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Dr. Walid Hegazy
Managing Partner | whegazy@hegazylaw.com

Dr. Walid Hegazy has over 20 years of legal experience representing and advising clients on transactions and disputes involving the commercial laws and regulations of many Middle East countries, including: Egypt, UAE, the Kingdom of Saudi Arabia, Qatar and Libya.

Dr. Hegazy’s main areas of expertise include, Islamic banking and finance, project financing, corporate restructuring and corporate governance. Dr. Hegazy has SJD (Doctor of Juridical Science) and LLM degrees from Harvard Law School in Cambridge, Massachusetts.

Representative Transactional Experience:

  • Advising One of the bidding consortiums in connection with the public schools project tendered by the Ministry of Finance and the General Authority of Educational Building
  • Advising BNP Paribas on a €7.2 billion facility providing for the financing of the acquisition by Lafarge, the world’s biggest cement maker, of Orascom Building Material Holding, Egypt;
  • Advising Saudi Telecom Company (STC) on its US$3.05 billion acquisition of a 25 per cent interest in the telecoms operator Maxis (Malaysia) and a 51 per cent interest in the telecoms operator NTS (Indonesia);
  • Advising Sorouh in connection with its US$1 billion Mudaraba-based Sukuk issue in the UAE;
  • Advising a major Saudi real estate investment group in connection with a SR1 .2 billion Murabaha facility;
  • Advising a major Saudi real estate developer in connection with structuring and documentation of Shari `ah-compliant facilities for the financing of a mix use real estate project in Mecca;
  • Advising Credit Suisse on a US$1.2 billion lease-backed securitization based in the Kingdom of Saudi Arabia, in which Walid developed an innovative Shari `ah-compliant structure based on the Islamic contract of Hawala (assignment of debt);
  • Advising STC on a US$950 million Musharaka-based Sukuk issuance as part of the Maxis and NTS Project;
  • Advising STC on a US$450 million Murabaha-based structured commodity facility
    provided by Al Rajhi Bank for the financing of a major M&A Project;
  • Advising The Government of the Kingdom of Saudi Arabia on developing Shariah-compliant structures for the financing of infrastructure projects; and
  • Advising Saudi British Bank (SABB) on structuring its model Murabaha agreement.

Publications:

  • “Islamic Liability Rules (Daman) in the Practice of Contemporary Islamic
    Finance”, Wisconsin International Law Journal – Forthcoming 2008.
  • “Shariah Compliant Private Equity Investment”, Financier Worldwide – April 2008.
  • “Contemporary Islamic Finance between Socio-economic Idealism and
    Formal Compliance”, Chicago Journal of International Law – 2007.
  • “The Regulation of Islamic Banks in the New Iraq”, Chapter 17 of Iraqi Constitutional Studies: Basic Principles for the New Iraqi Constitution, DePaul University College of Law, in cooperation with the American Bar Association, Chicago. A compilation of legislative proposals presented to the Iraqi Constitutional Committee in the summer of 2005.
  • “Fatwas (Shariah opinions) and the Fate of Islamic Finance: a Critique of the Practice of Fatwa in Contemporary Islamic Financial Markets”, Islamic Finance Project, Harvard Law School – 2005.
  • “Islamic Finance in Malaysia – A Tax Perspective”, 3 NO. 10 Asia-Pacific Tax Bulletin, Amsterdam- 1997.
  • “Banking: The Current Landscape in Egypt”, co-author with Clyde Mitchell, 215 No. 54 N.Y. L.J., New York – 1996.
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