Islamic Banking & Finance 2012 - Risk Reward Limited

riskrewardlimited.com

Islamic Banking & Finance 2012 - Risk Reward Limited

Islamic Banking & Finance

Banking & Financial Services


Assalamu Alaykum

Islamic finance represents an exciting element of the financial services

environment. Increasingly new standards, products and approaches

are being developed to internationally address the unique challenges

that this maturing industry requires.

At Risk Reward we have been involved with Islamic finance for many years, undertaking

a range of assignments as advisors, consultants or trainers. Addressing key issues of

internal audit, risk management and corporate governance within Islamic banking, our

work is recognised as both innovative and practical.

With clients within the global Islamic finance market from Saudi Arabia to Malaysia we

have a broad perspective on the issues, solutions and differences that exist. Our

experience of AAOIFI and IFSB rulings combined with our background in international

regulation including BIS standards as well as risk management enables us to provide the

advice and guidance that banks and financial institutions in this developing industry

require.

The risk management issues of Islamic finance are different to those of traditional banks

and the solutions can also be different. Liquidity risk specifically provides a series of

additional challenges, with shariah complaint solutions being necessary. Designing

appropriate risk mitigation techniques that effectively reduce risk in Islamic finance firms

is at the heart of our service offering.

These are exciting times for Islamic finance. We look forward to

assisting your firms in achieving their Islamic banking goals.

Dennis Cox

Chief Executive Officer

2

www.riskrewardlimited.com


About us

Established in 2002 Risk Reward is a

leading supplier of technical advisory

and tailored training services to

developed and emerging markets. Our

consulting and training services are

delivered directly by our own

consultants, or we will supply the

same consultants via intermediaries

with whom we have developed close

working relationships.

Our business offers a wide range of training and

consultancy services delivered by a pool of over

650 consultants. Each of our consultants are

experts in their fields with years of relevant

industry experience, ensuring that our courses

add value from day one and eliminate the usual

consultant learning curve delays. In every case

our consultants are able to make suggestions

based on their own considerable experience of

dealing successfully with similar challenges in their

own careers.

Risk Reward Limited are official training providers

in Islamic risk management, finance and audit

related qualifications issued by:

The Chartered Institute for

Securities and Investment

The Chartered

Insurance Institute

Association of Certified

Anti-Money Laundering

Specialists

The Institute of

Chartered Accountants in

England & Wales

Chartered Institute

of Internal Auditors

The Professional

Risk Managers’

International Association

We also conduct training for a wide variety of

accredited and certified programmes and

qualifications.

To date we have helped over 1000 banks and

financial institutions, including central banks, to

train and improve the performance of their staff.

Our trainers and courses are considered to be

among the best in the industry.

3


Expertise

The City of London is a hub for non-

Muslim international Islamic banking and

finance and Risk Reward experts have

been a part of this sector for many years.

Our Islamic experts are bankers, chartered

accountants (ACA, CIMA, ACCA) and internal

auditors qualified to traditional banking as well as

Islamic financial services, applying the Islamic

Finance Qualification (IFQ) standards as issued jointly

by the Ecole Superieure des Affaires (Beirut, Central

Bank of Lebanon) and the Chartered Institute of

Securities and Investments (CISI) in addition to the

AAOIFI and IFSB certifications.

They have worked extensively throughout the Gulf

Cooperation Council (GCC), West Africa, Malaysia

and other states within the Organisation of Islamic

Cooperation (OIC). Our aim is to ensure that our

experts are completely and effectively responsive

whenever a client engages us on any assignment so

that we immediately add value and avoid

unnecessary and costly delays.

Risk Reward’s Chief Executive, Dennis Cox, has

been an advisor in Islamic Finance to one of the

largest banks in the GCC and an Asian Central Bank

and as such maintains regular contact with that

bank’s top management and regulatory authorities.

Dr Natalie Schoon has been active in bringing an

innovative methodology to create Islamic funds in

Afghanistan and Iraq and also as an advisor to a

wide variety of Islamic banks and financial

institutions.

We can therefore claim with authority that Risk

Reward is at the leading edge of the Islamic market

and is conversant with the risk-based issues

challenging the major Islamic banking players.


Great course, very deep and

comprehensively covers a lot –

if not all – aspects of what an

auditor should be looking

at/knowing and what requires

to be understood for the

auditor to do their job properly.


Nashwa Al-Busaioi, Assistant Manager

– Bank Muscat

4

www.riskrewardlimited.com


Islamic Banking & Finance Services

According to the the CityUK 2013

Report Islamic assets managed by

banks increased by a fifth in 2012 to a

record $1.3 trillion. Mayor growth is also

being experienced in sukuk issuance

and other forums of Islamic Finance.

As more countries look to expand their Sharia

offering Risk Reward experts are already in their

markets, experienced and knowledgeable about the

local banking, finance, business and economic

climate, its key players and regulatory trends. Our

solutions are appropriate and practical for regulators,

regulated entities and the Islamic finance economic

sector including services and systems providers.

New Sharia compliant institutions in recent years

have been developed in a number of countries

including: Azerbaijan, Kenya, Nigeria, Oman, Qatar,

Russia and Oman and Risk Reward Islamic experts

have been advising on risk management and internal

audit specific to Islamic products and standards.

The changing financial climate presents both

opportunities and challenges to Islamic Banks.

Working with both Boards and Shariah committees

our expert consultants develop practical and

innovative solutions to the challenges faced.

Risk Reward has one of the most diverse teams in

the industry and can offer global support for

technical consultancy on all areas of Islamic Banking

and Finance, training, risk management, accounting

and internal audit.

As the financial rules within which Islamic finance

develop, we are able to assist firms in their

interpretation and implementation within an internal

framework. Risk Reward familiarity with the AAOIFI

and IFSB rules together with our expertise in the

IFRS requirements and BIS regulations enables us to

provide both a local and an international perspective.

Our services include:

n

Advisory

Our Islamic experts provide assistance with any

aspect of banking and finance, policy,

governance, strategy development, due

diligence, implementation, marketing, products

and services, controls, monitoring and reporting.

Islamic Product Development

n

n

• Credit Control and Islamic Environment

• Policy development and implementation

• Infrastructure finance & fund raising

Risk management

• AAOIFI Accountancy & IFRS compliance

• Sukuk issuance

• Specialist Funds (including Real estate)

• Exchange traded products

• IFSB and BIS Regulation

• International Brokerage (e.g. connecting Halal

food producers and food packaging suppliers

in the Gulf States and Nigeria, Sudan)

• Off-exchange trading in commodity-based

agreements

• Consumer finance (e.g. mortgages, motor

insurance)

• Deauville Partnership Arab Women in

Business Funding Services

• Collections

Internal Audit

Providing expertise in developing and executing

risk-based audit approaches to Islamic Finance

products and services, preparing a comprehensive

Islamic: Internal audit universe; Audit governance;

Audit plan; Audit programmes and co-sourcing

specific audits as part of the audit team when

conducting audits on an ad hoc basis.

Training

Design of customised training programmes in

any aspect of Islamic Finance including AAOIFI

and IFSB requirements. Unique to Risk Reward

is the Islamic Banking and Finance Academy

(IFBA), in-house training model for individual

banks, trade associations for their members and

regulators/government training centres. The

IBFA is comprised of four professional

internationally recognised industry qualifications

plus nearly 50 short-courses, Regulatory Update

and Executive Debriefs for the Board, Senior

Management and Non-Executive Directors,

Directors and Heads of Divisions, Middle

Managers and Supervisers, General Staff,

Contractors and Suppliers.

Our clients confirm that these services

are competitively priced with prompt,

friendly and professional quotes for

projects of any scope and scale.

5


Selected Global Markets and Clients

6

Africa

• ABSA Bank Ltd

• ABSA Capital

• Access Bank Plc

• Africa Finance Corporation Nigeria

• African Banking Corporation

• Ahli United Bank

• ASO Savings and Loans plc

• Audi Bank

• Bank of Alexandria

• Bank of Kigali Limited

• Bank Windhoek Ltd

• Banque Africaine de Développement

• Banque Bemo Saudi Fransi

• Banque Du Caire

• Banque Populaire du Rwanda

• Barclays Bank (South Africa)

• Barclays Bank Moçambique

• BDO (Mauritius)

• BNP Paribas

• BoE Private Clients (a Div.of Nedbank)

• Botswana Public Officer's Pension Fund

• BRD

• Cadiz Asset Management

• Cavmont Capital Bank (Zambia)

• Central Bank of Nigeria

• ChaseBank (Kenya)

• China Construction Bank

• CITCO (Mauritius) Limited

• Citizens SME Agency (Botswana)

• Colgate Pamlolive

• Commercial Bank (Zambia)

• Commercial Bank of Ethiopia

• Commercial International Bank (Egypt)

• Consolidated Bank of Kenya

• Construction & Business Bank

• CRDB Bank PLC

• Credit Agricole Corporate & Invest Bank

• Développement Bank PHB

• Dashen Bank S.C.

• Deloitte & Touche

• Development Bank (Rwanda)

• Development Bank of Mauritius Ltd

• Development Bank of Southern Africa

• Ecobank

• Egyptian Banking Institute (Egypt)

• Equity Bank Rwanda Limited

• Exam Ready (South Africa)

• Export Development Bank of Egypt

• Export Development Bank Sudan

Finance Bank (Zambia)

• First Atlantic Merchant Bank

• First Bank of Nigeria PLC

• First Rand Bank (South Africa)

• FITC

• FNB Commercial

• GCnet Limited

• GT Bank (Nigeria)

• HFC Bank (Ghana)

• Housing Finance (Uganda)

• HSBC Bank

• Indefund (Malawi)

• Industrial Development and Workers

Bank of Egypt

• Industrial Development Corporation

• Intercontinental Bank Plc

• Intermarket Banking (Nigeria)

• Investec (South Africa)

• Investec Asset Management

• Investment Banking & Trust

• Investrust Bank (Zambia)

• KCB Bank Rwanda Limited

• Kenya Commercial Bank Ltd

• KPMG Professional Services

• Lefisa Ventures (Lesotho)

• National Bank (Malawi)

• National Bank of Abou Dhabi

• National Bank of Egypt

• National Investment Bank

• Nedbank

• NERFUND

• Nigeria Capital Market Institute

• Omnifinance (Cote D'Ivoire)

• Press Trust (Malawi)

• Prudent Bank (Nigeria)

• Public Investment Corporation

• Rand Merchant Bank

• Rawbank - DRC

• Rokel Commercial (Sierra Leone)

• Scotiabank

• Sierra Leone Commerce Bank

• Skye Bank Plc

• South African Express Airways

• South African Reserve Bank

• Standard Bank Group

• Standard Corp & Merchant Bank

• Sterling Bank Plc

• Sudanese Egyptian Bank

• Suez Canal Bank

• Trust Bank (Ghana)

• UBA (Nigeria)

• Union Bank (Cameroon)

• Unity Finance Limited

• Zanaco

• Zenith Bank (Nigeria)

Americas

• AAA Northern CA, NV & Utah

• AIPSO

• Allianz Global Assistance USA

• Arvest Bank Group

• Auto Club Group

• Banco Industrial de Venezuala

• Bank Hapoalim

• Bank Leumi USA

• Bank of America

• Bank of Utah

• Bank Plus

• Bank United

• Board of Governors

• BRD Groupe Societe Generale

• Brown Smith Wallace Consulting

• Capital One

• Central Bank of Brazil

• Central Bank of Mexico

• Chapman Consulting

• Chicago Bridge & Iron Co

• Citizen's Bank

• Comerica Inc

• Depository Trust & Clearing Corp

• Deutsche Bank AG

• DNB Bank ASA

• E*Trade Financial Group

• EmblemHealth

• Enbridge Inc

• Evans Bank NA

• Federal Audit Loan Bank

• Federal Home Loan Bank

• Federal Reserve Bank of Dallas

• Federal Reserve Bank of New York

• Fidelity Management Research

• First Citizen's Bank

• First Niagara Bank

• First Republic Bank

• FRB of New York

• Freddie Mac

• GEICO Corp

• General Motors

• Girobank NV

• Glens Falls National Bank & Trust Co

• Hogan Taylor LLP

• Iberia Bank

• ING Group

• Intesa SanPaolo

• Intrepid Potash Inc

• Johnson Financial Group

• JSC Liberty Bank

• L Thurston Accting & Advisory Svcs

• Lakeland Bank

• Lance Inc

• Legg Mason & Co

• Marlin Leasing

• MIS

• Mitsubishi UFJ Trust & Banking

• Mizuho Corporate Bank

• Morgan Stanley

• Mutual of Omaha

• New York Community Bank

• Northern Trust

• Oppenheimer Funds

• Petroleos Mexicanos

• Provident Bank

• Rabobank

• Resource Bank

• Ridgewood Savings Bank

• Signature Bank

• State Street

• Sterling Savings Bank

• Sumitomo Mitsui Trust bank Ltd

• Svenska Handelsbanken (New York)

• TD Bank

• Universal Property & Casualty Ins.

• Valley National Bank

• Wells Fargo

Asia

• ABN-AMRO (Hong Kong, Singapore)

• Affin Bank Bhd

• Alliance Bank Malaysia Bhd

• Asian Finance Bank Bhd

• Banco Nacional Ultramarino (China)

• Bangkok Bank Public Co.,Ltd

• Bank Islam Malaysia Bhd

• Bank Negara (Malaysia)

• Bank Negara Indonesia (Persevo)

• Bank of Baroda

• Bank of China

• Bank Of Taiwan

• Bank Rakyat Bhd

• Bank Sinopac

• Bank TuranAlem (Kazakhstan)

• Barclays Private Banking (Hong Kong)

• Canara Bank

• Cathay United Bank

• Chang Hwa Commercial Bank

• China Development Industrial Bank

• Chinatrust Commerial Bank

• CIMB Bank Bhd

• CIMB Investment Bank Bhd

• Citibank (Taiwan) Limited

• DFCC (Sri Lanka)

• Dhaka Bank Ltd (Bangladesh)

• Dutch Bangla Bank

• E. Sun Commercial Bank, Ltd.

• EON Bank Bhd

• Financial Supervisory Service

• First Commercial Bank

• Hong Leong Bank Bhd

• Hua Nan Commercial Bank Ltd

• ICBC (Hong Kong China)

• ICICI Bank (India)

• Industrial Bank Of Taiwan.

• Jih Sun International Bank

• L B Finance Ltd (Sri Lanka)

• Malayan Banking Bhd

• Mega International Commercial Bank

• Mercantile Bank Ltd (Bangladesh)

• Mitsubishi UFJ Securities International

• Mizuho Corporate Bank. Taipei Branch

• Monetary Authority (Hong Kong)

• Monetary Authority (Singapore)

• National Development Bank (Sri Lanka)

• Norinchukin Bank (Japan)

• Orient Financial Services (Sri Lanka)

• Oriental Bank of Commerce (India)

• Overseas Chinese Banking

• Premier Bank (Bangladesh)

• PricewaterhouseCoopers

• PT Bank BNI (Persero)

• Public Bank Bhd

• REDmoney (Malaysia)

• RHB Banking Group

• Societe Generale

• Standard Chartered Bank Malaysia

• State Bank of Bikaner & Jaipur (India)

• Sunny Bank

• Swiss Reinsurance (Hong Kong)

• Taichung Commercial Bank

• Taipei Fubon Commercial Bank

• TBK (Singapore)

• The Bank Of Nova Scotia

• The Export-Import Bank of the

Republic Of China

• The Shanghai Commercial & Savings

Bank Ltd.

• Union Bank Of Taiwan

• United Overseas Bank (M) Bhd

• Whitestone (Singapore)

• Yuanta Commercial Bank

Gulf States

• Abu Dhabi Audit Authority

• Abu Dhabi Centre for Corporate

Governance

• Abu Dhabi Commercial Bank

• Abu Dhabi Investment Auth.

• Abu Dhabi Investment Company PJSC

• Abu Dhabi Islamic Bank

• Afghan United Bank

• Afghanistan International Bank

• AFRIBANK

• Ahli Bank

• Al Rajhi Bank (Saudi Arabia)

• Al Salam Bank

• Al-Ahli Bank (Kuwait)

• Alfahim

• Al-Mashreq Bank (Dubai)

• Al-Mujaz (Saudi Arabia)

• Arab Banking Corporation

• Arab Finance House SAL

• Arab Gambian Islamic Bank

• Arab National Bank (Saudi Arabia)

• Aramco Gulf Operations Co.

• Associated Discount House

• Bahrain Institute of Banking and

Finance

• Bahrain Islamic Bank

• Bank Audi

• Bank Dhofar

• Bank E-Millie Afghan

• Bank Muamalat Malaysia Berhad

• Bank Saderat Iran

• Bank Saudi Fransi

• Bank Sohar

• Banque Bemo SAL

• Banque Bemo Saudi Fransi

• Banque Du Liban

• Banque Libano Francaise

• Banque Saradar (Lebanon)

• Banque Saudi Fransi (Saudi Arabia)

• BLC Bank

• Blom Bank

• Byblos Bank (Lebanon)

• Central Bank of Malaysia

• Central Bank of Sudan

• Commercial Bank of Kuwait

• Commercial International Bank (Egypt)

• Credit Bank SAL

• CSC Bank SAL

• Doha Bank

• Ecobank Plc

• EFG-Hermes Fund Management

• Engro Polymer & Chemicals

• Enhance (Dubai)

• ENI

Finance Al Ain International Group

Finance Gulf Takaful Insurance

• Financial Control Guaranty Trust

Assurance

• First Bank Plc

• First Gulf Bank (Dubai)

• Fleming Gulf (Dubai)

• Fransabank (Lebanon)

• Ghazanfer Bank

• Global Investment Bank (Kuwait)

• Gosi - Social Insurance Org.

• GT Bank Plc

• Gulf Investment Corporation

• HSBC

• Institute of Banking Studies (Kuwait)

• Institute of Public Administration

• Investment House

• Investments Emirates Int'l Investment

Islamic Development Bank (Jeddah)

• Israel Discount Bank Ltd

• Lebanon & Gulf Bank SAL

• Majid Al Futtaim Group LLC

• Mashreq Al Islami

• Mawarid Finance

• MCB Bank Ltd

• National Bank of Abu Dhabi

• National Bank of Kuwait

• National Bank of Umm Al Qaiwain

• National Commercial Bank

• Nigerian Export - Import Bank (NEXIM)

• Palestine Investment Fund

• Peoples Bank

• Qatar Central Bank

• Qatar International Bank

• Qatar Islamic Bank

• Qatar National Bank

• REDmoney

• Riyad Bank (Saudi Arabia)

• Saman Bank

• Samba Financial Group

• Saudi Arabian Oil Company

• Saudi Aramco

• Saudi Economic & Development Co.

• Sharjah Islamic Bank

• Skye Bank Plc

• State General Reserve Fund


• The City Bank

• Union Bank Plc

• Union National Bank

• United Capital Bank (Saudi Arabia)

• Wema Bank plc

Russia & CIS States

• Alfa Bank (Ukraine)

• ANT (Inform-LLC)

• Asian-Pacific Bank (JSC)

• Bank TuranAlem (Kazakhstan)

Banking Institute of Armenia

• Central Bank of Armenia

• CJSC (Trade House- ORGKHIM)

• Davachi Broyler

• Development Bank of hr Republic of

Belarus- OJSC

• Eurasian Bank (Kazakhstan)

• Gazprombank

• GC Morton ‘Development Center

• Halyk Bank

• HSBC (Armenia)

• ICL-KME CS

• Im Bank (Russia)

• JSC (Bashkirian Chemistry)

• JSC (Bel Swiss Bank)

• LVA Europe

• PASA Bank

• Prometey Bank (Armenia)

• PWC (Ukraine)

• Raiffeisen Bank (Russia)

• Rosinkas

• SPbAEP, JSC

• Transkredit

• Troika Dialog (Russia)

UK/Europe

• ABN Amro

• ABN-AMRO Bouwfonds (Netherlands)

• ACCA (UK)

• AccBank (Ireland)

• Ahli United Bank (UK) Plc

• AIB Group (UK) plc

• Alpha Bank Cyprus Ltd

• Alpha Bank London Ltd

• Alsace Consulting

• Andra AP fonden (AP2) Sweden

• ANZ Banking Group Ltd

• Assicurazioni Generali

• Association of Cyprus Commercial Banks

• Atradius Credit Insurance N.V.

• Atradius

• Avantage (UK) Limited

• Banca d'Italia

• Banca Monte Dei Paschi Di Siena SpA

• Banco de Sabadell

• Banco do Brasil SA

• Banco Espirito Santo

• Banco Internacional Do Funchal

• Banco Santander Totta

• Bancpost Romania

• Bangkok Bank Public Company

• Bank Julius Baer & Co

• Bank Leumi (UK) plc

• Bank Mandiri Ltd (Cyprus)

• Bank Negara Malaysia

• Bank of America NA

• Bank of Bermuda (Luxembourg)

• Bank Of China (UK) Limited

• Bank of Cyprus Public Co. Ltd

• Bank of Cyprus UK

• Bank of England

• Bank of Greece

• Bank of Indonesia

• Bank of International Settlements

• Bank of Ireland

• Bank of Mauritius

• Bank of Montreal

• Bank of Tanzania

• Bank One Limited

• Bank Saderat plc

• Bank Sepah International plc

• Bank Vontobel AG

• Banque Heritage S.A.

• Barclays Bank plc

• Barclays Capital

• Barclays Spain

• BES-DRH/Formação

• Birmingham Midshires

• BNP Paribas

• Bradford & Bingley plc

• Brewin Dolphin Bell Lawrie Ltd

• Britannia International

• British Arab Commercial Bank

• British Bankers' Association

• Broadcastle Bank Ltd

• Brown Shipley & Co Ltd

• Buckinghamshire Building Society

• C Hoare & Co

• CAF Bank Ltd

• Canara Bank

• Capital One Bank (Europe) plc

• Ceska Sporitelna, a.s.

• Chartered Institute for Securities and

Investment

• Cheltenham & Gloucester plc

• China Construction Bank

• Christiania Bank (Norway)

• CIBC World Markets plc

• CIEL - Azur Financial Services

• Cim Insurance Ltd

• Cim Management Services Ltd

• Cim Property Fund Management

• Citibank Europe, pcl

• Citibank NA

• City Speakers International (UK)

• Clariden Bank (Switzerland)

• Clydesdale Bank plc

• Comac Capital LLP

• Combined Insurance (UK)

• Commerzbank AG

• Constance Corporate Management

• Co-operative Bank (UK)

• Cooperative Central Bank Ltd

• Co-operative Financial Services

• Coutts & Co

• Coventry Building Society

• CRDB Bank Plc

• Credit Agricole Asset Management

• Credit Agricole Corporate & Invt Bank

• Credit Suisse (Switzerland)

• Credit Suisse (UK)

• Crown Agents Bank Limited

• ČSOB, a.s.

• Cyprus Development Bank PC

• DC Gardner (UK)

• Danske Bank A/S

• Deloitte LLP

• Depfa Bank Plc

• Deutsche Bank AG

• Deutsche Postbank AG

• Dexia Bank Belgium

• DNB ASA (Norway)

• Dr Nagler & Company GmbH

• Duncan Lawrie Ltd

• DVB

• DZ Bank AG

• EFG Bank

• EIB

• Eksportfinans

• ENL Land Ltd

• Eurobank EFG Cyprus Ltd

• Euromoney (UK)

• EuroNBank (Greece)

• Europe Arab Bank plc

• European Commission

• European Investment Bank

• Exilant

• Eximbank (Romania)

• FBN Bank (UK) Ltd

• FCE Bank plc

• FCMB UK Limited

• Fidelity Worldwide

Finance and Credit Bank

• Financial Services Authority

• Finans Bank Turkey

• Friends Life

• Ford Credit Europe

• Fortis Bank (Netherlands)

• Ernst & Young ShinNihon LLC

• Garanti Bank

• GE Capital UK

• GE Financial Markets

• Genesis Investment Management

• Ghana International Bank plc

• Gjensidige Forsikring ASA

• Guaranty Trust Bank UK Ltd

• Gulf International Bank (UK) Ltd

• Habib Allied International Bank

• Habib Bank (Switzerland)

• Habib Bank UK

• Hampshire Trust plc

• Harrods Bank Ltd

• HBOS plc

• Hellenic Bank Public Company

• Hitec (Laboratories) Ltd

• Hrvatska Postanska (Hungary)

• HSBC Bank plc

• HSH Nordbank AG

• HVB Bank (Czech Republic)

• Hypo Alpe Adria Bank

• ICA AB

• ICAEW (UK)

• ICICI Bank UK PLC

• IF P&C Insurance Ltd

• IG Group Holdings plc

• IG Index plc

• Im Bank (Russia)

• ING Bank N.V. (Slovakia)

• ING Direct (UK) Ltd

• ING Direct NV

• ING Group (Netherlands)

• Intercontinental Bank (UK) PLC

• International Bank Plc

• International Development (Eire)

• International Financial Services

• International Moscow Bank

• Investec Private Bank (UK)

• Investec

Islamic Bank of Britain

• Islandsbanki

• J.P. Morgan Europe Limited

• JC Rathbone Associates

• JP Morgan Chase (UK)

• JP Morgan Europe Limited

• JSC “Trasta Komercbanka” Cyprus

• JSC KAZAKHINSTRAH

• JT Bank

• Jyske Bank A/S

• Kaupthing Singer & Friedlander

• KBC Bank NV

• KBC Global Services/ ASM

• KFC - Pick 'N' Eat Ltd

• Khazanah Nasional Berhad

• KPMG

• Kredietbank (Luxembourg)

• Laiki Bank (Cyprus)

• Landsbanki (Iceland)

• LeasePlan Corporation N.V.

• Lloyds Banking Group

• Logica

• Lombard Risk Compliance Ltd

• Managed Initiatives Limited

• Marex Financial Limited

• Marfin Laiki Bank Public Co. Ltd

• Mazars

• MCB

• MEAG Munich ERGO Asset Mgmt

• MIS

• Mitsubishi UFJ Trust and Banking Corp

• Mizrahi Tefahot Bank Limited

• Mizuho Corporate Bank Ltd

• Mizuho Investment Management

• MKB Bank (Hungary)

• Mondrian Investment Partners

• Morgan Stanley

• N M Rothschild & Sons Ltd

• National Australia Bank Ltd

• National Bank of Abu Dhabi

• National Bank of Belgium

• National Bank of Egypt (UK) Ltd

• National Bank of Greece

• National Bank of Kuwait (Int) plc

• Natixis

• NatWest Stockbrokers

• NBS (Slovakia)

• Nederlandse Waterschapsbank

• Nemo Personal Finance

• Newedge Group

• Newton Investment Management

• Nomura Bank International plc

• Nordea (Finland)

• Nordic Investment Bank (Norway)

• Northern Rock plc

• OFI-AM

• Ohrlings Pricewaterhouse Coopers

• Pasha Insurance OJSC

• Perbadan Tabung Amanah Islam

Brunei

• Pictet & Cie

• Piraeus Bank (Cyprus) Ltd

• Piraeus Bank

• Punjab National Bank (International)

• PricewaterhouseCoopers (Romania)

• PricewaterhouseCoopers (Sweden)

• PricewaterhouseCoopers (UK)

• R Raphael & Sons plc

• Rabobank International

• Rabobank Netherlands

• Raiffeissen Zentralbank (Austria)

• Rathbone Investment Management

• RBS

• Reliance Bank Ltd

• Rogers Group

• Royal Bank of Baku

• Royal Bank of Canada

• Royal Bank of Scotland (UK)

• Russian Commercial Bank (Cyprus)

• Russian Commercial Bank

• RZB Bank Austria

• RZB Bank Romania

• SAB

• Sainsbury's Bank plc

• Samba Financial Group

• Sampo plc

• Santander Bank

• Santander Cards UK Ltd

• Schroder & Co Ltd

• Schroder Investment Management

• SEB

• SERV Swiss Export Risk Insurance

• SG Hambros Bank Limited

• Shanghai Commercial Bank Ltd

• Siemans plc

• Silicon Valley Bank

• SJ Berwin LLP

• SlSp,a.s.

• Smith & Williamson Investment Mgmt

• SNS Reaal

• Société Générale

• Societe Generale Bank - Cyprus Ltd

• SOFTEC

• Sonali Bank (UK) Ltd

• Standard & Poor's

• Standard Bank Plc

• Standard Chartered Bank

• State Street Bank & Trust Co.

• Sumitomo Mitsui Banking Corp

• Swan Insurance Company Limited

• Swedbank (Sweden)

• SWIP

• Tatra banka,a.s.

• TD Securities

• TD Waterhouse Inv Serv (Europe) Ltd

• Tesco Bank

• TetraLaval International SA

• The Automobile Association

• The Bank of New York Mellon

• The Bank of Nova Scotia

• The Bank of Tokyo Mitsubishi UFJ

• The Co-operative Bank plc

• The National Microfinance Bank

• The People's Bank Zanzibar Ltd

• The Royal Bank of Scotland Group

• The Toronto-Dominion Bank

• Total Solutions (Netherlands, Dubai)

• Turkish Bank (UK) Ltd

• UK Asset Resolution

• UKAR

• Ulster Bank Ltd

• UniCredit (Slovakia)

• UniCredit Bank AG

• UniCredit Group

• Unisys (UK)

• United National Bank Ltd

• United Trust Bank Ltd

• UBA Capital (London)

• USB Bank Plc

• Vanquis Bank Ltd

• Veranda Management Ltd

• Victoria

• Volksbank (Slovakia)

• Vontobel AG Switzerland

• VTB Capital Plc

• VÚB, a,s.

• Wells Fargo Bank NA

• Wesleyan Bank Ltd

• Wesleyan Savings Bank Ltd

• Winterflood Securities Ltd

• WorldPay

• Wragge & Co LLP

• Yorkshire Building Society

• ZKB

7


Islamic Banking & Finance

Academy

The Accademia Programme TM is an ‘in-house training academy’ for organisations

seeking to offer training to their own management and employees as well as their

clients, regulators, supply chain partners

and others. It is a response to the

challenges faced by organisations seeking

to enhance their effectiveness and retain

their competitiveness in the delivery of

products and services.

The Accademia Programme TM is available as:

n

n

n

n

n

n

n

n

Islamic Banking & Finance Academy*

Capital Markets & Commodities Academy

Financial Compliance Academy

Financial Crime Academy

Insurance Academy

Internal Audit Academy

Pension Academy

Risk Academy

Combine Academies to create your

organisation’s own in-house Banking

and Finance Institute.

*A selected course list appears on page 11

retail & sme

banking

Islamic Banking

& Finance Academy

corporate

banking

INVESTMENT BANKING

& CAPITAL MARKETS


Very good topics and helpful

to understand different views

of Islamic products.


insurance

ASSET & WEALTH

MANAGEMENT

RISK MANAGEMENT &

CORPORATE GOVERNANCE

REGULATION & COMPLIANCE

INTERNAL AUDIT

treasury

FINANCIAL CRIME DETERRENCE

ACCOUNTANCY

pensions

Hisham A Karim,

Senior Manager/Financial & Operations Auditor

– Abu Dhabi Commercial Bank

8

www.riskrewardlimited.com


Programme Description

Ready to use yet fully customisable – The Islamic

Banking & Finance Academy is a ready-made In-

House training academy which contains around 800

training courses designed to meet the needs of an

individual organisation (i.e. professional institute,

training centre, major banks).

Seven main streams and five control streams

constitute the 12 pillars of the Programme.

Organisations can choose to adopt the complete

Islamic Banking & Finance Academy or blend

modules into their existing training programmes.

In-House Training

If an in-house training function is a new feature of

your organisation a set-up service is available

whereby a former head of an in-house training

academy for a major global bank will train your staff

as to how to run an in-house training academy,

supervise the setup and then leave them to manage

the programme when they are ready. Of course, we

are happy to help you at any time.

If you prefer to outsource this function we provide an

in-house resource to you, using Risk Reward’s

management and staff, on a nominal management

fee basis, including customised:

n

n

Hosted Training Project Management

websites with multiple access and reporting

levels for group, business unit and delegates.

Hosted Learning Management System

for up to 100,000 users per training project.

Expert Trainers & Course Materials

Each of our 650 trainers are experts in their fields

with 20-30 years of relevant industry experience,

ensuring that our courses add value from day one.

Our expert trainers are qualified bankers, chartered

accountants, internal auditors and insurance

specialists. Each trainer writes the course materials

themselves using the most up-to-date regulatory

and industry technical papers as well as their own

unique experiences acquired in both developed and

emerging financial markets.

Time & Delegates

Most courses are short (2-10 days) and aimed at

transferring knowledge to those who are facing a

short and medium-term business or regulatory

challenge. These focus on practical applications of

knowledge and personal interactivity between the

trainer and the delegates. Delegate groups are

usually between 15-20, although courses are also

available in a lecture style for large groups of up to

150 delegates.

A pilot programme (e.g. Islamic Risk Academy) is

also available, designed to serve as a building block

to meet the preliminary budget needs of a long term

programme.

Driving Global Industry Change

As part of our training solutions and educational

services, regulators and those regulated alike are

coming together in our seminars, workshops and

classrooms to listen and learn from not just our

experts but each other. This continues to have an

important impact on the changing economic

environment and the tough decisions being taken by

governments and banks in the months and years to

come. We are proud to be playing our role in the

refreshing of the financial services infrastructure of

the West and facilitating the innovative responses to

new infrastructures developing in Nigeria, Egypt, the

UAE, Morocco, East Africa and Malaysia in

particular.

Please contact us for further details or

to book live presentations

of our Accademia Programme TM .


The course material &

presentation is well oriented.

In addition, the instructors vast

experience places him in a

good position to present the

course with due diligence.


Mohammad Ali Al-Dabbas,

Senior Internal Auditor – Societe Generale Bank

9


Public Training Courses Preparatory training to internationally recognised qualifications

Islamic Finance Qualification and

Training Course (IFQ)

The CISI is the UK’s largest and most widely

respected professional body for the Securities and

Investment industry. CISI Certificates are included in

the UK’s Financial Services Skills Council’s list of

Appropriate Examinations and are recognised for all

major activities.

IFQ

The IFQ is a ground-breaking qualification that

covers Islamic finance from both a technical and a

Sharia perspective, providing the first international

benchmark in the area of Islamic finance.

It provides delegates with an understanding of the

influence of sharia in a business context and

prepares delegates to hold key positions in the

Islamic finance and takaful (Islamic insurance)

industries.


Since its inception, the IFQ has

been highly acclaimed as it

contributes the the widening

and deepening of the skills of

financial practitioners. We are

confident that this third edition

will further confirm its

pertinence to the

financial industry at large.


Raed H. Charafeddine,

First Vice Governor – Banque du Liban

Chairman – Advisory Council for Islamic Finance

The qualification and training course are appropriate

for existing and new employees and those seeking a

career in Islamic finance. Since its launch, the exam

has been taken in over 40 countries.

Key features of the IFQ

n

n

n

n

n

n

n

Provides an essntial knowledge of the general

principles of sharia (fiqh al muamalat) and its

application to Islamic banking and finance.

Covers the different types of Islamic finance

contracts and products available.

Examines the practices used in the Islamic

financial markets and the principles behind

investment selections.

Employing IFQ holders indicates that a company

is contributing to the development and

promotion of high ethical standards amongst its

staff.

Initiated and supported by the Central Bank of

Lebanon (Banque du Liban).

Awarded jointly by the CISI (recognised by

Ofqual, the UK government education regulator)

and l’Ecole Supérieure des Affaires (ESA).

Offered in English and in Arabic.

Who should attend

All banking and financial professionals either working

within an Islamic financial institution or intending to

do so and any other professionals working in the

field who wish to develop their skills and

understanding of Islamic finance.

2014 CISI – Islamic Finance Qualification (IFQ) Certificate

London Jan 22-24 Apr 14-16 Jul 1-3 Oct 8-10

Baku Feb 24-26 May 28-30 Sep 23-25 Nov 10-12

Dubai Mar 10-12 May 12-14 Sep 21-23 Nov 10-12

Istanbul Feb 25-27 Apr 28-30 Aug 13-15 Oct 28-30

Jakarta Feb 11-13 Jun 10-12 Sep 2-4 Nov 18-20

Kuala Lumpur Mar 3-5 May 12-14 Aug 4-6 Oct 20-22

Muscat Mar 24-26 Jun 24-26 Sep 17-19 Nov 18-20

Sarajevo Feb 17-19 Apr 2-4 Jul 7-9 Oct 14-16

Singapore Jan 13-15 Apr 28-30 Sep 17-19 Nov 24-26

10

For more information about CISI training courses and IFQ please contact us at

CISI@riskrewardlimited.com or telephone +44 (0)20 7638 5558.


Classroom Training by Subject Available as Sponsored, Public or In-House options.

Islamic Banking & Finance Courses

Risk Reward writes and delivers practical Islamic Banking & Finance training, both in-house and public

courses, for bank regulators and practitioners. These courses, combined with a bespoke Training Project

Website and Learning Management System, make up some of the Islamic Banking & Finance Academy.

ISL001

ISL025

ISL026

ISL002

ISL027

ISL028

ISL003

ISL004

ISL029

ISL012

ISL010

ISL005

ISL016

ISL006

ISL030

ISL031

ISL032

ISL033

ISL034

ISL035

ISL007

ISL023

ISL024

ISL036

ISL037

ISL008

ISL038

ISL039

ISL009

ISL040

ISL041

ISL011

ISL042

AAOIFI Certified Islamic Professional Accountants

(CIPA)

AAOIFI Certified Shari’a Adviser and Auditor (CSAA)

AAOIFI and IFRS Standards /Selected Topics

Workshops

AAOIFI Principles – Accounting and Auditing

Organisation for Islamic Financial Institutions

AAOIFI Standards / Selected Topics Workshops

Advanced Credit Risk for Islamic Banks

Advanced Islamic Banking & Finance (Products)

Auditing Islamic Banking & Finance

Auditing Islamic Finance (for Regulators, Banks

and Insurers)

CII Islamic Insurance (Takaful) Certificate

CISI Islamic Finance Qualification

Client Relationship Management in Islamic Finance

Corporate Governance in Islamic Banking

Credit Risk in Islamic Finance

Financial Crime Deterrence for Islamic Banking

and Finance

Guidelines for Corporates Doing Business with

Islamic Bankers/Insurers

IFSB Standards/Selected Topics Workshops

Islamic Asset Backed Lending (Corporates)

Islamic Audit and Accounting (AAOIFI)

Islamic Banking and Finance for the Board and

Non-Executive Directors

Introduction to Islamic Banking & Finance

Islamic Bond Issuance

Islamic Capital Markets & Commodities

Islamic Consumer Finance

Islamic Consumer Finance (Products)

Islamic Corporate Banking

Islamic Corporate Credit Risk & Balance Sheet

Analysis

Islamic Corporate Governance (Banks & Insurers)

Islamic Credit Loan Restructuring

Islamic Finance Collections: Practical Solutions

(Country Reviews)

Islamic Finance Sales Techniques

Islamic Financial Services Board (IFSB)

Islamic Insurance/Selected Topics Workshops

ISL013

ISL043

ISL014

ISL044

ISL015

ISL045

ISL024

ISL046

ISL047

ISL049

ISL050

ISL048

ISL017

ISL051

ISL018

ISL019

ISL020

ISL052

ISL053

ISL021

ISL054

ISL056

ISL057

ISL055

ISL022

ISL058


Islamic International Trade Finance

Islamic Investment Banking (Regulators and Banks)

Islamic Private Banking, Wealth and Portfolio

Management

Islamic Project Finance

Islamic Retail Banking

Islamic Risk Management for Banks

Islamic Risk Management for Central Banks

Islamic Risk Management for Insurers

Islamic Stress-Testing and Reverse Stress-Testing

for Banks/Insurers

Islamic Stress-Testing and Scenario Modelling for

Banks/Insurers

Islamic Stress-Testing and Scenario Modelling for

Regulators

Islamic Stress-Testing and Reverse Stress-Testing

for Regulators

Islamic Stress Testing and Scenario Modelling

Islamic Treasury Management (Regulators & Banks)

Liquidity Risk in Islamic Finance

Market Risk in Islamic Finance

Micro Finance and Business for Islamic Banks

Pricing Islamic Products (Banks)

Risk Management of Islamic Banking and Finance

(Regulators)

Risk Management of Islamic Banking & Finance

Shari’a Variations & The Impact on International

Islamic Finance

Supervision of Islamic Banking for Examiners

Supervision of Islamic Finance (for Regulators of

Banks, Insurers, Asset Management)

Supervision of Islamic Insurance

Treasury Management for Islamic Banks

Wealth and Asset Management

The course has absolutely

helped me to gain a basic

understanding of

Islamic Finance products.

Aditya Malviya,

Risk Management – Arqaam Capital Ltd


We deliver training to regulators and banks across the Islamic world via trusted and reputable affiliates

including government training centres, training companies and directly on an in-house basis.

For information on Public & In House Courses please contact your

local training provider or Risk Reward Limited.

11


Adding Value to your business

At Risk Reward we add value to all of

our training projects from the first

instance by offering a host of

complimentary services such as:

n

n

n

n

Conference Calls with you to determine your

business goals and preferred training formats

Account Manager to offer you full support and

advice and to ensure that all your requirements

are met efficiently

Professional friendly and prompt response to

your enquiries

Customised course outlines and course

materials to meet with your organisation’s or

department’s specific needs


There was continuous discussion in a friendly

atmosphere which made it possible to exchange

thoughts with all the participants and we were in full

review of Islamic finance and its

advantages and challenges it faces.


Suhail Abdel Rahman Kahder,

Corporate Real Estate – Abu Dhabi Islamic Bank

n

n

n

n

Questionnaires created with your teams to

determine delegates levels and depth of subject

knowledge pre-training

Evaluation forms prepared for delegates posttraining

Post-training diagnostic, analytical and

reporting services and conference calls

Complimentary email Question & Answer

services to the trainer from the delegates for 3

months

12 www.riskrewardlimited.com


Risk Reward’s Additional

Solutions & Services

As part of the Risk Reward Group of Companies, we also offer the following ancillary

services – either as stand-alone solutions or, as needed, seamlessly integrated with

our other core offerings:

S E A R C H

Risk Reward Search Ltd.

a leading supplier of executive and contingent search solutions within Governance, Risk

and Compliance (GRC) and Internal Audit This enables us to cover clients’ full project

lifecycles including tailored staff resourcing solutions when projects phase move from

implementation into business as usual.

For more information please contact:

Benn Pople at Benn.Pople@riskrewardsearch.com or call +44 (0)20 7638 5584

Niven Capital Ltd.

our specialist corporate finance divisions, providing both business funding and capital raising services to our

global client base. Both our capital markets and funding divisions are helping our clients to determine

appropriate funding solutions in the most cost-effective and time critical manner across international

markets.international markets.

For more information please contact:

Nick Sullivan at nsullivan@nivencapital.com or call +44 (0)20 7382 8787

Red Chair TM – when you need to know...now.

Sometimes you may need to know something right now. For instance, before the regulator calls, before your

competitor beats you to it, before your external auditor discovers it or before facing the Risk or Audit committee

or your Board. For these or similar situations, industry-experts with more than 20 years relevant international

subject matter expertise and experience in banking, capital markets, financial services and insurance are available

by telephone ‘live’ to give you the information you need when you need it. Brief, concise answers to your

questions are given ‘live’ in English and followed up in writing charged on an hourly basis. As we are fully

independent, your questions are managed discretely, using either an account set up to your firm for multiple users

or for you personally, with payment by credit card/PayPal. High quality advice, professional standards and

complete confidentiality are guaranteed.

For more information please contact:

Leigh Morgan at LM@riskrewardlimited.com or call +44 (0)20 7638 5559

www.riskrewardlimited.com

13


FAST QUOTE request

For a FAST QUOTE please scan this completed page and email to Laura Luque Nadal at

LLN@riskrewardlimited.com

I/we are interested in the following courses:

Course Title/Number Date Location Number of Delegates

Please contact me with a quotation and further details.

Name

Position

Organisation

Address

Email Address

Tel No

14

www.riskrewardlimited.com


iskupdate

GLOBAL

The best value and most

valued by readers ...

A regular journal

covering insights and

global risk issues of

interest to the

banking, insurance

and financial sectors

in developed and

emerging markets.

riskupdate

The quarterly independent risk review for banks and financial institutions worldwide

GLOBAL

GLOBAL

riskupdate

The quarterly independent risk review for banks and financial institutions worldwide

April 2011

August 2011

riskupdate

GLOBAL

The quarterly independent risk review for banks and financial institutions worldwide

January 2012

THE

BRIBERY

ACT 2010

Also in this issue

n FIRST INTERVIEW WITH

ADAM FARKAS

n LOAN REFERENCE RATES:

LENDER OR BORROWER –

DO I OR SHOULD I CARE

n CREDIT RISK: MAKING THE

“RIGHT” DECISION

n SIGNIFICANTLY

ENHANCING RISK

MANAGEMENT IN THE

INSURANCE INDUSTRY

n AUDITING SOLVENCY II –

ORSAs FOR CORSAs

n WHEN THEY CALL YOU –

WHO YOU GONNA CALL

n THE FUTURE OF GLOBAL

FINANCE

Also in this issue

n Building CVA on Top of an

Existing Risk Infrastructure

n Contingent Capital

Instruments – What is the future

likely to hold

n Africa:

The “Last Emerging Market”

n Africa: The Fascination, Rewards,

Hazards and Management of Risk

n Casino v. Jungle

n The Future of Islamic Risk

Management

n To Aggregate Risk or Not

Should that be the Question

Also in this issue

■ WHO MANAGES RISKS

BETTER – BANKS OR

INSURERS

■ ARE AUDITORS

BREAKING COMPANY

LAW RULES

■ REASSESSING AND

UPDATING CREDIT

ANALYSIS AND MODELS

■ THE CHANGING

GLOBAL FINANCIAL

MARKET

■ THE IMPACT OF

GETTING REGULATION

WRONG

© Risk Reward Ltd UK. A l rights reserved. Available by subscription only – not for sale or resale

Managing

Risk in a

Volatile

Landscape

© Risk Reward Ltd UK. A l rights reserved. Available by subscription only – not for sale or resale

The Myth

about

Exchange

Traded

Deriviatives

© Risk Reward Ltd UK. All rights reserved. Available by subscription only – not for sale or resale

Subscribe today

http://www.riskrewardlimited.com/subscribe-to-risk-update


part of Risk Reward Group of Companies

Risk Reward Ltd

60 Moorgate

1st Floor

London ECR2 6EL

United Kingdom

Office hours: London (GMT)

09.00 – 18.00 Monday – Friday

tel: +44 (0)20 7638 5558

fax: +44 (0)20 7638 5571

email: info@riskrewardlimited.com

www.riskrewardlimited.com

Africa

Cariska Pieters

tel: +44 (0)20 7638 5558

CP@riskrewardlimited.com

USA & Americas

Lisette Mermod

tel: +1 (917) 310-1334

LM@riskrewardlimited.com

Asia

Laura Luque Nadal

tel: +44 (0)20 7638 5558

LLN@riskrewardlimited.com

Central and Eastern Europe

Judit Kovács

tel: +36 (0)2094 28173

JKCEE@riskrewardlimited.com

Gulf States

Lisette Mermod

tel: +44 (0)20 7638 5558

LM@riskrewardlimited.com

Russian Federation & CIS

Joanna Kraska

tel: +44 (0)20 7638 5558

JK@riskrewardlimited.com

UK & Europe

Laura Luque Nadal

tel: +44 (0)20 7638 5558

LLN@riskrewardlimited.com

designed by mfp

info@mfp.me.uk

More magazines by this user
Similar magazines