Bin Shabib & Associates has become the first United Arab Emirates-based law firm to set up shop in the Dubai International Finance Centre (DIFC).
Bin Shabib is one of a plethora of law firms that have opened in the DIFC, a financial free zone with its own regulatory regime.
Rashid bin Shabib, joint managing partner, said: “To get a licence for the DIFC, we had to comply with its rules and regulations, which are very strict. We believe that positioning ourselves alongside international firms is good for our business.”
Bin Shabib was established five years ago when Rashid and co-managing partner Jimmy Haoula left Clifford Chance to set up their own practice. The 35-lawyer firm also has a second operation in Abu Dhabi.