International legal practice Norton Rose (Middle East) LLP today announced that Mohammed Paracha is to join the banking practice in Bahrain as a partner and deputy global head of Islamic finance.
Mohammed specialises in Islamic financial and banking transactions and has a broad range of transactional experience.
Mohammed joins from Al Salam Bank-Bahrain B.S.C., where he was Executive Vice President and Head of Europe. He previously spent three years in Norton Rose Group’s London banking team before working for two years in the banking team of the Bahrain practice.
Islamic finance and banking will continue to grow and develop; it has the potential to play an important role as the global financial markets adjust to new regulatory requirements and as many Muslim majority countries develop their economies. Mohammed’s appointment further strengthens Norton Rose Group’s Islamic finance presence in the Middle East, following the relocation of Global Head of Islamic Finance Neil D Miller to the Dubai office in 2009 and demonstrates its continuing commitment to the Islamic financial sector.
Jeremy Edwards, group head of banking at Norton Rose Group, said:
“We are delighted to be welcoming Mohammed back to the practice following the success he has had with Al Salam Bank. He brings with him a great deal of valuable experience. He will add further to the depth of our long established Middle East practice”.
Global head of Islamic finance, Neil D Miller said:
“We’ve been active in the Middle East for over 30 years and Mohammed’s appointment to the Bahrain office will add to the strength of our banking and Islamic finance presence in the region.
The local market knowledge and key relationships Mohammed has established in the last few years gives him insight to the priorities of major banks. It’s a perspective that means Mohammed will be a valuable addition to our team in the region, working with our extensive banking and financial institutions client base. I am delighted that Mohammed will be joining us and look forward to him working with me as the Deputy Global Head of Islamic Finance.”
Mohammed Paracha said:
“Norton Rose Group’s international reputation in banking and Islamic finance is second to none. It has been incredibly satisfying to see the group go from strength to strength since I left in 2006, and I am looking forward to playing a part in ensuring that growth continues over the coming years.”
Norton Rose Group has been active in the Middle East since 1979. It has offices in Abu Dhabi, Bahrain, Dubai, and Riyadh (in association with The Abdulaziz Al-Assaf Law Firm). Norton Rose Group’s client base comprises of regional and multinational corporations, financial institutions, government, quasi-government entities and sovereign funds.
Norton Rose Group has a leading Islamic finance practice. Amongst other accolades, it has won the Best Law Firm category in the Islamic Finance News awards for two years running. It has also been awarded regional deal of the year awards by Islamic Finance News for work completed in Bahrain, Brunei, France, Kuwait, Qatar, Turkey, the UK and Yemen, as well as the Ijarah deal of the year. In addition, the group has won the Takaful Law Firm of the Year at the International Takaful Summit Awards, again for two years running.
Chambers Global 2010 ranks Norton Rose Group in the top tier for Islamic finance, saying “This firm has 30 years’ experience on the ground in the region and continues to step up its game by bringing in top partners to act on a growing share of interesting deals.” Legal 500 EMEA 2010 also ranks our Middle East practice in the top tier for Islamic finance, commenting that, “The firm reaps considerable instructions on the basis of its established global reputation in Islamic finance.”
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