STRUCTURING INNOVATIVE ISLAMIC FINANCIAL PRODUCTS

islamic.banking.com
  • No tags were found...

structuring innovative islamic financial products - Institute of Islamic ...

Deal not unjustly, and ye shall not be dealt with unjustly The Holy Qu’ran 2:279

7th Annual Three-Day Workshop

STRUCTURING INNOVATIVE

ISLAMIC FINANCIAL PRODUCTS

Hosted By

Friday 13th – Sunday 15th September 2013

Venue: Ernst & Young LLP, 1 More London Place, London, SE1 2AF, UK

WORKSHOP OBJECTIVES

provide a commercial value and also comply with Shari'ah requirements

Shari'ah principles.

In this three-day workshop, a wide-ranging and very detailed analysis

innovations that have been employed for the development and

reshaping of existing Shari'ah-compliant products.

There will be three substantive interactive exercises based on group

participation and discussion, one on each day, focusing on product

structuring to simulate the challenges of real-life practical tasks such as

product design and development as faced by industry practitioners.

• Firstly, there will be a critical evaluation of

existing Shari'ah compliant products, in

particular by identifying the various Islamic

the development and amendment of these

products over time, and analysing how robust

and sound these innovations have been.

• Secondly, a detailed exploration will be

carried out on how to innovate in line with the

fundamentals of the Shari'ah, in order to

understand how to develop Shari'ah-based

products that place emphasis on both

substance and form and are free of the

concerns associated with existing products

Register

Online

Who should attend?

Supporting Organisations

Islamic Financial Industry - in particular product developers,

and senior management.

“ An excellent course with a good

mix of participants (Nationality,

professional background)” 2012

Media Partner

EDUCATION, LEARNING AND DEVELOPMENT

7 Hampstead Gate, 1A Frognal, London NW3 6AL, United Kingdom

Telephone: +44(0)207 433 0840 Fax: +44(0)207 433 0849

Page 1 of 5


7TH ANNUAL THREE-DAY WORKSHOP STRUCTURING INNOVATIVE ISLAMIC FINANCIAL PRODUCTS

Friday 13th – Sunday 15th September 2013

Venue : Ernst & Young LLP, 1 More London Place, London, SE1 2AF, UK

About the Workshop (more)

There has been much criticism of the existing conventional banking industry especially in recent years

speculation, gambling and excessive risk-taking - leading to renewed questions on how to achieve a more

equitable and fair economic system.

transaction. In practice, the IFI has proven to be commercially viable despite the need to observe such

moral and ethical requirement, growing substantially over the last 15-20 years in particular. The IFI’s

proponents believe that the key to the growth of the industry has been the increasing use of innovation.

However, many argue that the innovations used so far in the IFI have focused on synthetic form and a

"copy-paste from the conventional" methodology and do not appear to have paid particular attention to

Shari'ah objectives.

While innovation is undoubtedly essential, it must be sound, robust, and in line with the key

requirements and spirit of Shari'ah objectives related to ethics and morality.

In this workshop, the wide range of industry products (retail, corporate and investment banking) will be

considered within the overall context of industry 'best practice' and Shari'ah objectives based on ethics and

morality. The importance and relevance of the various infrastructure and support systems (regulatory,

governance, accounting, taxation, legal, etc) will also be understood within the overall context of

Shari'ah-permissible innovation and product development, and the distinction between Shari’ah based

versus Shari’ah compliant will also be examined in detail.

T rainers & Panel Discussion Speakers

Dr Salman Khan (Lead Trainer)

Head of Shari’ah Office at a GCC-Based Islamic Bank, U.A.E

Richard De Belder (To be confirmed)

Partner, Head of Islamic Finance, Dentons, UK

Matthew Sapte (To be confirmed)

Partner, Banking and Finance department, Dentons, UK

2012 Participants

Zahir Rashid

Manager, Financial Accounting Advisory Services IF, Ernst & Young, UK

Iqbal Asaria

Associate IIBI, Lectures regularly on Islamic Finance

Mufti Abdul Kadir Barkatullah

UK based Shari’ah Scholar

2012 Workshop session

Page 2 of 5

Hikmah: wisdom, meaning the underlying wisdom for

establishing justice “IIBI through reserves the goals the right and to objectives amend/change of the the

Shari’ah & well-being of programme society. It represents without prior ‘Knowledge notice”

of

the truth, acting upon it, correctness in speech and action.’

Hikmah: wisdom, meaning the underlying wisdom for establishing

justice through the goals and objectives of the Shari’ah so that

universal principles, reason and knowledge prevail to determine

one's actions and the well-being of society. It represents ‘Knowledge

of the truth, acting upon it, correctness in speech and action.’


7TH ANNUAL THREE-DAY WORKSHOP STRUCTURING INNOVATIVE ISLAMIC FINANCIAL PRODUCTS

Friday 13th – Sunday 15th September 2013

Venue : Ernst & Young LLP, 1 More London Place, London, SE1 2AF, UK

Programme Outline

Day 1 - Friday, 13th September 2013

09:00-09:05 INTRODUCTION:

09:05-09:15 KEYNOTE ADDRESS: Richard De Belder – Partner, Head of Islamic Finance, Dentons - UK

09:15-09:35 SESSION 1.................. Overview of AAOIFI Standards

09:35-10:45 SESSION 2..................

10:45-11:00 TEA/COFFEE BREAK

Defining the context: Revisiting the value proposition of Islamic Finance

Understanding ‘Best Practice’ as per current industry norms

11:00-13:00 SESSION 3..................

13:00-14:15 LUNCH/PRAYER BREAK

14:15-16:15 SESSION 4..................

16:15-16:30 TEA/COFFEE BREAK

16:30-17:30 SESSION 5..................

Innovations in Shari’ah-compliant

product structuring – 1

Murabaha

Mudarabah

Musharakah

Innovations in Shari’ah-compliant

product structuring – 2

Ijarah

Istisna’a

Salam

Exercise 1: Product Development

Group activity

- Real estate

- Home finance

- Car finance

- Trade finance

- Home finance

- Car finance

- Working capital

- Construction finance

- Working capital

- Construction finance

- Business projects

- Personal finance

- Personal finance

- Services finance

- Ijara Sukuk

Day 2 - Saturday, 14th September 2013

09:00-10:15 SESSION 6.................. Innovations in Shari’ah compliant product structuring – 3

Sukuk and Syndicated Islamic Finance: New developments and evolving

structures

Selected case studies

10:15-11:15 SESSION 7..................

11:15-11:30 TEA/COFFEE BREAK

12:30-13:30 LUNCH/PRAYER BREAK

Shari’ah-legal challenges in Sukuk

Market evolution and new challenges

11:30-12:30 SESSION 8.................. Exercise 2: Structuring sukuk

13:30-14:45 SESSION 9.................. Introduction to Shari’ah-compliant investment A critical examination

banking and corporate products

Understanding how Shari’ah-compliant

Derivative Contracts work

- Hedging

- Swaps

- Options

Page 3 of 5

Hikmah: wisdom, meaning the underlying wisdom for

establishing justice “IIBI through reserves the goals the right and to objectives amend/change of the the

Shari’ah & well-being of programme society. It represents without prior ‘Knowledge notice” of

the truth, acting upon it, correctness in speech and action.’


7TH ANNUAL THREE-DAY WORKSHOP STRUCTURING INNOVATIVE ISLAMIC FINANCIAL PRODUCTS

Friday 13th – Sunday 15th September 2013

Venue : Ernst & Young LLP, 1 More London Place, London, SE1 2AF, UK

Programme Outline

Day 2 - Saturday, 14th September 2013

14:45-15:45 SESSION 10................ Understanding the “Product Development Cycle” in Islamic Finance

Challenges in bridging the gap between theory and practice

15:45-16:00 TEA/COFFEE BREAK

16:00-17:30 SESSION 11................ Innovations and progress in Takaful

Analysing developments in Mudaraba, Wakala, Hybrid and Waqf Models -

Key issues and challenges

Day 3 - Sunday, 15th September 2013

09:00-10:15 SESSION 12............... Revisiting Innovation and Product Development: The fundamental role of

Shari’ah Objectives as rooted in ethics and morality

Reviewing the concept of ‘Best Practice’

10:15-10:30 TEA/COFFEE BREAK

10:30-12:30 SESSION 13.............. Innovations in Structuring Shari’ah Products

A Redefined Approach – 1

Murabaha

Istisna’a

Salam

12:30-13:15 LUNCH/PRAYER BREAK

13:15-15:15 SESSION 14............. Innovations in Structuring Shari’ah Products

A Redefined Approach – 2

Ijarah

Musharakah

Mudarabah

15:15 – 15:30 TEA/COFFEE BREAK

15:30-16:15 SESSION 15............ Exercise 3: Product development the numerous challenges

Group Activity

16:15-17:15 SESSION 16 ........... Panel Discussion

Staying true to Shari’ah ethical and moral values –

Is it possible to add substance to the existing form-based industry template?

17:15-17:30 CLOSING ADDRESS AND AWARD OF CERTIFICATE

Page 4 of 5

Hikmah: wisdom, wisdom, meaning the meaning underlying wisdom the underlying for establishing wisdom for

justice establishing through the goals justice and “IIBI objectives through reserves of the the Shari’ah goals the so right that and to objectives amend/change of the the

universal principles, reason and knowledge prevail to determine

one's Shari’ah actions and & well-being the of of society.

programme society. It represents It represents ‘Knowledge

without prior ‘Knowledge notice”

of

of the truth, acting acting upon it, upon correctness it, correctness in speech and action.’ in speech and action.’


7TH ANNUAL THREE-DAY WORKSHOP

Friday 13th – Sunday 15th September 2013

STRUCTURING INNOVATIVE ISLAMIC FINANCIAL PRODUCTS

Venue : Ernst & Young LLP, 1 More London Place, London, SE1 2AF, UK

Institute of Islamic Banking and Insurance

The Institute of Islamic Banking and Insurance (IIBI) is a

registered charity dedicated solely to the learning and

development of individuals and giving them the very best

knowledge and practical understanding in key areas of

Islamic finance operations.

"There would have been no career in Islamic

financial services, for me and many of my

friends, without IIBI.”

Richard Thomas OBE, CEO - Gatehouse Bank, London, UK

Hosted By

REGISTRATION FORM

BY POST : Please complete and send to the following address

Mr. Farhan Rafiq Quadri, IIBI

7 Hampstead Gate, 1A Frognal, London, NW3 6AL, UK

Email: farhan.quadri@islamic-banking.com

Te l . +44(0)20 7433 0840 Fax +44(0)20 7433 0849

Personal Particulars

Name: Mr/Mrs/Ms/other (please specify)

Designation:

Company Name:

Address:

Register

Online

Ernst & Young is a global leader in assurance, tax,

transactions and advisory services.

Tel:

Email:

Supporting Organisations

AAOIFI - The Accounting and Auditing Organization for Islamic Financial

Institutions is an Islamic international autonomous non-for-profit corporate

body that prepares accounting, auditing, governance, ethics and Shari'ah

standards for Islamic financial institutions and the industry.

Workshop Fee ( Without accomodation )

Delegate Fee ............

£1,090

Group Discount

For 3 or more persons, contact IIBI

Hotel Accommodation

For help with hotel accommodation, contact IIBI

ISRA - International Shari’ah Research Academy for Islamic Finance is

dedicated to promoting applied research in the area of Shari’ah and

Islamic finance.

CISI - The CISI is the largest and most widely respected professional

body for those who work in the securities and investment industry in the

UK and in a growing number of major financial centres around the world.

Media Partner

Payment

Cheque / bank draft in GB pounds made payable to

Institute of Islamic Banking and Insurance (Registration form sent by post)

Telegraphic / Wire Transfer to the following account:

Bank Name: Lloyds TSB Plc

Account Name: Institute of Islamic Banking and Insurance

Account No.: 01099227

Sort code: 30-94-81

Please debit the sum of GB pounds ___________ for workshop

fee to my credit card O Master O Visa O American Express

Card Holder’s Name:

Card No:

Expiry Date: (mm-yy) Total Amount: GB £

IFIS - Islamic Finance Information Service (IFIS) is the premier news,

research and data online service designed for the Shari’ah-compliant

financial industry

Signature:

Date:

Page 5 of 5

Cancellation and Refund of Fee

In case of cancellation of registration, registration fee will be

refunded after deduction of £190.00 not less then three weeks

prior to the date of the workshop

More magazines by this user
Similar magazines