Acting as Kuwait counsel, Al Wagayan, Al Awadhi & Al Saif recently represented ALAFCO Aviation Lease & Finance Company, K.S.C. in connection with the purchase and finance of two Boeing 737-85P Aircraft. The multi-million dollar transaction, which was conducted through off-shore entities, was completed in January, 2007.

ALAFCO Aviation Lease and Finance Company is an emergent provider of innovative Sharia-based commercial aircraft leasing products, which means that all of its financings are Islamic, involve ethical investing and are equity related, that is, solely using the genuine asset or the cash-flow it generates.