards, ATM services, Internet banking and facility for Online transfer of funds across the world, Mobile Banking, Currency exchange management, Provide Bank Guarantees and Letters of Credit Services, merchant banking etc.
The Banking system keeps the economy’s growth engine lively. The banks perform financial intermediation by pooling savings and channelizing them into business investments.
Receiving interest or “riga” is not permitted in Islam. Islamic banking is a banking system that is based on the principles of Shariah law. Two basic principles underlying Islamic banking are the sharing of profit and loss and the prohibition of the collection and payment of interest by lenders and investors.
In UAE there are a number of Islamic Banks. Commercial Banks also offer Islamic Banking Window operations.
Our Banking and finance team offers the best banking consultancy services in UAE. Our team is dynamic and very experienced with expertise in both commercial Banking and Islamic Banking. They are well versed and updated with all the relevant Banking Laws and practices.
We offer legal services related to all bank dealings and transactions including vetting of various banking contracts, security documents and consortium lending documents; title scrutiny and issues related to real estate mortgages; hypothecation; guarantees; letters of credit and other credit facilities; debt restructuring; legal audit and due diligence etc. .
Our Lawyers are vastly experienced and proficient in banking litigation, both in enforcement and defense.
Our Banking and finance Lawyers have expertise in Money Laundering and Foreign Exchange Management Laws and other financial Laws.