Founding Partner, Head of Banking and Finance group and Deputy Chair of the Executive Committee
Ashraf Ihab is a founding partner, head of banking and finance group and deputy chair of the Executive Committee of Zulficar and Partners Law Firm. A practicing attorney for more than 35 years, and he is well known as one of the leading lawyers in the banking field in Egypt.
Before cofounding Zulficar and Partners, Ashraf was a senior partner, member of the executive committee and head of contracts and advisory group at Shalakany Law Office.
Ashraf is specialized in banking and finance. He drafted, negotiated, advised and concluded numerous syndicated loan and credit facility agreements, debt rescheduling agreements and related security documents. He assisted major banks in the preparation of banking standard forms as well as Islamic finance agreements. Moreover, he handled transactions pertaining to issuance of bonds, securitization, sukuk, factoring, companies restructure and increase or reduction of the capital of Egyptian companies.
Ashraf provided legal advice to domestic and international clients including banks, financial institutions and other industries on banking law, Central Bank of Egypt regulations, Islamic finance, financial leasing, mortgage finance, consumer finance, and micro-finance laws. He also, handled required procedures for obtaining governmental approvals for the establishment of microfinance entities, issuance of related licenses, and drafting all the relevant agreements and documentation. He also, represents leading banks in Egypt in litigation and settlement of disputes.
Ashraf represented renowned multinational and local banks and companies (as either lenders or borrowers) in several facilities and syndicated loans including but not limited to Commercial International Bank, Arab African International Bank, National Bank of Egypt, Banque Misr, Ghabbour Auto, TAQA Arabia, EFG Hermes Holding, African Export-Import Bank (Afreximbank), Audi Bank, National Bank of Oman, African Export-Import Bank, National Bank of Canada, World Bank, Citibank, Sky Finance, Blue Bay Management Company, Cairo Investment for Real Estate Development (CIRA), Fawry …Etc.
Since the early 90’s, under the Egyptian government’s privatization program, Ashraf was involved in the privatization of several Egyptian public sector companies. Representing sellers or buyers, he handled numerous merger and acquisition transactions for private sector companies in Egypt, conducting legal due diligence and carrying out all the required procedures for the transfer of shares before the Capital Market Authority, as well as drafting shareholders’ agreements and sale of shares agreements.
Ashraf was appointed as a Board Member in the Egyptian Industrial Development Bank, Cairo, Egypt from the period from 2000 to 2005. Also, during 2005-2006, Ashraf was the General Counsel of Mashreq Bank, Dubai – UAE.
Since 2015, Legal 500, and Chambers and Partners acknowledged Ashraf as a Leading Lawyer highly recommended in banking and finance field. Moreover, in 2020, Chambers Global ranked Ashraf as a Band 3 lawyer in Banking & Finance Lawyer known as well versed in the challenges of representing prominent financial institutions and has a notable specialism in micro finance. In 2021, Chambers Global ranked Ashraf as Band 3 in Banking & Finance Lawyer and Band 2 in Capital Markets Lawyer.
Ashraf is a member of the Egyptian Bar Association and International Bar Association since 1985.
Working languages: Arabic and English.