DIFC welcomes Bin Shabib & Associates (BSA), the first UAE based law firm to operate in the DIFCPress Release18 Mar 2006 10:53 am
Bin Shabib & Associates (BSA) became today the first UAE based law firm to be registered by DFSA to operate out of DIFC as an Ancillary Service Provider.
Dr. Omar Bin Sulaiman, Director General of the DIFC Authority, welcoming the organization commented: “It is with great pleasure that we welcome our first UAE based law firm, Bin Shabib & Associates (BSA) to the DIFC. The fact that the DFSA has registered Bin Shabib & Associates (BSA), reflects the sophisticated level of service offered and the high standards of the firm. We have seen the dynamic growth of Bin Shabib & Associates (BSA) in the last decade and are happy with the development of the local business. We are especially delighted to see the advancement of UAE based firms that are now able to provide qualified services which are equivalent to that provided by global players. Bin Shabib & Associates (BSA) is one of the UAE success stories and we welcome them to the DIFC.”
Founder of the law firm, Dr. Rashid Bin Shabib, stated: “It gives us a great pleasure to be the first local firm providing legal services registered by the DFSA. This is a significant strategic milestone for Bin Shabib & Associates (BSA) that positions it among the best law firms in the market. Operating within the DIFC, which is becoming a local hub for the financial activities, will now be even more beneficial for our clients who value our expertise in the UAE market.”
“We would like to thank DIFC and DFSA for supporting our application and encourage them in their continuous efforts in strengthening a fully fledged ‘onshore’ capital market, comparable to Hong Kong, London and New York. This license is a proof of our vigorous efforts in meeting the needs for the qualified legal services reflecting our ability to meet high performance standards of the DFSA.”
Bin Shabib & Associates (BSA) is a law firm that accumulates the local customs and practices with the western approach. The firm’s divisions, Corporate & Commercial, Banking & Finance and Litigation, deal with a wide range of clients and industries from the local players to major international companies. The firm is renowned for its expertise in working on most significant developments in the market including IPOs, mergers and acquisitions and Shari’ah complaint financings. The industries and sectors the firm is involved in include: governments, real estate, banking and finance, communications, transport, insurance, capital markets and investment banking and other.
The office is led by Dr. Rashid Bin Shabib and Jimmy Haoula who have the long-term background in Clifford Chance’s Dubai office. The firm has been founded by Dr. Rashid Bin Shabib who is the recognized player within the UAE business and social scenes.
Bin Shabib & Associates (BSA) will be moving its head office to the DIFC within 2006.