Firms To Watch: Banking and finance

Banking and finance in Saudi Arabia

CMS Cameron McKenna Nabarro Olswang Lawyers and Consultants

At CMS Cameron McKenna Nabarro Olswang Lawyers and Consultants, the banking and finance offering in Saudi Arabia was bolstered by the arrival of finance expert Robin Balmer. Balmer has an excellent reputation for advising on asset, property, project and trade finance matters across the Middle East.

A&O Shearman

A&O Shearman's banking and finance team is noted for its capabilities in private credit matters, receivables securitisation, debt restructuring and international financing issues. The group has expertise in representing borrowers and lenders in mandates. Practice head Samer Eido brings extensive experience in handling conventional and Islamic finance transactions. Hosam Ghaith, the managing partner of Saudi Arabia, routinely acts for government entities and financial institutions in mandates. Private credit transactions are a key area of strength for Haris Meyer Hanif, who is equally adept at handling restructuring and insolvency matters.

Responsables de la pratique:

Samer Eido


Autres avocats clés:

Hosam Ghaith; Haris Meyer Hanif


Les références

‘Their precise and meticulous approach to every task is what truly sets them apart.’

Principaux clients

Saudi Electricity Company


Shorooq Partners Limited


Drake & Scull International


Principaux dossiers


  • Advised a syndicate of international and regional banks on USD3.6 billion conventional and Murabaha loan facilities provided to Saudi Electricity Company.

Abuhimed Alsheikh Alhagbani Law Firm (AS&H) in co-operation with Clifford Chance

Abuhimed Alsheikh Alhagbani Law Firm (AS&H) in co-operation with Clifford Chance‘s ‘exceptional’ banking and finance practice has an excellent reputation in Saudi Arabia for its expertise in handling a wide spectrum of finance matters. The team acts as counsel to domestic and international banking companies, public sector clients and government entities on large-scale financings, facility arrangements, restructurings and private matters, to name a few areas. Additionally, the group is well-versed in representing lenders in high-value financing mandates, often in the aviation and utilities sectors. Practice head Yasser Al-Hussain is particularly experienced in advising on high-value syndicated lending transactions. Ahmed Choudhry and Mohamed Hamra-Krouha are key practitioners to note. Ali Moiz Ansari left the firm in October 2025.

Responsables de la pratique:

Yasser Al-Hussain


Autres avocats clés:

Mohamed Hamra-Krouha; Ahmed Choudhry


Principaux clients

ROSHN Group Company


Saudi National Bank


Riyad Bank


HSBC Saudi Arabia


Saudi Electricity Company


Vision International Investment Company


MUFG Bank, Ltd.


Mizuho Bank, Ltd.


Bahri


Principaux dossiers


  • Advised a syndicate of banks on a SAR 9 billion unsecured revolving Murabaha facility extended to the ROSHN Group.
  • Advised SNB on a USD 1 billion credit facility matter.

Khoshaim & Associates

Khoshaim & Associates is lauded for its expertise in banking and finance matters. Led by Karim Wali, the team often assists public and private clients with corporate finance and project finance issues in the energy, real estate and construction sectors, as well as advising on Islamic and Shariah-compliant financing transactions. The 'exceptional' Paul Matrosov is sought after for his excellent track record in handling high-value financings and transactions for sponsors and lenders relating to energy and infrastructure projects. Naryman Alkassimi is a name to note for financial sector regulatory matters.

Responsables de la pratique:

Karim Wali


Autres avocats clés:

Paul Matrosov; Naryman Alkassimi


Les références

‘Working with Karim Wali has been a remarkable experience. He is very dedicated.’

‘Paul Matrosov demonstrated exceptional expertise, delivering high-quality advice with impressive efficiency and turnaround time.’

‘We were highly impressed by Paul Matrosov’s exceptional expertise, combining deep knowledge of complex project finance structures with extensive experience in Saudi projects. His level of service, understanding, and responsiveness was truly outstanding, and his advice was delivered with remarkable efficiency and precision.’

Principaux clients

The Saudi National Bank


Arab National Bank


BANQUE SAUDI FRANSI


Saudi Awwal Bank


Tourism Development Fund


National Automotive & Mobility Investment Company (TASARU)


Morgan Stanley


CEER National Automotive Company


Saudi Arabian Oil Company


Saudi Industrial Development Fund – SIDF


Latham & Watkins LLC

Latham & Watkins LLC‘s ‘extremely proactive, knowledgeable and responsive’ banking and finance team has an excellent reputation for handling financings in the construction and power sectors. The group is very experienced in acting for both borrowers and lenders in major project development matters, as well as representing government entities and private clients in cases involving Shariah-compliant financing. Practice head Peter Norris, who was promoted to the partnership in March 2025, is well-versed in handling domestic and cross-border project finance cases. Salman Al-Sudairi brings expertise in debt restructurings.

Responsables de la pratique:

Peter Norris


Autres avocats clés:

Salman Al-Sudairi


Les références

‘Their extensive expertise distinguishes them from others in the field, supported by a wealth of knowledge and confident leadership in key matters.’

‘An excellent team – extremely proactive, knowledgeable and responsive. They leverage resources across their network to put together the most knowledgeable team for the deal. I have nothing but positive feedback for their work.’

‘Peter Norris is hands-on, commercial, and always available to deal promptly and efficiently with any queries.’

Linklaters

Linklaters acts on high-profile syndication financing, Islamic finance, project finance and export credit agency finance transactions. The group routinely represents national and global banking entities and real estate companies in mandates, and supports clients on private credit and debt finance cases. Practice head Omar El Sayed is a highly regarded finance practitioner with a solid track record in representing public and private clients in matters involving projects and the energy sector. Yuri Nekrasov focuses on cross-border finance transactions.

Responsables de la pratique:

Omar El Sayed


Autres avocats clés:

Yuri Nekrasov


Norton Rose Fulbright

Norton Rose Fulbright regularly acts for international and domestic banks, as lenders, in a wide range of transactions, including Islamic revolving credit facilities and syndicated lending. The team is equally adept at assisting PIF subsidiaries with finance matters. Practice head Mohammed Paracha  also acts as the head of the firm's Islamic finance practice for the Middle East. Aditi Sanyal assists financial institutions with real estate finance, project finance, and acquisition finance matters. Amar Meher brings expertise in handling high-profile debt restructurings.

Responsables de la pratique:

Mohammed Paracha


Autres avocats clés:

Aditi Sanyal; Amar Meher


Baker McKenzie Law Firm

At Baker McKenzie Law Firm, the team is very experienced in acting for banking companies, investment funds, and export credit agencies on a broad range of transactional matters, including conventional and Islamic financing work. Additionally, the group has a strong track record in assisting with financial regulatory matters. Dubai-based Adil Hussain leads the firm's Middle Eastern banking and finance practice, as well as acting as global head of Islamic finance, and Riyadh-based Delwar Hossain assists with project finance, Islamic finance and restructuring matters. In 2025 Ian Siddell retired from practice, and Fatima Alhasan left the firm.

Responsables de la pratique:

Adil Hussain


Autres avocats clés:

Delwar Hossain


Principaux clients

ABC Islamic Bank (E.C.)


Arab Banking Corporation (B.S.C.)


Abdullah Ibrahim Mohammed Alsubeaei Holding Company (AIMS Holding)


Abdul Samad Al Qurashi for Oud, Amber, Perfumes Stores Company


Abdulrahman Saleh Al – Rahji and Partners Company


ACWA Power International


Al Rahji Banking and Investment Corporation


Arab National Bank


The Arab Energy Fund (TAEF) – previously Arab Petroleum Investment Corporation (APICORP)


Bank AlJazira


Banque Saudi Fransi


Gulf International Bank B.S.C / GIB Capital


HSBC Saudi Arabia / Saudi Awwal Bank


Islamic Corporation for the Development of the Private Sector (ICD)


Khair Inorganic Chemical Industries Company (InoChem)


Mohammed I. Alsubeaei & Sons Investment Company (MASIC)


Olayan Saudi Holding Company


Saline Water Conversion Company


Saudi Arabia Ministry of Finance


Saudi Arabian Mining Company (Ma’aden)


Saudi Binladin Group Company Limited


Saudi Electricity Company


SNB Capital Company


Thakher Development Company (TDC)


The Saudi National Bank


The Saudi Investment Bank


Riyad Bank


Methanol Chemicals Company (Chemanol)


Solb Steel Company


JP Morgan


Alfanar Company CJSC


Al Yamama Company for Trading & Contracting


Ejada Capital Company


Catrion Catering Services LLC and Catrion Commercial Laundry LLC (100% subsidiaries of Saudia)


Almarai Company


Merak Capital Company (JSC)


Al Fadhili Field Housing for Real Estate Development Company


Al-Ittefaq Steel Products Company


Derayah LLPC – Saudilegal

Derayah LLPC – Saudilegal‘s banking and finance practice often represents major construction entities, lenders, sponsors and contractors in large-scale infrastructure financings. The group is equally adept at handling debt refinancing issues, multi-purpose facility arrangements, and banking regulatory matters. The department is co-led by Ali Abedi and Basel Barakat. Dana Halwani is a name to note.

Responsables de la pratique:

Ali Abedi; Basel Barakat


Autres avocats clés:

Dana Halwani


Principaux clients

Electricite de France (EDF)


Saudi Binladin Group Company Limited


AlJomaih Energy and Water


Buhur for Investment


Ajlan & Brothers


Riyad Bank


Apicorp


Saudi National Bank


Warba Bank


Abu Dhabi Islamic Bank


Principaux dossiers


  • Advising the sponsors in connection with the project financing of a 1,800MW combined cycle gas turbine independent power plant in Taiba, Saudi Arabia.
  • Advised First Milling Company in connection with the refinancing of its existing debt.
  • Advising the sponsors in connection with the project financing for the first gas-fired IPPs since 2016 in Qassim, Saudi Arabia.

DLA Piper Legal Consultants

DLA Piper Legal Consultants has established expertise in handling transactions for clients in the power, water and petrochemical industries. The team is equally well-versed in advising on restructuring, insolvency and bankruptcy proceedings. Based in Riyadh, Paul Latto is sought after by banking clients to advise on Saudi regulatory compliance work and lending transactions. AgathI Trakkidi is very experienced in representing lenders in finance transactions.

Responsables de la pratique:

Paul Latto; James Iremonger


Autres avocats clés:

Agathi Trakkidi


Les références

‘Excellent problem-solving skills.’

‘Deep knowledge of our company, work very well with internal clients and able to deliver great advice quickly.’

Principaux clients

Creditors‘ Coordinating Committee for Ahmad Hamad Algosaibi Brothers & Company


Principaux dossiers


  • Representing the creditors committee established by the Commercial Court in Dammam, Saudi Arabia in ongoing bankruptcy procedures concerning the financial reorganisation proposal prepared by AHAB in consultation with the bankruptcy trustee.

Gibson Dunn

Project finance work forms the backbone of Gibson Dunn's practice. The team's recent workload includes advising lenders on project financing in the water, desalination and petrochemical sectors, as well as representing independent power producers in mandates. The group is equally strong in acting for government ministries as sponsor-side clients in international syndicated lending. Practice head Mahmoud Abdel-Baky regularly assists with infrastructure and power project finance issues and Shariah-compliant financing.

Responsables de la pratique:

Mahmoud Abdel-Baky


Les références

‘They doesn’t just answer legal questions—they anticipate business challenges three steps ahead. On complex transactions, they consistently identify issues that others miss and propose creative solutions that balance legal risk with commercial objectives. Their ability to see the « big picture » while managing intricate details is extraordinary.’

‘Mahmoud builds exceptional teams around each matter. He delegates effectively while maintaining quality control, and creates collaborative environments that bring out the best in everyone involved. The ability to bridge Western business practices and Saudi commercial culture is invaluable. Mahmoud translates between these worlds effortlessly, helping international clients navigate local nuances while helping Saudi clients access global capital and partnerships.’

Principaux clients

Saudi Kayan


Riyad Bank


Ministry of Finance


ACWA Power


Chevron Corporation


Ensco Global Limited


Kuwait Investment Authority


PIF


NEOM


Principaux dossiers


  • Advised a consortium of banks on a SAR 8.1 billion Murabaha facility for the Saudi Kayan Petrochemical Company.
  • Advising a consortium of lenders on the financing and operation of the Al Dur 2 Independent Water and Power Project in Bahrain.

White & Case

White & Case‘s team acts for an established roster of public sector entities and government entities on project, energy, and real estate finance matters. The group often handles mandates concerning refinancings and restructurings, as well as advising commercial banks and financial institutions on investments and finance cases. Key practitioners to note include Alec Johnson, who is well known for assisting with large-scale project finance matters, and Antoine Cousin, a go-to for power, petrochemicals and water sector companies. Nezar Al Abbas left the firm in early 2026.

Autres avocats clés:

Waad Alkurini; Alec Johnson; Antoine Cousin; Adam Pierson


Les références

‘White & Case have deep knowledge of Saudi Arabia, and this is reflected in the quality of their advice and understanding of the local market.’

‘Alec Johnson is a stand out partner in an exceptional team. Alec has a great work ethic, delivering at pace and with high energy.’

Al Tamimi & Company

Al Tamimi & Company‘s team has ‘deep expertise across the banking and finance space’. The group is well-versed in handling conventional and Islamic financings, project finance and structured finance cases, and routinely represents clients in the hospitality and real estate sectors in finance matters. Rafiq Jaffer leads the team, and he is ably supported by Ambreen Bidiwala and Aurangzeb Maqsood.

Responsables de la pratique:

Rafiq Jaffer


Autres avocats clés:

Ambreen Bidiwala; Aurangzeb Maqsood


Les références

‘They are very responsive and diligent.’

‘Aurangzeb Maqsood is smart and incredibly responsive.’

‘Rafiq and his team are highly responsive, commercially minded and bring deep expertise across the banking and finance space. In particular, their strength in Islamic finance sets them apart from many other firms.’

Principaux clients

ACWA Power Company


Al Jomaih Energy and Water Company


Marubeni Middle East and Africa Power Limited


Power and Water Utility Company for Jubail and Yanbu (Marafiq) and Miahona Company


Saudi Water Authority


Amaala Sustainable Company for Energy


Ahli United Bank


Tabby Financing Company


Bank Aljazira


Qatar National Bank, KSA Branch


Principaux dossiers


  • Advising ACWA Power Company on several projects in Saudi Arabia.
  • Advising Bank Aljazira on a US$ 132 million Islamic facility extended to FlyNas for refinancing three A320 aircrafts.