Kuwait

Highlights  

ASAR Kuwait acted as Kuwait law counsel to multiple banks acting as the Managers in relation to the issuance by KFH Sukuk Company of U.S.$ 1,000,000,000 5.376% trust certificates due 2030 under its U.S.$4,000,000,000 Trust Certificate Issuance Programme. The transaction was led by Rob Little and John Cunha and closed in January 2025.  

The firm also provided legal advice and services to Beyon in connection with its bid for the PPP project launched by the Kuwait Authority for Partnership Projects (KAPP) and the Ministry of Communications for the building, development, maintenance and operation of Kuwait’s fixed telecommunication network. This included reviewing the tender documents, conducting an assessment and producing a legal report, and addressing the client’s queries on tender documents, the PPP framework, and the procurement process. Their work is currently ongoing, but a project a bid was submitted to KAPP in March 2025.  

Key Clients 

HSBC; National Bank of Kuwait; Engie; Macquarie Air Finance Group; Magrabi Group; WTE Wassertechnik GmbH; ACWA Power; Gulf Investment Corporation; Bahrain Telecommunication Company BSC (Beyon) 

Testimonials 2024-2025

“The firm has thorough legal knowledge and good business sense. They are honest, straightforward and easy to deal with.” (M&A) 

“They are very responsive and have a good attitude and approach.” (M&A) 

“ASAR were very easy to work with. They were approachable and responsive whenever we needed them. They offered a combination of local expertise with an understanding of how a global company such as ours works.” (Project Development) 

“I found their approach to be commercial and practical, and they helped us to secure progress despite challenging circumstances. They were often prepared to work on our matters despite being on leave and went above and beyond to help us achieve the desired result.” (Project Development) 

“The ASAR team are market leaders in Kuwait.  Ezekiel Tuma, Akusa Batwala, and others in the ASAR team were able to point to comparable projects they have advised on in Kuwait in order to explain what terms the Kuwaiti authorities were likely to accept based on precedent.” (Project Development)   

“The ASAR team is highly knowledgeable about local Kuwaiti laws and regulations, both as regards what the law currently says, how it is likely to evolve in the future and how it is actually enforced in practice.” (Project Development) 

“Akusa Batwala has bas been based in Kuwait for many years and is one of the most experienced lawyers based there on the ground.  International law firms and clients are able to depend on her local insights and expertise, which gives considerable comfort to those who are not as familiar with Kuwait.” (Project Development) 

“Ezekiel Tuma is very knowledgeable about Kuwait law, but it also able to guide us as to how laws are implemented and enforced in practice.  As someone who has been on the ground in Kuwait for many years, he has a very strong read of the market; clients value this a lot and the insights he can offer in this regard.” (Project Development) 

“Luis Cunha is responsive and pragmatic.” (M&A) 

“Luis Cunha is proactive, commercial and driven. He is solutions orientated and effectively used lateral thinking to achieve solutions to protracted problems. He frequently worked on our file while out of the office which was appreciated.” (Project Development) 

“Mustafa Sayed very ably assisted Luis Cunha throughout this transaction. He was diligent and responsive throughout and became a trusted member of our team.” (Project Development) 

“Sam Habbas has deep local knowledge, thinks with the business, offers creative solutions, and is service oriented.” (M&A)