The Chancellor Guide to the Legal and Shari'a Aspects of Islamic Finance Authors

Chapter 10: Shari’a Compliant Project Finance: A Structural Overview

By Michael J. T. McMillen
Partner
Fulbright & Jaworski L.L.P.

Michael J. T. McMillen is a Partner with Fulbright & Jaworski LLP, New York, USA.

Michael joined the Fulbright & Jaworski LLP's corporate practice group as a partner in 2008. His primary practice location is the firm's New York office, where he focuses on Islamic finance, project finance and structured finance.

He has twice been a recipient of the award for Best Legal Advisor in Islamic Finance by Euromoney Magazine, and the recipient of the Sheikh Mohammed bin Rashid Al-Mahktoum award as Best Legal Advisor in Islamic Finance in North America.

Michael teaches Islamic finance at the University of Pennsylvania Law School and the Wharton School of Business, and publishes and speaks frequently on Islamic finance and project finance topics.

He has taken the lead in various legal aspects of the capital markets initiative of the Islamic Financial Services Board, including topics such as the enforceability of the Shari’a in different jurisdictions throughout the world, the use of sukuk (particularly asset securitization sukuk) as a backbone element for Islamic capital markets, the use of trust concepts in OIC jurisdictions (including civil law jurisdictions), and securities and capital markets laws in OIC jurisdictions, particularly as they relate to Shari’a-compliant instruments, structures and transactions.