DC partner John Vogel gets ranked in the category of Islamic Securitization and Structured Finance in Islamic Finance News' Leading Lawyers Summer 2009 issue. Also included is his article "Securitization and Shariah Law."
Following the dramatic growth of securitized financings during the past 15 years, the global economic collapse of 2008-2009 brought an abrupt end to these types of transactions, both in the Middle East and North Africa (MENA) region and the West. For the first time, there are defaults in the Islamic Sukuk market — most notably East Cameron Bay Partners and Investment Dar Company.
As recovery is seen in the economies of the Middle East, as well as those of the West, there is likely to be a substantial increase in governmental regulation of the financial sector, including a greater level of standardization, harmonization and transparency.
Reprinted with permission from Islamic Finance News.