Ahmed & Qazi



  • Bristol University (LL.B. and LL.M., First Class) 2000
  • Joined Clifford Chance, London 2002
  • Admitted as a solicitor in England & Wales 2004
  • Partner since 2011
  • Relocated to Dubai 2011

Career and qualifications

Awards and citations


With an unrivalled breadth of experience and knowledge in this area and having pioneered the use of new financial products and legal structures in the country, we advise across the full spectrum of legal banking and finance matters, ranging from financial regulation, product development, cross-border finance transactions, structured and project finance, Islamic finance, securitisations, debt capital markets to financial restructuring.

We primarily act as counsel for local, regional and international banks and financial institutions as well as borrowers and sponsors in financing transactions in a wide range of industry sectors, including infrastructure, power, oil and gas, textile, natural resources, financial services, renewables, media, transport, pharmaceutical, real estate, construction and technology.  Our clients rely on our legal advice on day-to-day, routine banking and finance matters as well as for our expertise in complex, pioneering, cross-border banking and finance transactions for some of the world’s most prominent financial institutions and corporations.  Our strength in this practice area has been consistently recognized by Chambers and Legal 500 for many years.

Legal 500: “The very impressive team at Ahmed & Qazi receives plaudits for its in-depth industry knowledge and cost-competitive services. Its reputation in banking and finance ensures a regular flow of work from financial institutions, as well as corporate and building companies”.

Legal 500: “The superb legal team at Ahmed & Qazi is capable of providing efficient and professional services in all areas of banking requirements and is a popular choice for financial institutions in recovery litigation.”

Chambers: “A very good team. The have an astute understanding of the laws and are very proactive”.


Represented a syndicate of over ten banks and financial institutions, including Habib Bank Limited, National Bank of Pakistan, the Islamic Corporation for the Development of the Private Sector, the OPEC Fund for International Development and Deutsche Investitions und EntwicklungsgesellschaftmbH (DEG), in a long-term project finance, for the purpose of funding the expansion of the borrower’s cement production capacity, comprising (a) a PKR 16.2 billion diminishing musharaka facility, (b) a US$35 million cross-border Islamic term facility, and (c) a €15 million conventional term loan.

Acted as counsel in Pakistan’s first ever issuance of commercial paper with Orix Investment Bank Pakistan Limited as the lead advisor and arranger.

Acted as transaction legal counsel for Pakistan’s third SECP-approved securitization transaction and the first ever listed securitization transaction in Pakistan; and subsequently for Pakistan’s largest securitization transaction valuing PKR 1 billion, which was listed on the Karachi Stock Exchange.

Acted as the transaction legal counsel in the first seven (out of eight till date) securitization transactions in Pakistan that were properly approved by the Securities and Exchange Commission of Pakistan.

Acted as creditors’ legal counsel in the restructuring of over PKR 17 billion debt of Azgard Nine Limited in respect of which we drafted, negotiated and filed creditors’ scheme of arrangement in the Honourable Lahore High Court. After addressing all public objections to the satisfaction of court and getting the scheme approved, we acted for, advised and provided end-to-end assistance to the scheme agents, the security agent, the investment agent and more than 100 creditors, including more than 20 institutional creditors, in the implementation of the scheme, which included but was not limited to devising a fresh, workable security arrangement inter se the creditors, two privately placed term finance certificates issues, issuance of sukuk certificates, fresh settlement agreements, sale of two manufacturing units of the obligor and a rights issue.

In relation to the biggest default (PKR 58 billion) in Pakistan’s history, advising The Bank of Punjab, Habib Metropolitan Bank Limited and other leading banks and financial institutions in preparing a coherent and aggressive approach and strategy to recover their outstanding claims.

As per the direction of the State Bank of Pakistan, we, together with KPMG Taseer Hadi & Co., conducted a due diligence exercise and investigation into all non-performing loans of, and sugar exports done through, certain banks and financial institutions, including The Bank of Punjab, Faysal Bank Limited and Pak Libya Holding Company (Private) Limited, to identify any lapse of procedure, disregard of law, regulatory instructions or internal policies in the process of extension of such loans or completion of export transactions and classify certain exports as “suspicious transactions”.

Acted as financiers’ legal counsel in relation to a US$100 million finance facility extended by the financiers, including Industrial and Commercial Bank of China, Macau, to finance a coal-fired power project located at Sahiwal, Karachi.

Acted as counsel in relation to a US$10 million loan to be extended by JS Bank Limited, jointly with The Green Climate Fund (GCF), a fund established within the framework of the United Nations Framework Convention on Climate Change, to multiple borrowers for the purpose of providing tailored solutions for distributed solar PV products.

Advised, through a comprehensive report, Tinkoff Bank, Russia, one of the world’s largest digital banks, on the entire banking and finance regime of Pakistan.

Acted as financiers’ legal counsel in relation to €32 million term finance extended to Sindh Nooriabad Power Company (Private) Limited for its 52MW power plant.

Represented a syndicate of banks and financial institutions led by Dubai Islamic Bank (Pakistan) Limited in the extension of various conventional and Islamic project finance facilities aggregating PKR 1 billion to partially finance the setting up of a manufacturing and assembly plant for “Proton” brand automobiles.

Acted as legal counsel for financiers led by National Bank of Pakistan in relation to (a) PKR 5 billion letter of credit facility provided for the borrower’s Fast Track LNG Project, and (b) multiple foreign currency finance facilities valuing USD 20 million, USD 10 million and USD 5 million.

Represented the financiers including Habib Bank Limited, Askari Bank Limited, Meezan Bank Limited and Bank Alfalah Limited in a PKR 2 billion Islamic finance facility for the purpose of construction of two 10-storey luxury residential towers in Islamabad.

Represented a syndicate of banks and financial institutions led by National Bank of Pakistan in three term facilities, including a syndicated wakala facility, extended to Power Holding (Private) Limited valuing PKR 15 billion, PKR 25 billion and PKR 40 billion respectively.

Acted as legal counsel for the financiers led by National Bank of Pakistan in the extension of a conventional project finance facility of PKR 2.4 billion for the purpose of capacity enhancement of various production units owned by the borrower.

Acted as borrower’s counsel in a mix of conventional and Islamic term facilities aggregating PKR 3.24 billion availed from a syndicate of banks and financial institutions for the purpose of expanding and increasing the production of its existing steel plant.

Conducted, on behalf of our client, from time to time, portfolio due diligence exercises of the following institutions:

>  Entire portfolio National Development Finance Corporation
Various departments of Habib Bank Limited
Entire credit and non-credit portfolio of Burj Bank Limited
Loan portfolio of Allied Bank Limited
Loan portfolio of United Bank Limited
Entire housing finance portfolio of Faysal Bank Limited
>  Loan portfolio of Habib Metropolitan Bank Limited

Represented a syndicate of banks and financial institutions led by Faysal Bank Limited in the extension of various conventional and Islamic project finance facilities aggregating PKR 4 billion for the setting up of a fruit processing plant in Punjab.

Acted as legal counsel for The Bank of Punjab in the settlement of approximately PKR 2 billion debt of various Gulistan Group companies by way of, inter alia, a debt-swap arrangement in accordance with the approved schemes of arrangement for each Gulistan Group company.

Acted as local legal counsel of Allied Bank Limited in respect of a short-term trade finance of USD 5 million extended by Eco Trade and Development Bank to ABL through ABL’s Bahrain branch.

Acted as financiers’ legal counsel in respect of a term finance facility of PKR 2 billion extended by the financiers led by MCB Bank Limited to Getz Pharma (Private) Limited for the purpose of re-profiling its balance sheet and funding its capital expenditure.