Interview with: Dr. Buraq al-Hamdy, Managing Director

What do you see as the main points that differentiate [Basrah Obelisk Law Firm] from your competitors?

We continue to capitalize on what we firmly think are our main core strengths. This draws on our wide-ranging network of legal and governmental connections, all of which refer to our team for legal consultation and advice. In order to put that network to efficient use, there is no substitute for an ever-bolstered human capital. Retention of talent and constant fulfilment of our diversity and internal growth goals are major drivers behind boasting a pool of local and international clients. The multinational aspect of the team, per se, allows us to understand the unique challenges of our diversified client base and subsequent tailoring of services that best serve their requirements and meet their expectations. No less important is the development of a client-centric culture based upon timely and proactive communication. This is an area to which we are assigning particular weight via forming strategic partnerships with external consultants – mainly in HR, finance and marketing fields – that enable the firm to expand its reach and solidify its client/market interface.

Which practices do you see growing in the next 12 months? What are the drivers behind that?

Based on our observations, market trend and clients feedback, we believe that the Alternative Dispute Resolution (ADR) will be at the forefront of growing practices in the next year and beyond. This is along with the increasingly frequent reliance on The Singapore Convention on Mediation within the context of international settlement agreements resulting from mediation by way of resolution of commercial disputes. This practice is envisioned to come further into play in addition to litigation and arbitration for the purpose of settlement of cross-border disputes.

What’s the main change you’ve made in the firm that will benefit clients?

We are attaching distinct importance to achieving and sustaining rankings with recognized international accreditation bodies. We also are unwavering in our quest for upgrading our internal management platform – namely, the advanced ERP system. This has been coupled with two efficiency-centered dimensions: our rigorous attempt to enhance financial management through tracking expenses, producing invoices, and conducting financial reporting; and further technology integration to improve overall efficiency. Our daily practices are increasingly encouraging remote meetings. With this approach, reducing the use of mobile transportation – and, therefore, limiting the consumption of fuel and gas emissions – and keeping costs charged to clients in check are placed front and center.

Is technology changing the way you interact with your clients, and the services you can provide them?

Certainly. Technology is the ultimate factor of change in more ways than one. Our clients continue to welcome development on that front. It is a testament to our commitment to staying ahead of the curve by giving clients a favorable and positive experience – from streamlining processes to keeping pace with evolving advances. Continuous investment in advanced technology and innovative solutions helps not only facilitate corporate governance, records safety and data protection, but also demonstrate our adherence to our core principle of increasing productivity and reducing costs while satisfying clients’ choices and preferences.

Can you give us a practical example of how you have helped a client to add value to their business?

In addition to the main added-value strategies we employ – from providing bilingual regular legal updates and implementing robust follow-up procedures, to paying periodic in-country and out-of country visits to clients and devising the most competitive rate structures – we are striving for helping clients add further value to their businesses by conducting pre-matter planning sessions and post-matter reviews, while engaging many of them in brainstorming sessions and training programs and linking up many of them at no additional cost.

Are clients looking for stability and strategic direction from their law firms – where do you see the firm in three years’ time?

 It is increasingly becoming evident that local and international clients, alike, are looking at law firms as their ultimate safety net of first resort, given the ever-changing business – and security – landscape in Iraq. This is an organic aspect of the market that is shaping its dynamics at present. This safety net of both choice and necessity unavoidably leads to stability, which, in turn, translates into a launchpad for strategic planning. To ensure that this particular client need is properly accommodated within our firm, we, too, have made a strategic decision to accelerate efforts to equip clients – regardless of their respective positions – with this indispensable tool. Investing in human capital and technology are the two pillars on which our strategy stands. And gradual, but firm, achievement of higher ranking within the next three years is the milestone we have set as a measuring stick of success in this regard.