We acted as lead counsel for Dublin-based Blue Ocean Wireless Ltd with respect to the US$25 million Sharia’a compliant structured trade finance facility from Bank of London and The Middle East plc (BLME), a Sharia'a-compliant wholesale bank based in the City of London.

Sharia'a financing is a form of ethical banking based on the principles of Sharia'a law. This Sharia'a financing deal reflects the growing appeal that Sharia'a finance has in the Irish and global market.

We are recognised in Ireland for our capability in advising on Sharia'a compliant transactions, having also advised Gulf Sovereign Wealth Funds and on several other global Sharia’a compliant deals.

For further information please contact the Banking and Financial Services Group.

October 2008.