NEW YORK – Global law firm Reed Smith, along with the Islamic Corporation for the Development of the Private Sector (ICD), recently held a virtual roundtable about the market opportunities for Islamic finance in asset management among multilateral development banks (MBDs).
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The ICD is the private sector arm of the Islamic Development Bank Group (IDBG).

The roundtable provided guidance to MBDs on the complexities of navigating regulatory and other key requirements in asset management investing under Islamic finance law. It discussed best practices for asset management and jurisdictional considerations for MBDs, including: an overview of the asset management landscape; asset management structuring themes and considerations; the economics of fund arrangements; and a comparative analysis of regulatory requirements associated with some fund structures available in certain jurisdictions.

The roundtable, which took place on July 5, 2022, was led and moderated by Mark Pedretti, Reed Smith’s global chair of private equity and Executive Committee member. Panelists included Reed Smith partners Claude Brown, Tim Dolan, Shervin Shameli, Adela Mues and Waseem Khokhar.