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7th Islamic Finance & Investment School

One-Stop Islamic Banking and Finance Program
 

By attending IFIS 2014 you will learn :

 

1. Fundamental of Islamic Finance
2. Regulatory, Legal and Governance
3. Islamic Banking Products and Instruments
4. Sukuk and Securitization
5. Islamic Fund and Investments
6. Takaful : Principles and Products

 

METHODOLOGY

 
This Islamic Finance & Investment School programme is structured for maximum learning with combination of lectures, group discussions, short assessmens and exercises
 

BENEFITS OF ATTENDING THIS WORKSHOP

 

1. Analyse the role of Islamic finance in the financial system of several countries in the world;
2. Learn legal, accounting, risk and governance framework and issues for Islamic finance in global market
3. Acquire the knowledge of Shariah principles in Islamic banking and finance;
4. Understand the doctrine of prohibition of riba, gharar and maysir in Islamic law;
5. Identify Islamic banking and financial products i.e. banking, Takaful and capital market;
6. Examine some Islamic capital market issues i.e. Sukuk and securitization, funds, structured products and derivatives instruments;
7. Review the issues and challenges in the implementation and development of Islamic finance around the globe.

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Prof. Dr. Engku Rabiah Adawiah is currently a Professor at the IIUM Institute of Islamic Banking and Finance, International Islamic University Malaysia (IIUM). Currently, she is a member of the Syariah Advisory Council (SAC) of Bank Negara Malaysia and Securities Commission Malaysia, and an independent Shariah advisor for Islamic securities issuance, approved by and registered with the Malaysian Securities Commission. She is also a member of Shariah Supervisory Board of Labuan FSA. In addition, she is also a member of the investigation tribunal for the Malaysian Bar Council. She obtained her LLB (First Class Honours) and LLB (Shari’ah) (First Class Honours) from the IIUM. Shortly thereafter, she successfully completed her Masters of Comparative Laws (MCL) with distinction from the same university. She was conferred with PhD in Law (Securities Regulation) from the University of Aberdeen, United Kingdom.
  
ASSOC. Prof. Dr. Aznan Hasan is currently a lecturer at the IIUM Institute Islamic Banking and Finance , International Islamic University Malaysia (IIUM). Currently he is a member of Shariah Advisory Council of Securities Comission Malaysia. He also an independent Shariah advisor for Islamic securities issuance, approved by and registered with the Malaysian Securities Commission. He received his first degree in Shariah from from University of Al Azhar, Egypt. He then successfully completed his Master Degree in Shariah from Cairo University with distinction and the board of examination has recommended that his thesis be published. He then obtained his PhD in Islamic Law from the University of Wales in United Kingdom. He also serves as a member of Shariah committee to one of the leading financial institutions in Malaysia. He taught several subjects such as Islamic legal theory and Islamic law of transactions.
  
Mohd Tarmidzi Ahmad Nordin is an advisor for ACR Retakaful SEA. He was CEO of Etiqa Takaful Berhad and CEO of Takaful Nasional Sdn Berhad. He has led Takaful Nasional Sdn Berhad in the merger of the Takaful companies under Maybank. Prior to this appointment, he was the CEO of Mayban Takaful Berhad since its inception in December 2001. He played a key role in the meteoric rise of Mayban Takaful and it was under his leadership that Mayban Takaful made its mark as the leader in bancatakaful. He started his career as a broker in 1977 in the general insurance industry. His experience spans from being one of the founding members of the country’s first takaful company in Malaysia to gaining valuable insight with an international loss adjustment company. It is this passion that drives him to share his knowledge through conducting classes in all areas of insurance throughout Malaysia and other part of the world as well as publishing industry-related literature. He holds an MBA in Islamic Finance from the International Islamic University, Malaysia. And he is also an Associate of the Chartered Insurance Institute (UK) and the Malaysian Insurance Institute.

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2 June 2014 (Monday)

 

FUNDAMENTAL OF ISLAMIC FINANCE

 

Pre Assessment

 

Session 1 – Islamic Principles & Business Contracts in Islamic Financial Services

 
Framework of Islamic finance
Shariah, Fiqh and Muamalat
The do’s and dont’s in Islamic finance
Essential business contracts for Islamic financing
Products and instruments
Standardisation and harmonisation Islamic finance
 

Session 2 – Regulatory Framework, Legal & Governance in Islamic Finance

 
What laws apply?
The law of the country?
Regulatory framework
Documentation and litigation issues?
Which court has jurisdiction over Islamic banking transactions?
Cross border transaction
Updates and review of cases in Islamic finance
Arbitration in Islamic banking
Shariah Governance for Islamic Financial Services
 

ISLAMIC BANKING PRODUCTS AND INSTRUMENTS

 

Session 3 – Islamic Asset Financing

 
Murabahah – based property financing
Istisna’ – based property financing
Ijarah-based property financing
Financial lease
Musharakah Mutanaqisah – based property financing

 

Session 4 – Islamic Cash & Trade Financing

 

Islamic debit card, charge card and credit card
Islamic cash financing (working capital financing)
Islamic personal financing
Commodity Murabahah
Letter of credit based on Wakalah
Letter of credit based on Murabahah
Letter of credit based on Mudarabah
Operational issues of Islamic trade financing
 

DAY TWO 3 June 2014 (Tuesday)

 

Session 5 – Islamic Projects Financing & Deposit Services

 

Murabahah
Istisna’
Forward lease
Operational issues of Islamic project financing
Deposit services products
Islamic saving and current account
Reverse Commodity Murabahah
Wadiah and Wadiah Yad Damanah
Contract of Daman/Kafalah
Types and issues of Islamic investment accounts
Negotiable Islamic debt certificates
Government investment certificates
Islamic credit/charge card

 

Session 6 – Islamic Corporate Financing

 

Framework of Islamic corporate banking
Project financing
Syndicated financing
Securitization
Revolving financing
Foreign exchange
Islamic overdraft

 

TAKAFUL : PRINCIPLES AND PRODUCTS

 

Session 7 – Takaful: Principles & Business Contracts

 
Philosophy and concept of Takaful
Shariah principles on Takaful
Indemnity in Islamic law
Riba & Gharar in Takaful practice
Jahalah and Maysir in Takaful practice
Principles of Takaful
Theory of contract in Islamic law
Classification of contracts in Takaful

 

Session 8 – Family & General Takaful Products: Models & Operational Issues

 
Family and general Takaful products
Flow of family and general Takaful operations
Characteristics of the plan
Products of family and general Takaful
Business operations of family and general Takaful
Review of the model @ structure
 

DAY THREE 4 June 2014 (Wednesday)

 

ISLAMIC FUND AND INVESTMENTS

 

Session 9 – Islamic Equity Markets (Shares) & Mutual Funds

 
Equity market
Islamic equity vs conventional equity
Islamic structure of equity products and instruments
Islamic principles in share-holding
Issues in share-holding
Islamic financial contracts – Mudharabah & Musharakah
Why the need for Islamic stock selection?
Islamic stock selection – screening process
Method of selection (DJIM, FTSE, SC etc.)
Islamic compliance criteria and their basis
Islamic unit trusts
Underlying contracts
Issues in Islamic mutual funds

 

Session 10 – Islamic Real Estate Investment Trusts (REITs) : Prospects & Opportunities

 
What is a REIT?
Track-record of REITs in the Asian Region
Islamic REIT vis-à-vis conventional REIT
Structure of Islamic REIT
Regulation & experience of Islamic REITs
Case studies on Islamic REIT
Global Islamic REITs: Issues & challenges?
Taxation issues prospects & opportunities for Islamic REITs
Potential investor base

 

Session 11 – Islamic Structured Products

 
Structured finance : An overview
Risk transfer instruments
Illustration of securitisation
Structured product under SC’s guidelines
Leading structures of structured product
Interest/Profit rate swap/exchange
Features of interest / profit swap
Islamic solutions methodology
Proposed Islamic profit rate swap
Islamic profit rate swap: An overview
Equity Linked Notes (ELN)
Note on Islamic option
Futures contract
Islamic forward FOREX
Islamic solutions to FOREX
Islamic structured products: The way forward

 

Session 12 – Islamic Derivatives Instruments

 
Islamic derivatives
Are Islamic derivatives a need
Islamic potential contracts
Principles for Islamic structured products
Shariah issues for deliberation
Islamic derivatives instruments : The way forward

 

DAY FOUR 5 June 2014 (Thursday)

 

SUKUK AND SECURITIZATION

 

Session 13 – Sukuk : Murabahah, Istina’ & Salam

 
Islamic bond : an overview
Features of (Islamic) Sukuk
Islamic securities (IS) – Additional features
Structuring Islamic securities
Islamic securities based on Qardul Hasan
Islamic securities based on Murabahah
Shariah observations on Murabahah
Islamic securities based on Istisna’
Islamic securities based on Salam

 

Session 14 – Sukuk : Ijarah, Mudharabah & Musharakah

 
Islamic securities based on Ijarah
Sukuk al Ijarah structure
Sukuk al Ijarah – rental structure
Mudharabah Sukuk
Musharakah Sukuk
 

Session 15 – Islamic Asset Backed Securities & Hybrid Sukuk

 
Musharakah/Musharakah Mutanaqisah Sukuk
Islamic asset backed securities
Hybrid sukuk issuances
Risks and issues
 

Group Exercise

 
In this Session, delegates are asked to structure Islamic Banking & Islamic Capital Markets products using several Islamic financial contracts based on the case studies given. The general aim is to equip delegates to understand and how to structure Islamic financial products.
 

Post Assessment

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EARLY BIRD FEE: Before 8 May 2014

RM2,000.00 / USD700.00 per person
 

REGULAR FEE: After 8 May 2014

RM2,500.00 / USD850.00 per person
 
*The fee includes lunch, refreshments, workshop documentation and certificate of attendance.
 

Special group discount

– Discount of 5% for 2 participants from the same organisation.
– Discount of 10% for 3 or more participants from the same organisation.
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How to pay

Workshop fees must be paid before commencement of the programme. All cheques should be crossed and made payable to “CERT Events Sdn. Bhd.” After receiving payment a receipt will be issued. If you do not receive a letter outlining details two weeks prior to the event please contact the event coordinator at CERT Event.
 

Accommodation

Hotel is not included in the workshop fee. To reserve accommodation at the event venue, please contact the hotel person in charge.
 

Cancellations

If you are unable to attend, a substitute is welcome at no extra cost. A complete set of workshop documentation and a 50% refund will be given for cancellation received in writing not later than 2 weeks prior to the workshop date. Unfortunately, only a 25% refund and documentation workshop will be given for cancellation received within 2 weeks before programme commencement.
 
CERT Events Sdn. Bhd. reserves the right to cancel/amend the programme in extreme circumstances. Should this occur, they will endeavour to advise delegates at the earliest opportunity but take no responsibility for any irrecoverable costs on the part of the delegates, eg. air fares, hotel costs. Obviously, attendance fees would, in such circumstances, be fully refundable at the delegate’s option.
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