Corporate & Commercial Law
Commercial contracts, shareholder arrangements, corporate governance and transactional support for companies at every stage of growth.
- Contracts
- Governance
- Transactions
Sirat Legal advises Nigerian founders, SMEs and investors across company formation, fundraising, intellectual property, data privacy and Islamic finance — practical advice, delivered at the pace your business moves.
One firm for the legal work a growing business actually needs — from incorporation and trademark registration through to your next funding round, with dedicated intellectual property and creative economy counsel.
Commercial contracts, shareholder arrangements, corporate governance and transactional support for companies at every stage of growth.
Cap table design, SAFEs and convertible notes, term sheet negotiation and investor-ready documentation for founders raising their first or fifth round.
Trademark registration, copyright protection and patent advice for the creative economy — brand protection, licensing and IP due diligence so the assets that make your business valuable stay yours.
Incorporation with the CAC, sector licences, regulatory permits and post-incorporation filings — handled end to end so you can trade without interruption.
NDPA compliance programmes, privacy policies, data processing agreements, software and SaaS contracts, and technology licensing.
Employment contracts, HR policy and workplace disputes, alongside Shariah-compliant structures for non-interest fundraising and Islamic finance advisory.
Nigeria's creative economy — music, film, fashion, design, publishing, gaming, advertising and software — is built on ideas. Those ideas only become assets when someone registers them, documents who owns them and puts contracts around how they are used. That is the work we do.
We work with creatives to protect their intellectual property: the artist whose catalogue is being streamed without a licence, the fashion label whose prints appear on someone else's rail, the studio whose footage is reused without permission, the developer whose code ships inside a product they were never paid for. We start by establishing what you actually own, then we register it, document it and enforce it.
Three pillars carry most of that work. Trademark registration protects the name, logo and brand your audience recognises. Copyright protection covers the songs, scripts, photographs, designs, manuscripts and code you create. Patent advice covers the inventions, processes and technical innovations behind a product. Alongside them we handle assignments, licensing, royalties, collaborations and the IP due diligence an investor or buyer will ask for.
Typical clients: recording artists and labels, filmmakers and production companies, fashion and design brands, authors and publishers, agencies, game studios and software companies.
Protect your intellectual propertySirat Legal is a Nigerian commercial law practice serving founders, small and medium businesses, investors, creative businesses and established companies. We work as an extension of your management team — understanding how you make money, then structuring the legal work around it.
Our engagements are deliberately plain: a clear scope, a named lawyer who knows your file, and advice written in language you can act on. No jargon, no surprise invoices, no waiting weeks for a reply.
Subscribe monthly and hand over the statutory work — filings, registers, resolutions and compliance deadlines — to a dedicated company secretary.
For newly incorporated companies finding their feet.
₦75,000per month
For growing companies with shareholders, staff and contracts.
₦180,000per month
For funded companies, groups and regulated businesses.
₦350,000per month
All retainers are billed monthly and can be upgraded or paused as your business changes. Fees exclude statutory filing charges.
Founders and business owners who work with us on an ongoing basis.
We closed our seed round in six weeks. Sirat Legal handled the term sheet, the shareholders’ agreement and every investor question without slowing us down once.
The Premium retainer means our filings, minutes and share register are simply handled. I have not thought about a CAC deadline in over a year.
They structured our non-interest facility properly and explained every step to our board. Rare to find a firm that understands both the Shariah and the commercial side.
Tell us where your company is and where you want it to go. We will tell you plainly what legal work is needed, what it costs, and how long it takes.
Share a short summary of what you need and we will come back to you within one business day.
Six areas of work, one commercial team. Below is what each practice covers, the questions clients usually bring us, and how an engagement with Sirat Legal actually runs — from first call to closed file. Fundraising and venture capital is set out in full: investment readiness, legal due diligence, data room build, term sheet negotiation and every capitalisation event from pre-seed to IPO.
The everyday legal work of running a company — the contracts you sign, the arrangements between owners, and the transactions that change the shape of the business.
Most of our corporate work starts with a document that is already on the table: a supply agreement a customer has sent over, a shareholders' arrangement being negotiated between founders, or a due diligence pack for an acquisition. We review it against how your business actually operates, then negotiate the terms that carry real risk rather than the ones that merely look unfamiliar.
For companies with more than one owner, we put the governance in place early — a shareholders' agreement that says what happens on deadlock, on exit, on a new investor coming in. It is far cheaper to draft that document than to litigate it later.
Typical clients: trading companies, manufacturers, service businesses and family-owned groups with contracts that need to hold up.
We get founders investment ready, carry them through legal due diligence, build the data room from scratch, and negotiate the term sheet — from pre-seed and seed rounds to Series A, later growth rounds, IPO and every capitalisation event in between.
Raising money is a legal project long before it is a commercial one. Investors buy clean structures: a cap table that reconciles to the share register, founder agreements that are actually signed, intellectual property assigned to the company rather than sitting with a contractor, corporate records complete and consistent. We prepare founders before the first investor meeting, so that diligence stops being a source of delay and the negotiation stays where it belongs — on valuation, terms and control.
Our work starts with an investment readiness review. We read the company the way an investor's counsel will read it: incorporation documents, share allotments and transfers, board and shareholder resolutions, the statutory registers, material contracts, employment and consultancy arrangements, IP ownership, data protection posture, regulatory licences and any outstanding disputes. What we find becomes a remediation plan with owners and dates, and we clear the issues before they are discovered by someone else.
From there we build the data room from scratch. Not a folder of loose PDFs, but an indexed, disclosure-ready set of documents organised the way a diligence checklist expects — corporate, capitalisation, financial, commercial, intellectual property, employment, regulatory, litigation and tax — with a disclosure schedule that protects you against warranty claims later. We run the diligence process itself: responding to the investor's request list, managing the Q&A log, controlling what is disclosed and on what terms, and keeping the timetable moving.
On the deal we work the term sheet line by line and explain what each clause costs you in practice, not just in theory: liquidation preference and whether it is participating, anti-dilution and which flavour, board composition and observer rights, protective provisions, information and inspection rights, pro-rata and pay-to-play, drag-along and tag-along, founder vesting and reverse vesting, and the representations, warranties and indemnities that survive closing. We negotiate the definitive documents — share subscription or share purchase agreements, shareholders' agreements, investor rights agreements, side letters and disclosure letters — and we run the closing: conditions precedent, waivers, filings, share issuance, stamping and the updated register.
We also act on the other side of the table, for angel investors, venture funds, family offices and syndicates, on their investment agreements, due diligence and portfolio documentation. That dual experience is why founders find our term sheet advice useful: we know which clauses an investor will actually insist on, and which are negotiable.
Typical clients: pre-seed and venture-backed startups, growth-stage companies preparing for institutional rounds, founders selling secondary, angel investors, venture funds, family offices, accelerators and incubators.
Most founders come to us at one of two moments: just before a round they are not yet ready for, or in the middle of a diligence process that has stalled. Both are fixable, and both are cheaper to fix early.
We stay with a company across its whole life as a funded business. Pre-seed and seed work is about getting the foundations right — the founder split, the vesting schedule, the IP assignments, the first SAFE or convertible note, and a cap table that will still make sense after three more rounds. Series A and beyond is about institutional-grade documentation: a priced round with a proper shareholders' agreement, investor rights, board structure and governance that a fund's investment committee can approve.
As a company matures we handle the events that reshape its capital: bridge and extension rounds, insider-led rounds, venture debt alongside equity, secondary sales that give founders and early backers liquidity, ESOP expansions, and the reorganisations that tidy up a group before a larger raise. At the far end of that journey sits IPO and capital markets readiness — corporate clean-up, governance uplift, disclosure discipline and prospectus support — and the acquisition route, where we run the sell-side process, the data room, the warranties and the completion mechanics.
Whichever stage you are at, the same principle applies: the legal work should make the raise faster, not slower. We keep the documents clean, the timetable visible and the investor's questions answered before they are asked twice.
Five stages, in this order. Skipping one is what turns a six-week round into a six-month one.
We audit the company against an investor's diligence checklist: incorporation, share register, resolutions, material contracts, IP ownership, employment and contractor terms, data protection, licences and disputes. You get a written findings note and a remediation plan with owners and dates.
We also pressure-test the story the documents tell. If the cap table does not match the register, or a founder's shares were never properly allotted, that is found here rather than in the investor's memo.
We build the data room from scratch — indexed, complete and disclosure-ready — then run the diligence process: the investor's request list, the Q&A log, the disclosure schedule and the timetable. Nothing is disclosed without a view on what it means for your warranties.
Where diligence raises an issue, we deal with it: a missing assignment, an unsigned contractor agreement, a licence that needs renewing, a shareholder consent that was never obtained.
We review the term sheet line by line and give you a plain-language note on the economics and the control: valuation and pre-money, liquidation preference, anti-dilution, board seats and observers, protective provisions, information rights, pro-rata, drag and tag, and founder vesting.
Then we negotiate. Our job is to get you terms you can live with for the next five years, not just terms you can sign this week.
Share subscription or share purchase agreements, shareholders' agreements, investor rights agreements, side letters, disclosure letters and the ancillary consents. We coordinate the other side's counsel, the company secretary and any regulator.
At closing we run the conditions precedent, waivers, share issuance, filings and stamping, and update the statutory registers so the round is properly recorded.
Post-closing we keep the company investor-ready: the register maintained, board and shareholder resolutions documented, ESOP allocations recorded, information rights and reporting obligations diarised, and the next round's groundwork already in place.
Where a company is heading for an IPO or a sale, we start the corporate clean-up and governance uplift well before the process begins.
Timelines depend on how clean the company is at the start. A prepared founder with a complete data room typically closes a seed round in six to ten weeks; an unprepared one takes considerably longer, and often at a worse price. Fees are quoted as a fixed project fee for the readiness and data room work, and as an agreed fee for the transaction itself.
We build the room from scratch and keep it current, so that the next raise — or the next acquisition approach — starts from a complete file rather than a scramble. Every document is reviewed before it goes in, and every gap is either filled or explained in the disclosure schedule.
Also for investors: we act for angels, venture funds, family offices and syndicates on the other side — investment agreements, due diligence on the target, co-investment and syndicate documentation, and portfolio company governance.
Get investment readyTrademark registration, copyright protection and patent advice for the creative economy — your brand, your content, your inventions and your software.
Trademark registration is the most common gap we find. A business trades for years under a name it never registered, then discovers someone else has filed it. We run availability searches, file with the Nigerian trademark registry, respond to objections, and keep the registration alive through renewals. For creative businesses the same discipline applies to a stage name, a label mark, a collection name or a studio identity.
Copyright protection covers the work itself: songs, recordings, scripts, photographs, illustrations, designs, manuscripts and code. Copyright arises automatically, but ownership is a contracts problem. Employees, freelancers, producers, collaborators and agencies who create your work own it unless the paperwork says otherwise. We fix that with assignment and licence terms, register where registration helps, and audit what you already own before an investor, distributor or buyer asks.
Patent advice covers the inventions and technical processes behind a product. We run novelty searches, advise on what is genuinely patentable, prepare and file applications, and structure the technology transfer and licensing arrangements that let an invention earn.
Typical clients: recording artists and labels, filmmakers and production companies, fashion and design brands, authors and publishers, agencies, game studios, software companies and any business whose value sits in its name or its work.
As a CAC accredited agent we register the entity, then procure every licence, permit and approval the business needs to trade — swiftly, and with the post-incorporation support that keeps it compliant afterwards.
We are an accredited agent of the Corporate Affairs Commission, which means we file directly rather than through a queue of intermediaries. That is the difference between a registration that takes days and one that takes weeks: name reservation, incorporation, the certified true copies, the TIN and the bank documentation all move on the same file, handled by one team that knows exactly what the Commission will ask for.
Formation is only the first step. A company that is properly incorporated but unlicensed cannot trade, and a company that is licensed but never files falls out of good standing. So we map the whole picture before you commit to a launch date — the sector regulator, the state and local permits, the statutory filings — and we keep it current afterwards.
Typical clients: new companies, foreign investors entering Nigeria, and established businesses expanding into a regulated line of work.
Everything a CAC accredited agent is mandated to do for a business, from the first name search to the filings that keep the entity in good standing.
We run the availability search, advise on a name that will clear the Commission's rules on similarity and restricted words, and reserve it so the incorporation can proceed.
Where a proposed name is likely to be rejected, we say so before you build a brand around it.
Private companies limited by shares, companies limited by guarantee and public companies — memorandum and articles, share capital and shareholding structure, directors and secretary, registered address.
We draft the constitution so it fits the business you are actually running, not a template.
For sole traders, partnerships and trading names — the registration that lets a small business open a corporate bank account and invoice under its own name.
We advise when a business name is enough and when you should incorporate instead.
Registration of churches, mosques, associations, clubs, foundations and NGOs as incorporated trustees, including the constitution, the trustees and the application to the Commission.
We also handle the changes of trustees that follow.
Change of directors, secretary or registered address; increase in share capital; allotment and transfer of shares; change of name; and the annual returns every company must file.
Filed on time, so the company never drifts out of good standing.
Certified true copies of the certificate of incorporation and filed documents, status reports, and the statutory registers — members, directors, secretaries and charges — maintained and up to date.
The documents banks, regulators and investors ask for, ready when they ask.
Tax identification number, the documentation a bank needs to open the corporate account, and the practical steps that turn a certificate into a trading business.
We coordinate with your bank and accountant rather than leaving you to join the dots.
Registration with the Special Control Unit against Money Laundering, required of designated non-financial businesses and professions — and a condition banks and regulators now routinely ask for.
We prepare the application, the ownership and control information and the internal compliance documents, and we file it.
Also available: re-registration and regularisation of companies whose records have lapsed, conversion of a business name into a limited company, and reconstruction of lost or incomplete statutory records.
A company is only as useful as the approvals it holds. These are the licences we procure and renew for clients across Nigeria's regulated sectors.
Product registration for food, drugs, cosmetics, medical devices, packaged water and herbal products, plus the labelling and documentation the agency requires.
Registration as an employer, the Contributory Pension Scheme set-up, group life insurance and the remittance and reporting obligations that follow.
Department of Petroleum Resources and Nigerian Upstream Petroleum Regulatory Commission approvals, downstream and upstream permits, and the local content documentation service companies need.
Central Bank of Nigeria and Securities and Exchange Commission applications — money lenders, bureau de change, payment services, fund managers and capital market operators.
Registration with the Nigeria Data Protection Commission, data controller and processor filings, and the audit returns required of organisations processing personal data.
Health facility and pharmacy licences, education and school approvals, SON and MANCAP product certification, and professional council registrations.
Expatriate quota approval, business permits, residence permits and the immigration documentation that lets a foreign-owned company bring its own team into Nigeria.
Trade and business premises permits, signage and outdoor advertising approvals, fire and environmental certificates, and the levies each state and local council imposes.
TIN and VAT registration, withholding tax and PAYE set-up with the Federal Inland Revenue Service and the relevant state internal revenue service.
Licences carry renewal dates, conditions and reporting obligations. We diarise every one of them, file the renewals before they lapse, and tell you what a regulator will ask for next — so a licence never becomes the reason a contract or a payment stalls.
Nigeria permits wholly foreign-owned companies, and the entry route is well established — but it is a sequence, and the sequence matters. Choose the wrong vehicle, or register the company before the capital is imported, and you create a problem that is expensive to unwind later.
We take foreign founders, funds and corporates through it end to end: the right entity for what you intend to do here, the incorporation itself, the capital importation and certificate that lets you repatriate later, the tax registrations, and the immigration work that puts your own people in the country legally.
We also act for foreign companies that need a Nigerian presence without a full subsidiary — branch registration, representative arrangements and the contracts that support them.
Typical clients: foreign founders entering the Nigerian market, international groups incorporating a subsidiary, investors taking a stake in a Nigerian company, and diaspora businesses setting up at home.
Start your Nigerian entityRegistration is a moment; compliance is a habit. We stay on the file after the certificate is issued, so the business never has to remember a deadline on its own.
Annual returns, changes of directors and address, share allotments and transfers, and the statutory registers kept complete and reconciled. We file on time and keep the records an investor or regulator will ask to see.
Every licence we procure is diarised with its renewal date and its reporting obligations. We prepare the renewal, chase the regulator and confirm the approval — before the expiry date, not after.
One schedule covering CAC filings, tax returns, pension remittances, sector regulator returns and licence renewals, with the owner and the date against each. You know what is due and who is doing it.
Post-incorporation support is available as a one-off clean-up or as an ongoing monthly retainer, alongside our company secretarial packages. Where a company has already fallen behind, we regularise the position first and then keep it current.
Compliance under the Nigeria Data Protection Act, and the contracts behind every platform, app and vendor you rely on.
If you hold customer data, you have obligations: a lawful basis for processing, a privacy notice people can understand, contracts with every processor, a register of processing activities, and a route for handling a breach. We build that as a working programme rather than a document that sits in a drawer, and we train the team that has to follow it.
On the technology side, we draft and negotiate the agreements that keep a product running — SaaS subscriptions, software development and maintenance, hosting, payment processing, reseller and API arrangements — with attention to service levels, data ownership and termination.
Typical clients: fintechs, health and education providers, e-commerce platforms, and any business processing personal data at scale.
The people side of the business, and Shariah-compliant structures for companies that raise or lend without interest.
Employment work is mostly about getting the paperwork right before there is a problem. Contracts that match the role, a staff handbook that sets out expectations, policies on leave, discipline and remote work, and a clean process for exits. When a dispute does arise, we handle the negotiation, the internal process and the representation before the relevant tribunal.
Our Islamic finance practice sits alongside it. We structure non-interest facilities, sukuk, murabaha and ijara arrangements, and review the underlying contracts so the transaction is defensible on both the Shariah and the commercial side. Clients often come to us because they need a firm that can hold both conversations at once.
Typical clients: employers with growing teams, and businesses raising or lending on a non-interest basis.
Every matter follows the same four steps. You know the scope, the fee and the lawyer responsible before any work begins.
A 30-minute call or meeting, at no cost, to understand the business and the problem. You leave with a view on whether you need a lawyer at all, and what the work would involve.
We send a short engagement letter: what we will do, what we will not, who is doing it, the timeline, and the fee. Project work is quoted as a fixed fee; ongoing work is quoted as a monthly retainer. Nothing starts until you approve it in writing.
One lawyer owns your file from start to finish and is your point of contact throughout. Drafts come with a plain-language note explaining the commercial points and the decisions we need from you.
You receive the executed documents, a short summary of what was agreed, and any dates you need to diarise. Where a matter creates ongoing obligations, we can move you onto a retainer so they are tracked rather than remembered.
A defined piece of work with a fixed fee agreed in advance — a contract to negotiate, a company to incorporate, a trademark to file, a round to close. Best when the work has a clear end.
An agreed number of hours each month with a named lawyer on call, covering whatever comes up. Best for companies that need regular input rather than a single transaction.
Our Basic, Premium and Executive packages hand the statutory work — filings, registers, resolutions and deadlines — to a dedicated company secretary. Details are on the home page.
Fees are quoted in naira and exclude statutory filing charges and third-party disbursements, which are always itemised before they are incurred. Retainers can be upgraded, paused or cancelled with one month's notice.
Describe it in a sentence or two and we will tell you plainly what is involved, who would handle it, and what it is likely to cost.
Sirat Legal is a small firm by design. Every matter is handled by a named lawyer who knows your business, and the person you meet in the first conversation is the person who signs off the final document.
How we are organised
Our lawyers come from a mix of in-house, regulatory and private practice backgrounds. That matters more than it sounds: a lawyer who has sat inside a company reads a contract differently from one who has only ever argued about it afterwards.
We keep the team deliberately small so that advice stays joined up. If your fundraising documents touch your cap table, your employment contracts and your data processing agreements, one lawyer sees all three — and you are not paying three people to learn your business from scratch.
2014
Firm founded in Lagos
6
Lawyers and counsel
300+
Matters handled to date
48h
Typical first response
Each profile sets out what that lawyer does day to day, the work they are known for, and the sectors they know best.
Managing Partner · Corporate & Commercial
Abdulrahman founded the firm in 2014 after a decade split between a Lagos commercial practice and the legal team of a listed manufacturing group. He leads the corporate and commercial practice, and he is the lawyer most often on the other side of a negotiation table from a large company's in-house counsel.
His work is concentrated on the documents that define a business: shareholders' agreements, acquisitions, group restructurings and the commercial contracts that carry the most risk. He is a steady hand in a difficult negotiation and is known for telling clients plainly when a deal is not worth doing.
Partner · Startup Advisory & Venture Capital
Zainab advises founders from the first term sheet to the later rounds. She spent four years as counsel to an early-stage venture fund before joining the firm, which means she has sat on both sides of a financing and knows exactly what an investor's diligence list is looking for.
She is the person founders call before they sign anything. Her practice covers cap table design, SAFEs and convertible notes, priced rounds, ESOPs and investor-side documentation. She also runs our founder education sessions on equity, vesting and what a term sheet actually costs.
Partner · Intellectual Property & Technology
Ibrahim handles trademarks, copyright and the licensing arrangements behind products and platforms. He has filed and prosecuted several hundred marks with the Nigerian registry and manages foreign filings through a network of agents in West Africa and the UK.
A large part of his practice is fixing ownership that was never documented — the logo a freelancer designed, the code a contractor wrote, the content an agency produced. He audits what a business actually owns, then puts the assignments and licences in place before an investor or buyer asks the question.
Senior Associate · Data Privacy & Regulatory
Fatima builds data protection programmes that companies can actually run. She has led NDPA compliance work for fintechs, health providers and e-commerce platforms, and she is usually the lawyer on the call when a regulator has written to a client.
Her practice covers gap assessments, privacy notices, processing registers, processor contracts and cross-border transfer mechanisms. She also handles breach response, including notification procedure and engagement with the Nigeria Data Protection Commission. She trains the internal teams who have to live with the policy afterwards.
Senior Associate · Employment & Islamic Finance
Yusuf advises employers on the whole life of a working relationship — contracts, handbooks, discipline, restructuring and exits. He represents clients before the National Industrial Court and has a particular interest in getting the internal process right before a dispute ever reaches a tribunal.
He also leads our Islamic finance work, structuring non-interest facilities, murabaha, ijara and sukuk arrangements, and reviewing the underlying contracts so a transaction stands up on both the Shariah and the commercial side. Clients value having one lawyer who can hold both conversations.
Associate · Business Formation & Company Secretarial
Chidinma runs incorporation, licensing and the statutory filings that keep a company in good standing. She handles CAC registrations, post-incorporation changes, sector licences and the state and local permits that a new premises or a new line of work will require.
She is also the company secretary behind our Basic, Premium and Executive retainers, keeping registers, resolutions, annual returns and compliance calendars up to date. Foreign investors work with her on entity selection, entry structures and expatriate quota.
Three habits shape how the team operates, and they are the reason clients stay with us past the first transaction.
Tell us what the matter is and we will put you in front of the right person, with a view on scope and cost before you commit to anything.
Shariah-compliant, interest-free finance for Nigerian businesses. Sirat Legal advises on Islamic finance contracts, structures non-interest facilities, and works with non-interest banks, Islamic windows and development finance institutions to help SMEs raise interest-free capital.
Islamic finance is a way of financing a business without charging or paying interest. Instead of lending money at a rate, a Shariah-compliant transaction is built on a real asset, a real trade or a genuine partnership — and the return to the financier comes from that underlying activity rather than from the passage of time.
That distinction matters commercially, not just religiously. Because every Islamic finance transaction has to be tied to an identifiable asset or venture, the documentation is usually more specific than a conventional loan: what is being bought, who owns it and when, what happens if the asset is not delivered, and how profit and loss are shared. Getting that structure right at the outset is what makes a facility bankable, defensible and acceptable to a Shariah board.
Sirat Legal advises SMEs, cooperatives, founders and financial institutions on both sides of that work. We structure the transaction, review the contracts, and stay involved through Shariah review, documentation and drawdown — so the facility is sound on the Shariah side and on the commercial side at the same time.
Islamic finance is not one product but a family of contract types. Each suits a different commercial need — a purchase, a lease, a partnership, a project or a deposit. We advise on the full range, and we will tell you plainly which one fits your transaction.
Cost-plus sale
The financier buys the asset you need and sells it to you at a disclosed mark-up, payable in instalments. The most widely used structure for equipment, stock and working capital, and the one most SMEs meet first.
Leasing
The financier owns the asset and leases it to you for a rental over an agreed term. Ownership stays with the financier, who carries the risks of ownership — useful for vehicles, plant, machinery and premises.
Joint partnership
You and the financier both contribute capital to a venture and share profit in an agreed ratio and loss in proportion to capital. The backbone of project finance and diminishing-ownership home and asset finance.
Profit-sharing investment
One party provides the capital, the other provides the management and expertise. Profit is shared on a pre-agreed ratio; financial loss falls on the capital provider unless the manager was negligent.
Negotiated sale
A straightforward sale at a price negotiated between the parties, without disclosing the seller's cost. Used where the mark-up need not be itemised, and common in commodity and trade transactions.
Forward purchase
Full payment now for goods to be delivered at a future date on specified terms. Suits agriculture and commodity supply chains, where the producer needs capital before the harvest or the delivery.
Manufacture or construction
An order to manufacture, build or construct something to specification, with payment staged against progress. The natural structure for construction, fabrication and bespoke manufacturing.
Lease ending in ownership
An ijara lease combined with a promise to transfer ownership to the lessee at the end of the term, or through a series of increasing equity payments. Asset finance that ends with you owning the asset.
Asset-backed investment certificates
Certificates representing ownership in a tangible asset, project or venture, paying a return from the income that asset generates. The Islamic capital-markets instrument for larger raises.
Cooperative insurance
Mutual protection in which participants contribute to a pooled fund that pays claims, rather than transferring risk to an insurer for a premium. The Shariah-compliant alternative to conventional insurance.
Benevolent loan
An interest-free loan repaid in the same amount borrowed, with no return to the lender. Used for welfare, bridging and employee support, and often paired with a fee-bearing structure elsewhere.
Structures are frequently combined — a murabaha working-capital line alongside an ijara for equipment, or a musharakah project vehicle funded by sukuk. We map the whole financing, not just the single contract in front of us.
An SME that wants to raise without interest has to approach a different set of institutions from the ones it already knows. We work with those institutions regularly, which means we know what each of them needs to see before a facility can be approved — and we prepare your file to meet it.
Our role is to sit between the business and the financier: translating your commercial plan into a Shariah-compliant structure, assembling the documentation the credit and Shariah committees will ask for, and negotiating the terms so the cost of the facility is clear before you commit.
Typical clients: SMEs raising working capital or asset finance without interest, cooperatives and thrift societies, agro-processing and manufacturing businesses, project sponsors, and institutions building out a Shariah-compliant product.
From the first structuring conversation to the day funds are drawn, a non-interest facility moves through five stages. You know where your matter sits at every point, and what is needed to move it forward.
We work out which contract type fits the need — murabaha, ijara, musharakah or a combination — and how the transaction will be documented. This is where the commercial shape of the facility is decided, before anything is committed.
We prepare the business to be financed: financial statements and projections, corporate records, security and collateral, licences, and the ownership documents a financier will want to see. A file that is ready moves through credit far faster.
The proposed structure goes to the financier's Shariah board or adviser for approval. We prepare the submission, answer the questions that come back, and adjust the structure where the board requires it — so the facility is approved on the Shariah side as well as the credit side.
We draft and negotiate the facility agreement, the underlying sale, lease or partnership contracts, security documents and guarantees. Every clause is explained in plain terms, and the cost of the facility is set out clearly before signature.
Conditions precedent are satisfied, security is perfected, and funds are released. We handle the completion mechanics and the post-completion filings, and stay available for the ongoing obligations the facility creates.
Timelines vary with the financier and the complexity of the structure. A straightforward murabaha for working capital can move in a matter of weeks; a project musharakah or a sukuk issue takes longer. We give you a realistic timetable at the structuring stage rather than an optimistic one.
Most delays in a non-interest facility come from documentation that was never assembled, not from the structure itself. If you have the following ready before we approach a financier, the process moves considerably faster.
If some of this is missing, that is not a reason to wait. We will tell you what is essential for your particular facility and help you put the rest in place.
Structuring and documentation work is quoted as a fixed fee once we understand the transaction, so you know the cost before we begin. Where a facility creates ongoing obligations, we can move you onto a retainer so they are tracked rather than remembered.
Our Islamic finance work is led by a senior associate who also advises on employment and commercial matters, supported by the firm's corporate team. One lawyer owns your file from the first structuring call to drawdown.
Book a consultationTell us what the finance is for and how much you need. We will tell you plainly which structure fits, which institutions to approach, and what the facility is likely to cost.