Streamlining Financial Conversion

Introduction
We are proud to showcase our expertise in establishing an orphan trustee structure to facilitate the conversion of a significant US$2bn+ loan book from conventional to Sharia-compliant financing for a leading Middle Eastern bank.

Background
This prominent financial institution in the Middle East embarked on a transformative journey to convert their loan book from conventional to Sharia-compliant financing. Recognising the complexities of this undertaking, they sought Yasira's transactional expertise to navigate the intricate process efficiently.

Challenges
Converting a loan book of this magnitude while ensuring compliance with Sharia principles presented several challenges. Key challenges included:

• Tight Timeframes: The bank required a swift transition to maintain operational continuity.
• Establishment of Trustee Structure: The need for a new trustee structure to manage the converted loan book.
• Conversion Timeline: Completing the loan book conversion within a defined timeframe was critical.

Solution
Yasira provided a tailored solution that addressed their specific needs:

• Rapid Onboarding: We onboarded the bank as a new client and established the necessary trust structure in record time.
• SPV Establishment: An underlying Bahraini Special Purpose Vehicle (SPV) was swiftly established following the creation of the trust.
• Efficient Conversion: Our team executed the conversion of the loan book with remarkable speed and precision.

Results
Through Yasira's expertise, the bank achieved outstanding results:

• Swift Onboarding: The bank was seamlessly onboarded, and the trust structure established in an impressive number of days.
• Efficient SPV Establishment: The Bahraini SPV was set up promptly, ensuring the conversion process proceeded without delays.
• Timely Conversion: The entire loan book conversion was successfully completed within a remarkably short period, maintaining the bank's operational efficiency.

Conclusion
Yasira's transactional expertise played a pivotal role in helping the bank navigate the conversion of their substantial loan book to Sharia-compliant financing. Our ability to deliver maximum efficiency within tight timeframes exemplifies our commitment to facilitating complex financial transformations.

The bank's satisfaction with our services has led to requests for Yasira's assistance in similar transactions in other countries, further solidifying our position as a trusted partner in complex financial conversions.

Continuing to collaborate with Yasira for similar transactions in various countries will enable the bank to navigate future challenges with confidence. Exploring opportunities for further enhancements and innovations will further streamline their processes and ensure continued success.

Testimonial
"Yasira's expertise in financial conversion was delivered with remarkable speed and efficiency. We are delighted with the results."