Rustum Shah

Rustum Shah

Partner, Dubai

Email rustum.shah@​

Phone +971 4 377 9377

Fax +971 4 377 9378


Practice groupFinance

'A well-known name in the UAE market, with a broad swathe of Islamic lending experience in the real estate, oil and gas and transport sectors. Sources praise his hands-on approach'

Chambers Global 2015

Having spent 15 years in the Middle East, Rustum brings a wealth of experience to his clients' transactions. He is often the first port of call for borrowers and banks on complex financings. He is a ‘go to’ lawyer for international and local financial institutions, as well as large corporates, undertaking high-end financings in the Middle East and beyond. Advising on trade, asset, real estate, syndicated and corporate finance, Rustum is particularly highly regarded for his Islamic financing knowledge and experience.

Clients regularly comment on Rustum's commerciality, hard work and ability to get the deal done, and he has advised on a number of cutting-edge financings in the Middle East. Rustum is consistently recognised for banking and Islamic finance by Chambers, Legal 500 and IFLR. He is the author of a chapter on 'Islamic Syndications', published in the leading text 'Islamic Finance - A Practical Guide'.

Awards and recognitions


Middle East Islamic Finance
Chambers Global


United Arab Emirates Banking & Finance
Chambers Global


Islamic Finance News Awards Law Poll, Structured Finance

Education and admissions


LL.B (Hons), College of Law, 1997

University of Wales, Cardiff, 1996, Qualified 1999


Law Society of England and Wales

Representative experience

Advising Barwa Bank on a US$125m Islamic facility for UAE-based Topaz Energy and Marine to finance 12 vessels.

Advising Mashreqbank and the banks as the syndication legal counsel, on an AED739m 10 year Ijara re-financing for Emirates District Cooling LLC (Emicool).

Advising EmiratesNBD as the Lead Arranger for a US$226m mezzanine facility for Dubai Aerospace Enterprise.

Advising Samba Financial Group as the Lead Arranger for an AED3.3bn receivables-backed financing for Nakheel.

Advising Dubai Islamic Bank as the Lead Arranger for an AED1.84bn co-ownership facility for Investment Corporation of Dubai.

Advising the Lead Arrangers on a US$171m and €94.5m syndicated murabaha facility for Bank Asya (with a syndicate of 26 banks).

Latest thinking and events

Hogan Lovells Publications

New UAE Companies Law: A Note For Lenders

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