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Shariah Requirements & Arrangements for Islamic Financial Products & Features
• Hibah, Wadiah & Qard • Wakalah & Kafalah • Ijarah

SIDC CPE-approved: 10 CPE Points

Date: 27th October 2016
Venue: DoubleTree Hotel, Kuala Lumpur

Download Seminar Brochure

COURSE BACKGROUND

Bank Negara Malaysia recently released detailed Shariah guidelines, requirements, optional practices and arrangements for various Islamic financial contracts, products and features. Following on from this, banks and financial institutions will be required to submit actions plans based around these requirements and practices. As such, a great deal of important information gathering and analysis will have to take place in a relatively short period of time.

REDmoney Seminars is pleased to offer an insightful, concise and incisive update on the Shariah standards and requirements, optional practices and arrangements for Hibah, Wadiah, Qard, Wakalah, Kafalah and Ijarah. Industry experts will cover the most important elements of each, and will identify key areas for attention and action.

KEY LEARNING OUTCOMES

  • Identify and understand the announcement and implementation timetable for regulatory and Shariah standards and requirements
  • Assess and evaluate recent Shariah requirements and optional practices for Wakalah and Kafalah-based structures and products
  • Examine and evaluate recent Shariah requirements and arrangements for Hibah, Wadiah & Qard
  • Understand and absorb the key to effective Shariah audit and review for Islamic banking operations offering Hibah, Wadiah, Qard, Wakalah and Kafalah contracts and features
  • Ensure Shariah compliance throughout product development and facilitation for Hibah, Wadiah, Qard, Wakalah, Kafalah and Ijarah and various combinations
  • Identify and evaluate recent Shariah requirements for Ijarah-based structures and products, including Ijarah combinations with other contracts
  • Highlight and discuss key Shariah requirements and practices of Ijarah muntahiyah bi tamlik

For enquiries please contact:

Normariya Sariman
Account Manager, REDmoney Seminars
[email protected]
Direct Line: +603 2162 7800 ext 44

Ramesh Kalimuthu
Events Sales Director
[email protected]
Direct Line: +603 2162 7800 ext 65
Fax: +603 2162 7810

For sponsorship & speaking opportunities:

Andrew Tebbutt

Managing Director
[email protected]
Direct Line: +603 2162 7802

For marketing and media enquiries

Govina Selvanthran

Marketing Manager
[email protected]
Direct Line: +603 2162 7800 ext 22

If you are looking for an in-house training program or wish to send a group to an existing public program, kindly please contact Andrew Tebbutt at [email protected] or +603 2162 7802.
Learn More

AGENDA

Welcome (9:00 – 9:15)
Session One (9:15 – 10:45): Shariah Requirements, Optional Practices and Arrangemensts for Wakalah and Kafalah
  • Identifying and evaluating recent Shariah requirements for Wakalah and Kafalah-based structures and products
  • Discussing the arrangement of Wakalah and Kafalah-based structures and identifying key Shariah issues
  • Assessing the combination of Wakalah and Kafalah with other contracts
  • Evaluating Shariah issues associated with dissolution and completion of Wakalah and Kafalah-based structures and products
  • Ensuring Shariah compliance throughout product development and facilitation

Associate Professor Dr Rusni Hassan — Deputy Dean IIUM Institute of Banking & Finance and member, Shariah Advisory Council, Bank Negara Malaysia

Coffee (10:45 – 11:00)
Session Two (11:00 – 12:30): Shariah Requirements, Optional Practices and Arrangements for Hibah, Wadiah and Qard
  • Identifying opportunities for banks to incorporate Hibah, Wadiah and Qard structures and features
  • Examining and evaluating recent Shariah requirements for Hibah, Wadiah & Qard
  • Discussing the arrangements of Hibah, Wadiah and Qard structures and identifying key Shariah issues
  • Assessing the combination of Hibah, Wadiah and Qard with each other as well as other contracts
  • Evaluating Shariah issues associated with dissolution and completion of Hibah, Wadiah & Qard
  • Ensuring Shariah compliance throughout product development and facilitation

Associate Professor Dr Aishath Muneeza — International Center for Education in Islamic Finance (INCEIF)

Luncheon (12:30 – 13:45)
Session Three (13:45 – 15:15): Shariah Requirements, Optional Practices and Arrangement for Ijarah
  • Identifying and evaluating recent Shariah requirements for Ijarah-based structures and products
  • Analyzing the management of Ijarah-based contracts: use of assets, usufruct
  • Discussing the arrangements of Ijarah and identifying Shariah issues: Ijarah with sales, forward, sublease and leaseback structures
  • Assessing the incorporation and combination of Ijarah with other contracts, such as waad, and discussing key Shariah and structuring issues
  • Evaluating Shariah issues associated with dissolution and completion of Ijarah

Mohd Johan Lee — Managing Partner — J Lee & Associates

Coffee (15:15 – 15:30)
Session Three (15:30 – 16:15): Shariah Requirements, Optional Practices and Arrangements for Ijarah (continued)
  • Analyzing the management and arrangement of Ijarah Muntahiyah Bi Tamleek
  • Highlighting and discussing key Shariah requirements and practices of Ijarah Muntahiyah Bi Tamleek

Mohd Johan Lee — Managing Partner — J Lee & Associates

Coffee and Networking (16:15)

EXPERT COURSE DIRECTORS

Associate Professor Dr Rusni Hassan Member, Shariah Advisory Council, Bank Negara Malaysia Deputy Dean, IIUM Institute of Islamic Banking and Finance

Dr Rusni Hassan is an associate professor and the deputy dean at the IIUM Institute of Islamic Banking and Finance, International Islamic University Malaysia (IIUM). She graduated with a Bachelor of Laws degree (Honors), a Bachelor of Laws degree (Shariah) (First Class), a Master of Comparative Laws degree and a PhD in law. She is a member of the following: Shariah Advisory Council for Bank Negara Malaysia, Association of Islamic Banking Institutions Malaysia, Shariah Committee for HDFC and HDC Maldives. She is a registered Shariah advisor with the Securities Commission Malaysia and is the secretary for the Association of Shariah Advisors in Islamic Finance Malaysia and the International Council of Islamic Finance Educators.

Dr Rusni has spoken extensively in seminars, workshops, conferences and trainings on various Islamic finance issues. Her publications include books on Islamic banking and Takaful, Islamic banking under Malaysian law, corporate governance of Islamic financial institutions and many articles in local and international journals. She has received awards such as ‘Promising Researcher’ at IIUM in 2012. Her works and contribution to Islamic finance have also been recognized internationally when she was listed among the ‘Top 10 Women in Islamic Finance’ by CPI Financial in 2013. She also received the award of ‘Most Talented Women Professional in Islamic Banking’ at the Asia Islamic Banking Excellence Awards, CMO Asia in 2014.

Mohd Johan Lee Managing Partner, J Lee & Associates

Johan is the managing partner of J. Lee & Associates, a legal firm in Malaysia. He graduated with LLB (Hons) degree from International Islamic University Malaysia. He also holds a Master of Comparative Laws degree, a post-graduate Diploma in Shariah and Legal Practice both of which from International Islamic University Malaysia and, an MA in Economics for Competition Law from King’s Collage London. He is currently a qualified member of the Chartered Institute of Arbitrators, UK as well as a mediator of the Malaysian Bar. He is an advocate and solicitor of the High Court of Malaya. Proficient in English, Malay language, Mandarin, he is also the first Chinese origin Shariah practitioner ever admitted by the Shariah court. His current practice includes corporate and commercial law, competition law, compliance and Islamic corporate finance related matters. He is instrumental in developing Islamic banking, Takaful and Islamic corporate finance documents and exercises for several financial institutions as well as corporate and governmental entities in Malaysia. Johan lectured in the law faculty of International Islamic University Malaysia since 1999 for both undergraduate and postgraduate law programmes. He has taught for a special exclusive diploma programme in Islamic Banking, jointly offered by IIUM and the Bar Council. He also lectures occasionally in various other local universities, Bank Negara Malaysia (BNM), as well as Institute Latihan Kehakiman (ILKAP) and Jabatan Kehakiman Syariah Malaysia (JKSM) for both civil courts and Shariah courts judges concerning Islamic banking. In 2006, he was a visiting scholar to the Asian Law Centre of the University of Washington. He is currently a Shariah consultant to governmental agencies as well as government-funded banks. He is the author of the book ‘Legal Documentation for Islamic Banking’ published by the IBFIM, and co-author of an upcoming book ‘Islamic Financial Services Act 2013: Commentaries’ to be published and launched by the Current Law Journal. Johan is now a member of the Shariah Advisory Council (SAC) of the Association of Islamic Banks Malaysia (AIBIM and is a consultant to new law practices in Malaysia, Brunei, Singapore, Indonesia and the UK.

Associate Professor Dr Aishath Muneeza International Centre for Education in Islamic Finance (INCEIF)

Dr Aishath Muneeza is one of the key founders of Islamic finance in the Maldives, a small island nation with a 100% Muslim population. She has experience in multiple aspects of the Islamic finance industry and is a Shariah advisor, an Islamic finance consultant, an attorney and a deputy minister, among others. She was the driving force behind the establishment of Maldives Hajj Corporation, the ‘Tabung Haji’ of the Maldives and structured the first corporate Sukuk offered in the Maldives. She also structured the Islamic treasury instruments for the Maldivian government and the Islamic capital market framework of the country was shaped under her guidance.

Dr Aishath’s contribution to the Islamic finance industry has been recognized by the government of the Maldives which conferred on her the prestigious ‘Rehendhi Award’ – the highest award for women. She was the first to publish books on Islamic finance in the Dhivehi language and co-authored the winning essay at the 2010 Kuala Lumpur Islamic Finance Forum.

Dr Aishath is an associate professor at the International Center for Education in Islamic Finance (INCEIF) and the chairwoman of the Maldives Center for Islamic Finance which was set up by the government to position the Maldives as the hub of Islamic finance and the Halal industry in the South Asia region.

Who Will Benefit?

  • The seminar will be highly beneficial to anyone in a bank or financial institution involved in the structuring, development, marketing and risk management of Islamic financial products.
    • Islamic bankers and management
    • Shariah advisors, officers, control and review staff
    • Compliance officers and in-house counsel
    • Risk managers
    • Product development officers
    • Operations managers
    • Consultants and advisors
    • Financial audit and review team members
    • Regulators and supervisory bodies

For enquiries please contact:

Normariya Sariman
Account Manager, REDmoney Seminars
[email protected]
Direct Line: +603 2162 7800 ext 44

Ramesh Kalimuthu
Events Sales Director
[email protected]
Direct Line: +603 2162 7800 ext 65
Fax: +603 2162 7810

For sponsorship & speaking opportunities:

Andrew Tebbutt

Managing Director
[email protected]
Direct Line: +603 2162 7802

For marketing and media enquiries

Govina Selvanthran

Marketing Manager
[email protected]
Direct Line: +603 2162 7800 ext 22

If you are looking for an in-house training program or wish to send a group to an existing public program, kindly please contact Andrew Tebbutt at [email protected] or +603 2162 7802.
Learn More

About Us

REDmoney Events designs, organizes and hosts industry-leading conferences, forums, roadshows and seminars focusing on the Islamic financial markets across a global, regional and national level.

+603 2162 7800
[email protected]

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