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Clifford Chance

Financial Services - Islamic finance 2009

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Rankings at a glance
Award levelHighly commended
InnovationA huge Shari'a compliant securitisation in challenging economic circumstances
Originality7
Rationale7
Impact6
Total20
DescriptionThe firm used a 500 year old Shari'a structure, the Mudaraba, as an investment trust. Making it renewable on a monthly basis ensured that capital could be returned and then reinvested. Recognised as both fully Western and Islamic