A 3-day Practical and Interactive Approach for
Comprehensive Understanding of Shariah and Legal Hotel Istana Kuala Lumpur, Malaysia
Aspects in Islamic Financial Products and Instruments 11 - 13 April 2011
SHARIAH & LEGAL ISSUES
IN ISLAMIC BANKING
& CAPITAL MARKETS
Exploring and Highlighting Issues and Procedures in Shariah and
Legal Aspects in All Major Products in Islamic Finance
Expert Course Trainers By attending this workshop you will learn:
Assoc. Prof. Dr Engku Rabiah Adawiah • Shariah and Fiqh rulings in Islamic financial contracts
Private Law Department
International Islamic University Malaysia • Shariah and legal issues in Islamic consumer banking
• Shariah and legal issues in Islamic corporate banking
Dr. Aznan Hasan
Islamic Law Department • Practical legal issues in Islamic banking and finance
International Islamic University Malaysia • Legal and regulatory framework for Islamic financing
Megat Hizaini Hassan • Legal documentation in Islamic banking: Issues and
Partner & Head, Islamic Banking and Finance challenges
Lee Hishammuddin Allen & Gledhill
• Shariah and legal issues in BBA and Murabahah
Ahmad Lutfi Abd Mutalib financing
Partner • Shariah and legal issues in Musharakah Mutanaqisah
Azmi & Associates
financing
• Shariah and legal issues in Ijarah and AITAB financing
• Shariah and legal issues in Islamic bonds market: Sale
based products and instruments
• Shariah and legal issues in Islamic bonds market: Lease
based products and instruments
• Legal documentation for Islamic securities
This workshop is packed with case studies and group exercises as well as short assessment to achieve
optimum understanding on the subject matter and led by dedicated and outstanding course trainers.
www.cert.com.my
“Your Partner in Islamic Finance Training and Development”
DO NOT MISS THE OPPORTUNITY TO ENHANCE YOUR KNOWLEDGE
THE PROGRAMME
Day One 11 April 2011 (Mon) Day Two 12 April 2011 (Tue)
Essential Shariah and Fiqh Rulings in Islamic Shariah and Legal Issues in Islamic Consumer
Commercial Contracts Banking - Lease Based and Other Financing
Islamic law, Fiqh and Muamalat Salient features of lease contract
Riba vs. Interest Consumer banking - financing based on leasing
Islamic operating lease (Ijarah)
Prohibition of riba and gharar
Shariah and legal issues in Islamic operating lease
Gharar in contracts
Islamic financial lease (AITAB)
Business contracts recognised in Islamic law Shariah and legal issues in Islamic financial lease
Partnership contracts in Islamic law Musharakah Mutanaqisah financing
Shariah and legal Issues in Musharakah Mutanaqisah
Regulatory Framework and Legal Issues for financing
Sample of common flaws in Ijarah documentation
Islamic Financing
What laws apply?
Shariah and Legal Issues in Islamic Consumer
BAFIA, IBA and DFIA
Litigation in Islamic banking
Banking - Deposit Services
Deposit services products
Arbitration in Islamic banking
Islamic saving and current account
Issues and challenges Wadiah and Wadiah Yad Damanah
Legal documentation – the burden? Contract of Daman/Kafalah
Shariah and legal issues associated in Islamic saving
Shariah and Legal Issues in Islamic Consumer account
Types and Issues of Islamic investment accounts
Banking - Sale Based Financing Negotiable Islamic debt certificates
Framework of Islamic consumer banking Malaysian government investment certificates
Consumer banking products based on sale based financing Islamic credit/charge card
General principles in BBA and Murabahah
Essential conditions for sale contracts (BBA and Murabahah) Shariah and Legal Issues in Islamic Corporate
Shariah and legal issues in BBA and Murabahah Banking
Special features for Tawarruq Framework of Islamic corporate banking
Shariah and legal issues in Tawarruq Trade financing
Other contentious issues in BBA, Murabahah and Project financing
Tawarruq Syndicated financing
Sample of common flaws in documentation Revolving financing
Special features for Bay al Salam and Bay al Istisna’ Foreign exchange
Letter of guarantee
Shariah and legal issues in Bay al Salam and Bay al Istisna’
Islamic accepted bill etc.
Other contentious issues in Bay al Salam and Bay al Istisna’
Sample of common flaws in documentation
Products Case Study
House Financing: Musharakah Mutanaqisah
Products Case Study Asset Financing: Operating Lease & Financial Lease
Personal Financing: Murabahah vs Tawarruq Project Financing: Musharakah & Mudarabah
House Financing: Istisna’ Project Financing: Parallel Istisna’
Credit Card: Murabahah Tawarruq Islamic Factoring
Organised Tawarruq - Murabahah Commodity
Group Exercise 1
Delegates will examine several contracts based on the case
study given. Products will be discussed during group
exercise are as follows:
Islamic House Financing
Islamic Saving Account
Islamic Investment Account
Islamic Trade Financing
Practical approach for optimum understanding of Shariah and Legal Issu
IN THIS VALUABLE PROGRAMME IN ISLAMIC FINANCIAL PRODUCTS
About the Workshop
The workshop is exclusively designed to
Day Three 13 April 2011 (Wed) provide a comprehensive and practical
knowledge on Shariah and Legal issues in
Shariah and Legal Issues in Islamic Funds Islamic Banking and Securities Market. The
Instrument of Islamic Capital Market programme will be covering in detail all major
Contract in Islamic Capital Market aspects of Shariah and legal issues in both
Islamic mutual fund / unit trust banking and capital market. The course
Overview of equity market
Islamic screening process
leaders/speakers are widely recognised in
Islamic Real Estate Investment Trust funds (IREITs) their respective areas. The end focus of the
Islamic ETF workshop is to equip the participants with
Islamic private equity comprehensive, practical and up-to-date
Islamic venture capital knowledge in Islamic financial system. The
workshop also will give more confidence to
Shariah and Legal Issues in Structured Products
Islamic banking and finance practitioners as
and Derivatives Instruments well as practising lawyer/legal officer to
Structured products: Products features
Equity-linked products convince their would-be or existing customers
Commodity linked products on the distinct featuresof Islamic banking &
Capital protection finance.
Derivatives features
Derivatives: Products and instruments
Course Methodology
Shariah and Legal Issues in Sukuk The participants will achieve benefit from this
Sukuk & securitization: Concept and defination intensive workshop through a series of
Sukuk vs. equity investment practical group exercises based on actual
Sukuk additional features
case studies. Group exercises will be by way
Structuring Sukuk
The phase in Sukuk structuring (primary) of discussions of problems and case studies
The phase in Sukuk structuring (secondary) where the group will be asked to propose
Redemption of Sukuk several Islamic financing structure. A
Evaluating the trends in Sukuk structures: The main drivers dedicated and knowledgeable course leaders,
Types of Sukuk structured
Risk and issues
will provide the delegates with optimum
Legal frameworks and documentation for Sukuk satisfaction and understanding on the subject
Legal issues in cross border Sukuk transaction & jurisdiction matters be it Shariah issues or Legal issues in
Case studies on recent Sukuk issuances in global market Islamic financial products. The aims of this
workshop is to combine the theory and
Products Case Study practice. This will provide the participants
BBA / Murabahah / Istisna’ Sukuk
Ijarah Sukuk
with the ability to apply their knowledge, skills
Mudarabah Sukuk / Musharakah Sukuk and techniques in real-life situation.
Islamic Asset-Backed Securities
Course Timing
The workshop will commence at 0900 everyday and
Group Exercise 2 finish at 1700. Registration will take place at 0830 on
In this session, delegates are asked to structure Islamic Fund Day One. There will be 3 breaks at appropriate
& securites products using several Islamic financial contracts intervals for refreshments and lunch. Morning coffee
based on the case studies given. The general aim is to equip will also be provided at 0830.
delegates to understand and how to structure of the following
Islamic securities products:
Stock Screening Process HURRY! CALL us @ +603 41081439
Sukuk
Islamic asset-backed securities for enquiry and registration
www.cert.com.my
ues in Islamic Banking & Finance
BY COMPLETING THE WORKSHOP YOU WILL ABOUT YOUR EXPERT COURSE TRAINERS
Acquire the knowledge on Shariah Principles Dr. Engku Rabiah Adawiah is currently an Associate
in Islamic Banking and Finance Professor at Ahmad Ibrahim Kulliyyah of Laws,
International Islamic University Malaysia (IIUM). She
Analyse the role of Shariah and Legal obtained her LLB (First Class Honours) and LLB (Shari’ah)
aspects in Islamic financial system (First Class Honours) from the IIUM. Shortly thereafter,
she successfully completed her Masters of Comparative
Understand the doctrine of prohibition of riba, Laws (MCL) with distinction from the same university. She
gharar and maysir as well as types of contracts was conferred with PhD in Law (Securities Regulation)
in Islamic law from the University of Aberdeen, United Kingdom. She teaches both
Shari’ah and civil law; particularly on the subjects of Islamic transactions,
Understand and learn the legal and company law, law of contracts and Islamic banking and securities at both
regulatory framework for Islamic finance in undergraduate and postgraduate levels. Her research interest is in
securities regulation, company law, Islamic law of transaction, and
Malaysia and global market Islamic banking and finance. Her publications include articles in some
Identify products and instruments in Islamic journals and periodicals in Malaysia and international. She also serves
banking and finance as a member of Shariah advisor and consultant to several financial
institutions and legal firms. Currently, she is a member of the Syariah
Identify the criteria and principles in Advisory Council (SAC) of Bank Negara Malaysia, and an independent
developing Islamic financial products Shariah advisor for Islamic securities issuance, approved by and
registered with the Malaysian Securities Commission. In addition, she is
Examining several issues of legal
also a member of the investigation tribunal for the Malaysian Bar Council.
documentation in Islamic banking and finance
Understand the principles and structure of Dr. Aznan Hasan is currently a lecturer at the Islamic
Law Department, Ahmad Ibrahim Kulliyyah of Laws,
Islamic securities market International Islamic University Malaysia (IIUM). He
Explore the shariah and legal issues in Islamic received his first degree in Shariah from from University
securities of Al Azhar, Egypt. He then successfully completed his
Master Degree in Shariah from Cairo University with
Review and update the legal issues and distinction and the board of examination has
challenges in the implementation and recommended that his thesis be published. He then obtained his PhD in
Islamic Law from the University of Wales in United Kingdom. He also
development of Islamic finance in Malaysia serves as a member of Shariah committee to one of the leading financial
and around the globe. institutions in Malaysia. He taught several subjects such as Islamic legal
theory and Islamic law of transactions. He is a Shariah advisor for Bursa
Malaysia and an independent Shariah advisor for Islamic securities
issuance, approved by and registered with the Malaysian Securities
WHO WILL ATTEND Commission.
Central Bankers and Regulators Megat Hizaini Hassan is partner and head of Islamic
Chairman, Members of Board of Directors Banking and Finance Practice Lee Hishammuddin Allen
& Gledhill. Megat Hizaini Hassan advises on matters
Chief Financial Officers relating to Islamic banking and finance, as well as
Senior Managers of Islamic banking corporate legal and regulatory developments. He has
also advised domestic and international clients on issues
Senior Managers of Takaful and Insurance relating to the legal and regulatory framework of Islamic
Senior Financial/Auditor banking and finance, as well as matters relating to applicable Shariah
standards for Islamic financial/investment transactions in Malaysia and
Corporate Treasurers abroad. Prior to joining the firm, he was practising at Zaid Ibrahim & Co.
Financial Controllers and was involved as a director of ZI Shariah Advisory Services Sdn Bhd,
a Shariah compliance advisory firm registered with the Securities
Finance and Account Managers Commission of Malaysia. He was also previously a lecturer at the
Fund Managers and Remisiers Kulliyyah of Laws, International Islamic University, Malaysia.
Accountants, Auditors and Compliance Officers Ahmad Lutfi is graduated from the International Islamic
Academicians, Researchers and Consultants University Malaysia with an LL.B (Hons.) in 1995. He
spent the term of his pupilage with Messrs Allen &
Islamic Financial Consultant/ Shariah Advisor Gledhill and was admitted to the Malaysian Bar in
Corporate Lawyers 1996. Lutfi has also obtained his professional
qualification from the Institute of Chartered Secretaries
Other interested parties and Administrators (ICSA) and graduated from the
Institute in February 1996. He joined Messrs Hisham, Sobri & Kadir in
Aprill 1996. He became a partner of Hisham Sobri & Kadir Advocates
& Solicitors in January 2000. He is a founding partner of Azmi &
IN HOUSE TRAINING Associates. Lutfi is a partner of Azmi & Associates and is responsible for
Similar programme can be customised to the needs the development of the Financial Services Practice Group and the
Mergers, Acquisitions and New Ventures Practice Group.
of your organisation. To finding more on our
unique range of successful in-house
programme, please do not hesitate to call us at: Hurry! Don’t delay. The space is
(603) 41081439/9012 or email at
info@cert.com.my (www.cert.com.my)
limited. Participation is based on
“First Come First Served”
3-Day Intensive Workshop on HOW TO REGISTER
SHARIAH & LEGAL ISSUES IN Send all correspondence to:
Ana Salwa (Manager for Training)
ISLAMIC BANKING AND CERT Events Sdn. Bhd. (665109-H)
277, Jalan Bandar 11, Metro Melawati
CAPITAL MARKETS 53100 Kuala Lumpur, Malaysia.
11 - 13 April 2011 Any queries please call:
Hotel Istana Kuala Lumpur, Malaysia Tel: +603 4108 1439
Fax the Form below to:
Fax: +603 4106 1549
WORKSHOP INFORMATION
Send your details by email:
EARLY BIRD FEE: Before 30 March 2011 ana@cert.com.my
RM3,000.00 / USD1,000.00 per person
We will send you a confirmation note on receiving your
REGULAR FEE: After 30 March 2011 registration form.
RM3,500.00 / USD1,200.00 per person
The fee includes lunch, refreshments, workshop documentation and
certificate of attendance. Name 1
HOW TO PAY Position
Workshop fees must be paid before commencement of
the programme. Email
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 Name 2
receive a letter outlining details two weeks prior to the event please
contact the event coordinator at CERT Event.
Position
SPECIAL GROUP DISCOUNT Email
Discount of 5% for 2 participants from the same (Please photocopy for more participants)
organisation.
Discount of 10% for 3 or more participants from the
same organisation. Organisation Name
Address
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 Postcode
in writing not later than 2 weeks prior to the workshop
date. Unfortunately, only a 25% refund and documentation Phone
workshop will be given for cancellation received within 2
weeks before programme commencement. Fax
We reserve the right to reschedule the workshop due to circumtances
beyond our control.
Approving Officer
INCORRECT MAILING ADDRESS
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incorrect company details on the address, please accept
our apologies. If this occurs, kindly notify us so that we Position
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HOTEL ACCOMODATION Email
Hotel is not included in the workshop fee. To reserve
accommodation at the event venue, please contact hotel
address below: The organiser reserves the right to cancel/amend the programme in extreme
circumstances. Should this occur, they will endeavour to advise delegates at
Hotel Istana Kuala Lumpur the earliest opportunity but take no responsibility for any irrecoverable costs
73, Jalan Raja Chulan on the part of the delegates, eg. air fares, hotel costs. Obviously, attendance
50200 Kuala Lumpur, Malaysia fees would, in such circumstances, be fully refundable at the delegate’s
T : +603.2141.9988 F : +603.2144.0111 option.
E : general@hotelistana.com.my
www.cert.com.my