Mike Rainey is an English qualified banking and investment finance partner based in our Dubai office.
With over 20 years of on-the-ground experience in the Middle East, Mike has represented clients on a host of cutting-edge, award-winning transactions, covering both conventional and Shari'ah-compliant financings.
Mike acts for borrowers and lenders on an array of sophisticated equity, loan and bond financings across the UAE, Saudi Arabia, GCC and EMEA markets. He regularly creates structures to successfully fund the acquisition and delivery of critical assets – such as real estate and infrastructure projects – as well as guide cross-border inbound and outbound corporate and trade investments. Mike is also active in advising on advanced financial restructurings, including many “first-of-a-kind” insolvency restructurings, such as the first Perpetual Sukuk used in connection with a restructuring under the 2018 Saudi Arabian bankruptcy law.
Mike is ranked by The Legal 500 EMEA and IFLR1000 as a "notable practitioner". He repeatedly receives prominent market accolades, with recent examples including the Saudi Arabia Awards 2025 Restructuring Deal of the Year (Arkad Engineering & Construction Company Limited SAR 2.86bn perpetual sukuk),.
Mike remains active as a market thought leader in topics such as Islamic finance and insolvency. He regularly writes articles and speaks at industry events on restructuring matters.
Latest Insights
- legal updatesGlobal payment matters - April 2026
1. Outbound: Real Estate Investment and General Banking & Finance
- advised a Kuwaiti asset manager in connection with the acquisition of a GBP 200 million portfolio of real estate assets in the UK
- advised a Kuwaiti asset manager in connection with the establishment of three private credit funds in Guernsey. The funds are providing Shari’ah-compliant financing to owners of UK real estate
2. GCC: Real Estate Investment, General Banking & Finance and Private Credit
- advised a Luxembourg private credit fund in connection with a USD loan made to a UAE property developer secured against receivables from completed projects
- advised Shorooq Partners Ltd, as the manager of Nahda Fund I L.P., closed a Shari'ah-compliant financing agreement with Nakhla for Information Technology Systems LLC (Tamara)
3. Restructuring
- advising Azmeel Construction Company, a top five Saudi Arabian construction company, in connection with its successful USD 2 billion Financial Restructuring Proceedings under the Saudi Arabian bankruptcy law. The restructuring plan has been approved and the plan is in the process of being implemented. The transaction won the 2022 IFN Awards Insolvency and Restructuring Firm of the Year
- advising a Dutch bank in connection with the enforcement of a ship mortgage registered against a ship owned by a Saudi Arabian company
- April 30, 2025 [Speaking Engagement] - Michael Rainey and Asal Saghari to Speak at the Evolution of Private Credit
- February 17, 2025 [Speaking Engagement] - Michael Rainey to Speak at the 3rd Annual Financial Restructuring MENA Conference
- January 22, 2024 [Speaking Engagement] - Mike Rainey to Speak at INSOL Riyadh Conference
- June 8, 2023 [Speaking Engagement] - Mike Rainey and Asal Saghari to Speak at Islamic Finance Power Roundtable
- March 16, 2023 [Speaking Engagement] - Michael Rainey to Speak at Financial Restructuring MENA Conference
- March 15, 2023 [Speaking Engagement] - Michael Rainey, Zaid Al-Farisi, Asal Saghari to Speak at Financial Restructuring MENA Conference
- October 13, 2022 [Conference] - Part II: Optimal Structures for Investing in the US, UK and Europe held in Dubai, United Arab Emirates
- October 4, 2022 [Conference] - Part I: Optimal Structures for Investing in the US, UK and Europe held in Riyadh, KSA
- Leading Partner - Banking and finance, Saudi Arabia - Legal 500 EMEA 2025
- Recommended Lawyer – Real Estate – Legal 500 EMEA 2025
- Recommended Lawyer – Banking and Finance: Corporate Finance (including Islamic Finance) – UAE – Chambers Global 2025
- Notable Practitioner – Islamic Finance – Middle East Wide – Chambers Global 2025
- Shortlisted for Banking, Finance & Restructuring Team of the Year - Law.Com Middle East Awards 2024
- Recommended Lawyer – Real Estate UAE – Legal 500 EMEA 2024
- Recommended Lawyer – Banking and Finance: Corporate Finance (including Islamic Lending) – UAE – Legal 500 EMEA 2024
- Recommended Lawyer – Banking and Finance – Saudi Arabia – Legal 500 EMEA 2024
- Notable Practitioner – Islamic Finance – Middle East Wide – Chambers Global 2024
- Recommended Lawyer – Banking and Finance – Corporate Finance (including Islamic Finance) – UAE – Legal 500 EMEA 2023
- Recommended Lawyer – Banking and Finance (including Islamic Finance) – Saudi Arabia – Legal 500 EMEA 2023
- Notable Practitioner – Real Estate – UAE – Chambers Global 2023
- Notable Practitioner – Islamic Finance – Middle East Wide – Chambers Global 2023
- Ranked as “notable practitioner” - The Legal 500 EMEA and IFLR1000, 2022
- England & Wales (2001)
- M.Com.Law, University of Auckland, New Zealand, honors
- LL.B., University of Otago, New Zealand
- B.Comm., University of Otago, New Zealand
- SRA England and Wales (Admitted on 16/01/2006)