Dubai is set to become the gateway into Middle Eastern securitizations as a number of European-based firms take up residence in the emirate, eagerly exploring the capital market opportunities in that region.

Clifford Chance announced earlier in the month that it would be sending Partner Debashis Dey to launch a dedicated capital markets practice in the Gulf region this month. Although Clifford Chance has had a presence in this region, the bulk of the firm's work has centered on straightforward vanilla issues or sukuk (Islamic bond) financing.

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