Himali heads the banking and finance practice group of the firm.
Himali has over 15 years’ of experience in advising local and international banks and other international financial institutions including multi-lateral and bi-lateral lending agencies in relation to their debt financing transactions in Sri Lanka including conventional debt financing, project financing of infrastructure projects, as well as on other new investment and structured finance products including asset backed securitisations, derivatives and Islamic financing products.
She also advises local and international banks and other financial institutions including payment services providers on the legal and regulatory framework applicable to the banking and financial services sector in Sri Lanka.
In addition to the banking and finance practice group, Himali advises on shipping and logistics related laws and regulations for local and international shipping companies, shipping agents freight forwarders and other logistics services providers.
Before joining FJ&G de Saram, Himali worked as in-house counsel for National Development Bank of Sri Lanka, focusing on the facility and security documentation for all types of the bank’s lending products.
Himali holds a master’s degree in International Trade Law from the University of Wales in addition to a Bachelor of Laws degree from the University of Colombo.
Himali has advised local and international banks and other international financial institutions including multi-lateral and bi-lateral lending agencies in numerous local and cross border debt financing transactions in Sri Lanka on aspects such as local legal and regulatory issues pertaining lending to the Government of Sri Lanka, state owned enterprises and corporations, financial institutions and other general corporate entities, exchange control, legal and regulatory authorisations required for the business operations of the borrowers as well as for the borrowing and the legal and security documentation pertaining to the financing transactions and issuing legal opinions on the validity and enforceability of such documents in Sri Lanka.
Himali has advised both the issuer (the Government of Sri Lanka) and the joint lead managers from time to time in connection with the international sovereign bond issuances by the Government of Sri Lanka from 2006 to 2018. Work handled included advising on the offering to ensure compliance with Sri Lankan legal and regulatory regimes, acting for Central Bank or the joint lead managers (as the case maybe) during the due diligence studies on the Government of Sri Lanka conducted by the lead arrangers to the Issue & their legal counsels, advising on the offering circulars, the terms and conditions of the bonds, the purchase agreements between the Government of Sri Lanka and the lead arrangers, the indentures between the Government of Sri Lanka and the trustees and issuing Sri Lanka law opinions to the lead arrangers.
Himali led the study on the legal and regulatory framework of the financial system of Sri Lanka by an international multilateral financial institution (which entailed an analysis of all relevant local finance sector related laws applicable to the Central Bank, banking institutions, non-banking financial institutions, capital markets, financial sector infrastructure, financial consumer protection, debt recovery, creditors’ rights, insolvency regime, judicial system and alternative dispute settlement) against international principles and standards, the identification of the effectiveness of existing laws as well as shortcomings thereof, and the compilation of a comprehensive report thereon including recommendations to address shortcomings and meet international standards.
In addition, Himali has significant experience and expertise on the microfinance industry in Sri Lanka which includes leading the study on the laws and regulations impacting financial institutions in Sri Lanka with particular focus on government policies and practices pertaining to the microfinance sector including on the issue of deposit mobilization as well as a proposal for reforms, for a federally owned international cooperation enterprise of a European country and professional association in Sri Lanka. She also has advised several microfinance institutions on restructuring of their organisations, licensing and compliance requirements.
Himali has also advised banks and other financial institutions (local as well as international) on the legal and regulatory framework in the banking and financial services sector including major international banks seeking to establish a branch in Sri Lanka and banking and other financial institutions proposing to do business or offer banking and other financial services on a cross border basis.
Himali has expertise in Islamic financing products and frequently advises on the local legal framework applicable to Islamic financing products including preparing the documentation for various types of Islamic financing products.
In the financial services sector, Himali has advised providers of payment and settlement services on the legal and regulatory framework applicable to digital payment services.
In the banking and finance area, Himali has advised clients such as an international financial institution that offers investment, advisory and asset-management services to encourage private-sector development in less developed countries, a regional international development bank in Asia, an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects., a public financial institution in France, a Development Finance Institution in France, the primary U.S. banking subsidiary of a financial services multinational, a German multinational investment bank and financial services company, an American multinational financial services company, a British universal bank, Dutch multinational banking and financial services corporation, the integrated retail and corporate banking unit of one of the largest financial services companies in Japan , one of the largest banks in Japan, a Singaporean multinational banking and financial services corporation, a German universal bank, a Dutch entrepreneurial development bank, a development bank in China, an institutional bank in China chartered to implement the state policies, the world’s largest cooperative financial institution, a Japanese financial holding company, an American multinational financial services company and one of the largest payment-processing corporations worldwide.
In the area of shipping and logistics, Himali has advised several global shipping companies and freight forwarders on setting up companies to carry on shipping agency business or international freight forwarding business in Sri Lanka by advising on foreign direct investment regulations, structuring the investment and setting up the joint venture, drafting joint venture and shareholder agreements, licensing and compliance requirements as well as concessions agreements and business operations agreements including licensing contracts, shared services contracts and other contracts related to their commercial operations.
Himali Mudadeniya has extensive experience in this sector and has in-hand knowledge on the current laws regulations and banking practices. Her work experience in the banking sector has been a bonus when consulting her for advice. Her advice is very practical and user friendly.