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BANKING AND FINANCIAL LAW
This is a sensitive area where some amount of specialization is required as there are too many components involved in banking law. Either the borrower or the lender is represented and the lawyer in this field will represent either of them and also look after the correct documentation. The lawyer should also look after all matters which covers the client’s interests fully, and that every issue is covered and protected.
The entire law is of a transactional nature and a major portion of work in banking and finance revolves around that. It is the job of the lawyer to complete his or her part in the transaction and move on to the next. In case a dispute arises a return to the completed transaction is necessary. A banking and finance lawyer’s work constitutes this contentious element. There are different parts of a banking law, which are acquisition, project, property, derivatives, securitization, and capital markets, as also Islamic finance.
Financial projects generally revolve around taking loans for different projects. Lending of money to companies to purchase other entities is the major field in acquisition finance. Asset finance on the other hand mainly focuses on loans; however, it in particular is concerned with the leasing or purchase of big-ticket items. Transaction falls under securitization, where a lender off-loads its loan folder to a different company. Fixing of currency rates during a transaction is the main focus area of derivatives. Where a borrowing entity issues bonds to investors is under Capital markets. Another massive area is Islamic finance, which involves loans or transactions that conform to Shariah principles.