RIYAD BANK v AHLI UNITED BANK PLC

[2006] 2 Lloyd's Rep. 292

COURT OF APPEAL

Before Lord Justice Buxton, Lord Justice Longmore and Lord Justice Neuberger

Banking - Defendant bank agreeing to provide technical services to claimant bank in establishing investment fund which did not contravene Islamic lending principles (“Sharia-compliant”) - Fund established by claimant in England based on model of defendant’s own fund - Investors in fund able to invest in equipment leases - Claimant’s fund subsequently suspended following poor performance - Whether defendant owed a duty of care to claimant - Whether defendant had assumed responsibility towards claimant - Measure of damages.