King & Spalding

This Practice Note sets out how to apply for security in the amount of an arbitral award when there are proceedings challenging or appealing that award under sections 67, 68 and 69 of the Arbitration Act 1996.

This Practice Note covers the features of a typical commodities murabaha arrangement (usually metals traded on the London Metals Exchange) entered into to provide working capital or acquisition financing for the customer. It also considers the distinction with a tawarruq arrangement

This Practice Note discusses the main criticisms of contemporary murabaha arrangements, in particular that most current transactions do not meet all of the established criteria, such transactions do not fit with the goals of Islamic finance and that the transactions simply replicate conventional financing but in a more costly and uncertain manner

This Practice Note considers the factors that have led to murabaha contracts typically being governed by the laws of England and Wales in the UK and the reasons Shari’ah has not commonly been adopted. It also looks at two specific English cases concerning murabaha agreements

This Practice Note covers the structure of typical murabaha documentation and compares the differences between a murabaha agreement and the loan agreement in a conventional transaction. In particular, it considers ‘rollover’ differences, prepayments, conditions precedent and covenants

This Practice Note covers the basic structure and required steps in a typical murabaha (‘cost plus profit financing’) transaction. It also considers the elements that are required for a valid murabaha transaction under Shari’ah

This Practice Note covers the differences between conventional financing and Islamic finance and the relevant provisions under English law.