Islamic Finance

Farama & Cos’  integrated Islamic finance practice provides clients with responsive, innovative advice and solutions across the full spectrum of Islamic finance products.
Our Islamic finance lawyers have extensive experience in structuring, documenting and negotiating complex

transactions and developing innovative Shari’ah-compliant techniques, including in relation to Murabaha, Ijara, Wakala, Istisna, Salam, Mudaraba, Musharaka and other structures including Sukuk issues. Our knowledge and insight enable clients to successfully navigate the complexities surrounding these structures. We have built excellent relationships with the leading Islamic banks and Shari'ah scholars.

Whether you are a Shariah-compliant entity, considering financing a project in the Middle East, investing in a Shari’ah-compliant manner or interacting with a Shar’ah-compliant entity for the first time, you need a collaborative partner who is fluent in the principles and values of Islamic finance.
Clients benefit from our significant on-the-ground presence in Iran. Our Islamic finance capabilities span capital markets, banking, project finance, asset finance, restructuring and investment funds.

Our regional Islamic finance team has worked on some of the largest and most high-profile Islamic finance transactions in Iran.

Islamic Banking

Our team offers clients advice on a broad spectrum of banking transactions with a particular focus on large-scale Islamic financings.
The breadth of our expertise in banking-related fields is demonstrated by the calibre of transactions on which we have advised.

Islamic Derivatives and Structured Finance

Our Islamic derivatives and structured finance practice is a market leader and is made up of lawyers from a number of jurisdictions who are both derivatives and structured finance experts and Islamic finance experts. It also benefits from the support and broad expertise of our wider top tier global derivatives and structured finance practice.

Islamic Funds

Our investment funds team regularly advises on the establishment and on-going operation of a wide range of Shari'a-compliant investment funds.
Our investment funds team has developed a range of Shari'a-compliant fund structures across a range of sector including advising on Shari'a-compliant real estate, hedge, fixed income, private equity. We also advise on acquisitions and disposals for, and investments into, Shari'a-compliant funds.

Islamic Taxation

Our Islamic finance taxation specialists have experience of providing a wide range of taxation advice, both on domestic and multi-jurisdictional transactions. We provide a high level of service, whether on a stand-alone basis or as an integral part of the full legal service offered by Farama & Co.

Advising on the tax aspects of Islamic finance transactions requires an appreciation, not only of the Shari'a constraints that are likely to apply, but also of general principles of Iran domestic tax law. Members of our Islamic finance taxation team are also familiar with any relevant legislation or guidelines which have been implemented to ensure that Islamic finance transactions operate in as tax neutral a way as possible.

We advise on a wide range of Islamic finance transactions,  including ijara, istisna'a and murabaha financing transactions, sukuk issuances and securitisation transactions.
Our Islamic Finance Taxation team has also been involved in consultations and discussions with revenue authorities and governments in various jurisdictions in connection with the development of tax legislation and practice aimed at facilitating Islamic finance transactions.

Please contact us: Mr. Vandad Arian
[email protected]

Vandad Arian heads the firm's global Islamic finance practice and has a broad range of experience on project, asset and acquisition finance deals, as well as restructurings. One source said: "He knows the minutiae of what's appropriate under Shari'a law and can also make it user-friendly." Also Vandad Arian has substantial experience of asset and structured finance transactions, as well as Islamic finance structures.


Under what Legal templates the building, operation and transfer (BOT) contracts could be implemented?

BOT Contracts and similar categories such as BOOT, BOO...could be realized through registering the foreign investor’s branch in Iran and/or establishing an Iranian Company (Project Company).

What does property right mean?

By property right, it means the rights emerged by owning assets and properties and/or the rights acquired through contract which has been recognized in foreign investment law and as per the case, it could include ownership right, utilization etc.

What does transfer of property right in BOT plans mean in Iran?

By transfer of property right, it means the rights acquired and gained through the relevant contract, which could be transferred to the Iranian party to the contract.

Mr. Vandad Arian

Managing Director Partner
Director of Litigation & Dispute Settlement Practice Group
Tehran Tel: +98 9121023022
Canada Tel: +1 7786805848
Email: [email protected]

Bar Admissions
-Tehran Uni, Faculty of Law L.L.B
-Shiraz University, Faculty of Law, International Law, LLM
 -Kings College London, Faculty of Law , International Construction Law
Professional Associations and Memberships
-Member of Iranian Bar Association
 -Member of Canadian- Vancouver- Bar Association(Practitioner as a Foreign Lawyer)
Farsi, English

          Tel: +989121023022