Islamic Finance and Banking

With our wide range of connections and ties in the Arab region, Germela has developed a strong understanding of the Islamic Banking and Financial Services. Our lawyers have experience with Sharia (Islamic law) from working with various firms in the MENA region including the UAE, Qatar, Saudi Arabia and Bahrain. Germela offers legal advice in English, German, Persian, French, Russian, Turkish and also in Arabic. Hence, we have set up a team to specifically deal with Islamic Financing and Banking cases.

Islamic Banking is a unique form of financial services, with a high level of trust. For instance, the lending of money to accrue an interest is prohibited. The ideology is to “treat wealth as a means rather than an end.'' Hence, it is against Islamic beliefs to store money, rather it should be used for the greater good. It is approximated that the Islamic banking and financial sector enjoys a healthy 2 trillion USD worth of assets acro ss 75 countries. Compared to traditional banking platforms, the Islamic Banking sector is growing at an exponential rate (figures from the IFSB suggest 15% per annum).1

Our founder and president Dr. Thomas Wülfing has worked very closely within this sector. He participated as a guest lecture speaker at the Bucerius law school to give an insight into the "Legal Aspects of Islamic Banking and Sharia Compliant Investments". In this talk, he discussed some of the strategies used in Islamic Banking and the significance of the rules of Sharia (Islamic Law). Dr. Wülfing also shared some of his experiences in depth, regarding the formation and certification procedure of Sharia compliant products. <br/> Furthermore, Dr. Wülfing has contributed to multiple newsletters, talking about the opportunities in Islamic Banking in greater detail. He has a vast depth of knowledge regarding Sharia compliant investments.

Services we offer:

With regard to the services we provide, we operate in the African countries as well as in the UAE, Dubai, Qatar, Bahrain, Saudi Arabia, and China. Subsequently, we operate in several of the major European countries including the Netherlands, the UK, Switzerland, France and undoubtedly Germany.

Real Estate:

  • Sharia-compliant investments, to purchase commercial real estate in the aforementioned countries
  • Sourcing Sharia-compliant funding for acquisitions
  • Owning residential dwellings for the family, to preserve confidentiality
  • Acquiring and owning any type of real estate (under construction or completed)


  • Trust development and administration
  • Private Trust Company development and administration (where the directors are made up of simply associates or members of the family, the clients can preserve the trust assets)

Liquidity Management/Structuring of Contracts:

  • Preparing and advising on the main Islamic contracts (Salam, Murabaha, Ijarah, Tawarruq, Modaraba and Musharaka)
  • Setting up Shariah-compliant bank accounts (Sukuk)
  • M&A transactions for Shariah-compliant vendors
  • Incorporating Sharia-compliant Bonds to fund a family business
  • Dispute Resolution for Islamic transactions
  • Tax-related issues regarding Islamic banking and financial services
  • Islamic liquidation and Financial Trade investments
  • Incorporating private finances within Mudarabah regulations, for friends or family
  • Organizing Ijarah contracts for the lease of a property
  • Interbank treasury instruments (IFIs)
  • Shariah-compliant financial products, for instance ‘profit rate swaps’
  • Setting up financial instruments

Management of Assets:

  • Ownership of any family assets (ship, aviation , paintings)
  • Management of Sharia-compliant equity finances

1 "Background". KT Bank, 2019,