Clifford Chance named best law firm in Islamic finance

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In the sector awards, the firm was awarded for its work on the $850m Khazanah sukuk, which received 'Deal of the Year' awards in the Equity and Cross-border categories. The $2.53bn sukuk-al-mudaraba for Aldar received 'Deal of the Year' awards in the Mudaraba and Real Estate categories.

In addition, the $5bn DP World IPO was named 'IPO Deal of the Year', the MTC Telecommunications acquisition of the 3rd Saudi mobile operators license won 'Tawarruq Deal of the Year' and the Dhs7.5bn sukuk-al-musharaka for Jebel Ali Free Zone won 'Sukuk Deal of the Year' and 'UAE Deal of the Year'.

In the country awards, the firm was awarded 'UK Deal of the Year' for its work on the $925m Aston Martin acquisition, 'Djibouti Deal of the Year' for the $263m Doraleh Container Ports financing and 'Egypt Deal of the Year' for the $1.41m financing of the Egyptian Fertilisers Company acquisition.

Qudeer Latif, Head of Islamic Finance for the Middle East, said,

'These awards demonstrate the global strength of Clifford Chance's Islamic Finance practice across all our practice areas. We concluded more than $25bn worth of Islamic finance deals in 2007 across the asset classes. It's a tremendous achievement and an honour for us to be recognised by our clients and peers for our leading practice.'

The awards will be received at a ceremony in Dubai in February.