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

(Managing Director, Dr. Buraq al-Hamdy, lays out the firm’s current and future strategy, tools and vision)

 

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

As a local firm, we maintain a strong and credible network with the legal and governmental bodies who refer to our team for consultation and advice on existing or new laws. Additionally as we greatly value our human capital, retention, diversity and internal growth are major areas of focus from a corporate perspective, which we think sets us apart as a firm boasting a pool of local and international clients. Simultaneously, we encourage our team members to develop their knowledge, build upon their accumulated expertise, and capitalize on increasing familiarity with the Iraqi legal landscape to hone their personal and professional skills and better serve our client base.

 

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

Based on our interaction with local and international clients, we do envision a more frequent recourse to arbitration as a main dispute resolution tool in Iraq. This is due mainly to Iraq having acceded to the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards, 1958. We do also expect the rapidly-changing Taxation and Pension and Social Security laws and regulations to play a more prominent role going forward.

 

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

We take pride in starting to employ state of the art technology as it pertains to our internal management platform, bolstered by an advanced ERP system. Also, inter- and intra-office connectivity is a constant feature to secure the team’s engagement and accessibility which applies to our clients, affiliates, and regional offices. Living in a post-Covid context, our daily practices continue to encourage remote meetings. Not only does that reduce the use of mobile transportation – and as such limit consumption of fuel and gas emissions – but it also reflects positively on costs charged to clients.

 

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

As mentioned above, introduction of technology has been a welcome development as far as our clients. Not only does it streamline processes, but it also shows our commitment to keeping pace with rapid advances. Continuous investment in advanced technology – to facilitate corporate governance, records safety and protection, communication and cyber security – is paramount, for the impact of allowing simple, timely and secure client interaction cannot be overstated.

 

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

As we endeavour to offer quality service across the board, we do always explore ways to go above and beyond what our clients expect. To that effect, the main added-value strategies we employ range from providing (often unsolicited) regular legal updates to implementing robust follow-up procedures. And from paying periodic in-country and out-of country visits to clients to devising the most competitive rate structures. Any “extra” service makes a difference, from our perspective. Not only does exceeding our clients’ expectations form a reliable source of satisfaction, but it also solidifies the mutual bonds and leads a good majority of them to retain our services. There is no better translation of an added-value-driven service than a client base constantly satisfied.

 

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

Intrinsic to the market dynamics, clients do normally seek suitable solutions and legal advice from their trusted law firms. However, given the ever-changing business landscape in Iraq, it is never a linear process. Frequent updates to laws, and rules and regulations necessitate regular dissemination of firm-produced updates to ensure clients are always up to speed. Knowing that we are uninterruptedly on this, our clients rest assured that nothing – from a legal perspective – would slip through the cracks in a way that might negatively affect their day-to-day operation and strategic planning, alike. That being said, we equally aim to maintaining a footprint at the center of the legal arena in the Middle East, in general, and Iraq, in particular. This goes hand in hand with our essential goal to achieve Tier-1 ranking in Iraq within the next two years.