STAT advised The Saudi National Bank and the Saudi Banking Treasury Group, with oversight from the Saudi Central Bank (SAMA), on the development and implementation of Shariah compliant structuring solutions for IBOR migration in Saudi Arabia, including legal frameworks and contractual documentation to support the sector’s transition under regulatory reforms.

STAT advised Al Khair Capital Saudi Arabia Company as Sole Arranger, Dealer, and Financial Advisor on the establishment and CMA approval of a SAR 500,000,000 Sukuk Issuance Programme for Rawasi Al Bina Investment Company, one of the first public Sukuk programmes approved under the updated regulations.

STAT announces the promotion of partners and counsel and the recent hiring of senior attorneys in the Capital Markets and Banking and Finance teams.

STAT Law Firm acted to Morabaha Marina Financing Company in relation to the update of its SAR 400,000,000 Sukuk Insurance Programme (the “Programme”) and its second issuance there under of SAR 80,000,000 Fixed Rate Amortising Sukuk due 2022.