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International law firm Trowers & Hamlins were announced as winners in three categories at the IFN Deals of the Year Awards 2022.

The IFN Deals of the Year Awards were established in 2006 and recognise those who have participated in the industry's most groundbreaking transactions.

The winning deals are:

  • Mudarabah Deal of the Year was awarded to Oman International Development and Investment Company (Ominvest) for being the first Omani company to issue an shariah compliant perpetual security pursuant to an exchange transaction. Trowers acted as legal counsel for the issue managers, Alizz Islamic Bank and Ubhar Capital on the deal.
  • Perpetual Deal of the Year was awarded to Takaful Oman in relation to its OMR25 million Sukuk. Trowers advised Sohar Islamic, Sohar International Bank on its role as the sole dealer and issue manager, on the establishment of the first-of-its-kind perpetual Sukuk programme established by a Takaful company. This deal was also named as Oman Deal of the Year and has been shortlisted Overall IFN Deal of the Year 2021.

Thomas Wigley, Trowers' Resident Managing Partner in Oman, commented:

"We are thrilled to be recognised with three deal of year awards this year, in addition to being further nominated for the Overall IFN Deal of the Year. These awards highlight the strength of our Oman office and showcase the innovative and groundbreaking client work that we are proud to be a part of, as well as our overall regional market expertise."

Salman Ahmed, Partner in the International Banking and Finance team, added:

"These awards are a testament to the combined effort that has been put into these landmark transactions. Throughout the process our multidisciplinary teams across various offices worked seamlessly together to advise on these deals with considerable support coming from the Banking and Finance team in Kuala Lumpur led by Elias Moubarak."