Denton Wilde Sapte has hired Islamic finance specialist ;Muddassir Siddiqui as a partner and head of its Islamic finance practice in the Middle East.
Siddiqui, who will be based in the Dubai office, joins from the Islamic Development Bank in Jeddah, Saudi Arabia, where he was senior counsel and internal sharia supervisor on developing sharia-compliant products.
He told The Lawyer: “I thought this was a good time to go into private practice.
The finance slump is ;temporary. ;Islamic finance isn’t going to be as badly hit as the finance sector in general. The absence of derivatives has saved Islamic banks from the same level of exposure, while high oil prices have added to levels of liquidity.
“Dentons has a long history ;of ;showing commitment to the Middle East – it’s not just there because of the recent boom.”