International law firm Eversheds will cooperate with Hani Qurashi Law Firm, one of Saudi Arabia’s leading law firms, in operating the firm’s establishments in both Jeddah and Riyadh.

Eversheds' cooperation in Saudi Arabia is a key part of the expansion of the firm’s presence in the Gulf region. Eversheds already has offices in Doha and Abu Dhabi.

Eversheds and Hani Qurashi Law Firm have worked together on banking, real estate, commercial and corporate matters. In particular, the firms recently collaborated in connection with a number of Islamic finance based matters.

“Our relationship with Hani Qurashi Law Firm again demonstrates Eversheds commitment to the region,” said Christopher Jobson, Eversheds Managing Partner for the Middle East.

“Over the last couple of years we have focused on development in the Middle East and it’s great seeing another major milestone unfold as we build upon seamless service for clients in the region and globally.”

Hani Qurashi Law Firm founding partner Hani Al Qurashi said: "Saudi Arabia is the biggest country and economy in the Gulf Cooperation Council. Its petroleum reserves comprise about 24 per cent of the world's known reserves but more than this is what the revenues from the exploitation of these resources mean for the country."

“The government has hugely ambitious plans for the development and diversification of the country including into health, education and science and technology sectors,” he added.

“Infrastructure plans are the biggest in the region and all this together offers enormous opportunities for international and local businesses and their advisers. The present downturn in the demand and price of oil is no impediment to the realisation of these plans given the reserves available to Saudi Arabia following the prudent management of the economy by the government."

Amjad Hussain, partner and head of Islamic Banking in the Middle East at Eversheds, will oversee the new Saudi operation.

“The Saudi market place provides huge opportunities for clients as the local economy continues to grow and needs investment,” said Hussain.

“We are already working for a number of Saudi, regional and international banks and other institutions in connection with their business in Saudi Arabia and our formal cooperation is a natural next step to ensure we can continue to provide our clients with the service they expect from us,” he said.

“We are pleased to see that there is much demand for our offering as an international law firm that truly understands the importance of being in tune with the conservative Islamic culture and environment in Saudi,” added a delighted Hussain. – TradeArabia News Service