Afsha Karim

Senior Associate

Afsha has extensive advisory and transactional experience on origination financings, real estate finance, acquisition finance and restructurings, with a particular specialism in Islamic Finance.

Afsha’s experience includes advising debtors, creditors, lead arrangers and governments on a full range of secured and unsecured financings. Afsha has spent time on secondment in the structured finance team at Deutsche Bank and the restructuring team at the Royal Bank of Scotland. Afsha has been awarded Rising Star Lawyer of the Year by IFLR.



Representative matters

The syndicate of lenders on an AED17bn conventional and Islamic financing to Nakheel PJSC which was secured against a portfolio of properties located in Dubai.
A subsidiary of public petroleum and natural gas company in relation to the USD14.2bn Jubail refinery project, which entailed the development of a greenfield refining and petrochemical plant in Saudi
Arabia. The transaction comprised financing from conventional and Islamic facilities and ECAs.
The ECAs and lenders in relation to the USD8.4bn financing of NEOM Green Hydrogen Project, a green hydrogen and green ammonia project (including solar and wind generation) in Saudi Arabia.
Qiddiya Investment Company on the Qiddiya Six Flags’ project financing supported by UKEF.
The Coordinating Committee on the AED7 billion restructuring of the debt of an Islamic mortgage provider in the UAE.



Admitted as solicitor, England and Wales, 2011


Legal Practice Course, College of Law, 2006

LLB Law, Kings College London, 2005

Allen Overy Shearman Sterling LLP (practising in the Emirate of Dubai as “Allen & Overy RLLP” pending the registration completion of the new name with the relevant UAE local authorities) is a limited liability partnership registered in England and Wales with registered number OC306763.
A&O Shearman was formed on May 1, 2024 by the combination of Shearman & Sterling LLP and Allen & Overy LLP and their respective affiliates (the legacy firms). Any matters referred to above may include matters undertaken by one or more of the legacy firms rather than A&O Shearman.