Mike is an English‑qualified banking and investment finance partner based in the Dubai office. He has over two decades of on‑the‑ground experience in the Middle East, advising on complex and innovative financing transactions across the UAE, Saudi Arabia, the wider GCC and EMEA.
Mike advises borrowers and lenders on sophisticated equity, loan and bond financings, including both conventional and shari’ah‑compliant structures. His work spans real estate, infrastructure, private credit, trade and investment financing, as well as complex cross‑border inbound and outbound investments.
He is particularly well known for his work on financial restructurings and insolvency‑related matters, including a number of first‑of‑a‑kind transactions in the region. This includes advising on the first perpetual sukuk utilised in connection with a restructuring under the Saudi Arabian Bankruptcy Law, positioning him as a leading adviser at the intersection of Islamic finance and restructuring.
Mike is recognised as a notable practitioner by Legal 500 EMEA and IFLR1000 and regularly features on award‑winning transactions, including Saudi Arabia Awards 2025 – Restructuring Deal of the Year for the Arkad Engineering & Construction Company Limited SAR 2.86 billion perpetual sukuk.
He is an active market commentator on Islamic finance and restructuring topics and regularly writes and speaks at industry events.
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- legal updatesGlobal payment matters - April 2026
1. Outbound investment, real estate and private capital
- advised a Kuwaiti asset manager on the acquisition of a GBP 200 million portfolio of real estate assets in the UK
- advised Albilad Investment Company on the acquisition of a commercial property in Belfast, Northern Ireland, financed on a shari’ah compliant basis, representing the largest office sale ever completed in Northern Ireland
- advised a Saudi family office on a shari’ah compliant facility to fund the acquisition of land for development in Vauxhall Cross, London, and the subsequent restructuring of that facility
- advised KFH Capital Investment Company on the establishment of three shari’ah compliant UK real estate funds in Guernsey and, following formation, on five acquisitions comprising logistics warehouses, retail parks and a UK retail portfolio, all structured and financed on a shari’ah compliant basis
- subsequently advised KFH Capital Investment Company on the restructuring and refinancing of a number of those facilities and on successful exits, including a distribution warehouse in Peterborough
- advised a Kuwaiti asset manager on the establishment of three private credit funds in Guernsey providing shari’ah compliant financing to owners of UK real estate including acting for the funds on the financing arrangements which used back leverage
- advised a Saudi Arabian family office on the buy out of a 50% interest in a European packaging business from its joint venture partner, including acquisition financing
- implemented alternative shari’ah compliant investment structures enabling Middle East investors and asset managers to invest in alternative products in Europe and the US, advising clients including American Landmark, Flagship Healthcare Properties, Pacific General Holdings, Riyad Capital, Global Gate Capital, MASIC, Warba Bank and Barings
2. GCC real estate, banking and private credit
- advised Nomura Singapore Limited, together with TOR Asia Credit Opportunity Master Fund III LP, on a USD 100 million mezzanine private credit facility financing an ultra luxury residential development and beach resort in Dubai
- advised a Luxembourg private credit fund on a USD loan to a UAE property developer secured against receivables from completed projects
- advised Shorooq Partners as manager of Nahda Fund II on a shari’ah compliant financing agreement with Abhi Limited
- advised Shorooq Partners as manager of Nahda Fund I on a mezzanine shari’ah compliant financing agreement with Nakhla for Information Technology Systems (Tamara)
- advised a Dubai based real estate developer on the financing of over AED 2 billion of real estate developments
- advised a Saudi Arabian private credit fund on a SAR 250 million financing facility to a Saudi financing company, winner of IFN Commodity Deal of the Year 2022
- advised a club of Saudi banks on the SAR 1.3 billion refinancing of a commercial tower owned by Tadawul Real Estate Company in the King Abdullah Financial District, Riyadh
- advised a Saudi bank on SAR 2 billion and SAR 1.7 billion facilities used to acquire land for residential development
3. Restructuring, insolvency and special situations
- advised Azmeel Construction Company on its USD 2 billion financial restructuring proceedings under the Saudi Bankruptcy Law
- advised Arkad Engineering & Construction Company Limited on its SAR 3 billion financial restructuring proceedings, including the issuance of a perpetual sukuk, winner of Saudi Arabia Awards 2025 Restructuring Deal of the Year
- advised a Saudi hospital operator on its protective settlement procedures under the Saudi Bankruptcy Law
- advised a Dutch bank on the enforcement of a ship mortgage registered against a vessel owned by a Saudi Arabian company
- advised an oil services company acting as a creditor in Saudi financial restructuring and liquidation proceedings
- advised a Saudi real estate developer on disputes with its main contractor
- 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)