Structuring Islamic Financial Products

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2-Day Workshop : New Approach Towards Dedicated Practitioners Capable of Structuring Shariah Compliant Islamic Financial Instruments

 
Exploring Islamic Commercial Law as a Tool in Developing and Structuring Islamic Financial Products
 

Topics to be discussed

 

Fundamentals In Structuring Islamic Financial

  1. Products: Shariah Framework And Legal Maxims
  2. Islamic Transaction in Islamic Banking & Finance: An Overview
  3. Essential Contracts Business in Islamic Banking and Finance
  4. Structuring Islamic Financial Products – Criteria and Techniques

 

Structuring Islamic Financial Products: Application & Recommendation

  1. Structuring Sale Based (Bay’) Products in Islamic Finance
  2. Structuring Leasing (Ijarah) Products in Islamic Finance
  3. Structuring Partnership (Shirkah) Products in Islamic Finance
  4. Supporting Contracts in Islamic Banking and Finance

 

Benefit of Attending This Workshop

 

  1. Understand the Shariah principles and legal maxims (qawaid fiqhiyyah) which are peculiar to developing and structuring Shariah compliant products in Islamic finance
  2. Understand the features of every contract in its original status as documented in Islamic fiqh.
  3. How to apply islamic fiqh effectively for structuring new products
  4. Enhance the horizon of practitioners towards product development and product enhancement
  5. Explore and update current issues or fatwas in Islamic finance from Malaysia and Middle East
  6. Review and update the Shariah and fiqh issues and challenges in the implementation and development of fiqh al Mu`amalat in Malaysia and around the globe.

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PROF. DR. ENGKU RABIAH ADAWIAHProf. 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. RUSNI HASSANAssoc. Prof. Dr. Rusni is currently the Deputy Dean of IIUM Institute of Islamic Banking and Finance, International Islamic University Malaysia (IIUM). She graduated with LLB (Honours) and LLB (Shariah) (First Class Honours) from IIUM. She also holds a Master of Comparative Laws from IIUM. She was later, completed her PhD in Law with specialization in Islamic Commercial Law. Dr Rusni teaches both Islamic Banking and Finance for both undergraduate and post graduate levels. Her area of specialization includes Islamic Banking and Finance, Islamic Capital Market, Takaful, Islamic Law of Transactions and Islamic Jurisprudence. Currently she is a member of Shariah Advisory Council (SAC) of Bank Negara Malaysia. She was a member of Shariah Committee for HSBC Amanah and a registered Shariah Unit Trust Advisor with the Securities Commission Malaysia. She presented papers for several international conference and seminars locally and abroad. She has spoken extensively in seminars, workshops, conferences and trainings on various Islamic Banking and Finance issues. Her publication includes articles of journals, Shariah Law Reports and other publications.
  
MOHD NAZRI CHIKMohd Nazri Chik currently a candidate for Doctorate in Business Administration with Northern University of Malaysia. He is a holder of a Master’s Degree and Bachelor Degree in Shariah (Islamic Jurisprudence) from Academy of Islamic Studies, University of Malaya. In June 2004, he joined Bank Islam and served the Bank for five years in various positions including Senior Manager – Head of Shariah Department. He left Bank Islam in September 2009 to join Noor Investment Group, Dubai UAE as its Shariah Audit Manager for a brief period and during this time, he has been appointed as a member of the Shariah Supervisory Council until he rejoined Bank Islam as its Assistant General Manager – Head of Shariah Division in January 2011. He is also an Accredited Trainer for Islamic Banking and Finance Institute of Malaysia and a member of the Shariah Supervisory Council of Amana Bank Limited, Sri Lanka.

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5 May 2014, Monday

 

Islamic Commercial Law in Islamic Banking & Finance : Principles and Essential Business Contracts

History of Islamic law and the development of Islamic finance

Sources of Islamic law

Ijtihad and how it is practiced in Islamic banking and finance

Peculiar techniques of Law in Islamic Banking and Finance

Essential business contracts in Islamic Banking and Finance
 

Structuring Islamic Financial Products – Criteria and Techniques

Techniques of Law – ratiocination, equity, public interest (istihsan), legal devices,etc

Shariah compliance check list and other relevant factors i.e. legal, accounting, taxation, etc

Creation of template for Islamic product development
 

Application of Legal Maxim to Islamic Banking and Finance

Islamic legal maxims in practice

5 leading Islamic legal maxims

Application to Islamic banking and finance

Product development issues

 

Structuring Sale Based Products in Islamic Banking and Finance

Essential elements of sale

Classification of sale

— Manner of cost & profit

— Time of delivery

— Method & manner of payment

— Object of sale

 

6 May 2014, Tuesday

 

Structuring Leasing (Ijarah) Based Products in Islamic Banking and Finance

Overview, concept and definition

Salient features of Ijarah contract

Rules governing the benefit & leased asset / rentals

Transfer of ownership in lease

Project financing

Application of Ijarah in Financing facilities and Sukuk Issuances
 
Case Study

  1. Ijarah Financing Products
  2. Ijarah Maufusah fi Zimmah
  3. Sukuk al-Ijarah

 

Structuring Partnership (Shirkah) Based Products in Islamic Banking and Finance

Essential and general elements and conditions of Shirkah

Types of Shirkah

Application of Shirkah

Musharakah and Mudarabah – definition, modus operandi and principles

Applications of Musharakah & Mudarabah

— Islamic project financing

— Share holding

— Islamic stock screening

— Islamic unit trust

— Islamic securities / Sukuk issuances
 
Case Study

  1. Musharakah Mutanaqisah Financing
  2. Sukuk Musharakah
  3. Sukuk Mudharabah
  4. Sukuk Musharakah Mutanaqisah

 

Supporting Contracts of Islamic Commercial Law in Islamic Banking and Finance

Delegates will be introduced to process of
developing and structuring several
instruments using supporting contracts
available in Islamic commercial law i.e.

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EARLY BIRD FEE: Before 17 April 2014

RM2,000.00 / USD700.00 per person
 

REGULAR FEE: After 17 April 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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