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Shariah Requirements and Arrangement for Islamic Financial Products & Features
• Ijarah • Istisnah • Waad

SIDC CPE-approved: 10 CPE Points

Date: 27th March 2017
Venue: InterContinental Hotel, KUALA LUMPUR

Download Seminar Brochure

COURSE BACKGROUND

Bank Negara Malaysia recently released and continues to release detailed Shariah guidelines, requirements and 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 Ijarah, Istisnah and Waad. Industry experts will cover the most important elements of each, and will identify key areas for attention and action.

KEY LEARNING OUTCOMES

  • Identify and evaluate recent regulatory and Shariah requirements and arrangements 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
  • Assess and evaluate recent Shariah requirements and optional practices for Istisnah-based structures and products
  • Understand the potential convertibility of Istisnah into Tawarruq based structures
  • Examine and evaluate recent Shariah requirements and arrangements for Waad based structures and products
  • Ensure Shariah compliance throughout product development and facilitation for Ijarah, Istisnah and Waad and various combinations

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

Session One (9:00 – 10:45): Shariah Requirements, Optional Practices and Arrangement for Ijarah
  • Identifying and evaluating recent Shariah requirements for Ijarah-based structures and products
  • Analysing the management of Ijarah-based contracts: use of assets, usufruct
  • Discussing the arrangement of Ijarah and identifying Shariah issues: Ijarah with sales, forward, sub-lease and lease-back 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 (10:45 – 11:15)
Session One (11:15 – 12:45): Shariah Requirements, Optional Practices and Arrangement for Ijarah (continued)
  • Analysing the management and arrangement of Ijarah muntahiyah bi tamlik
  • Highlighting and discussing key Shariah requirements and practices of Ijarah muntahiyah bi tamlik

Mohd. Johan Lee — Managing Partner, J. Lee & Associates

Luncheon (12:45 – 14:00)
Session Two (14:00 – 15:30): Shariah Requirements, Optional Practices and Arrangement for Istisnah
  • Identifying opportunities for banks to incorporate Istisnah and assessing its convertibility into Tawarruq structures
  • Examining and evaluating recent Shariah requirements for Istisnah
  • Discussing the arrangement of Istisnah and identifying key Shariah issues
  • Assessing the incorporation of Istisnah with other contracts
  • Evaluating Shariah issues associated with dissolution and completion of Istisnah
  • Ensuring Shariah compliance throughout product development and facilitation

Associate Professor Dr Hakimah Yaacob — Senior Assistant Professor, Sultan Sharif Ali Islamic University (UNISSA) Brunei Darussalam

Coffee (15:30 – 16:00)
Session Three (16:00 – 17:00): Shariah Requirements, Optional Practices and Arrangement for Waad
  • Identifying opportunities for banks to incorporate Waad structures and features
  • Examining and evaluating recent Shariah requirements for Waad
  • Discussing the arrangement of Waad and identifying key Shariah issues
  • Assessing the incorporation of Waad with other contracts
  • Evaluating Shariah issues associated with dissolution and completion of Waad
  • Ensuring Shariah compliance throughout product development and facilitation

Associate Professor Dr Hakimah Yaacob — Senior Assistant Professor, Sultan Sharif Ali Islamic University (UNISSA) Brunei Darussalam

Coffee and Networking (17:00)

EXPERT COURSE DIRECTORS

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 Hakimah Yaacob Senior Assistant Professor, Sultan Sharif Ali Islamic University (UNISSA) Brunei Darussalam

Associate Professor Dr Hakimah Yaacob is a senior Assistant Professor of Sultan Sharif Ali Islamic University (UNISSA) Brunei Darussalam. Prior to this, she was an associate Professor at Faculty of Laws, National University Malaysia. She holds Bachelor and Master Degree in Law and PhD in Victimology and Takaful Justice. She is member of Shariah committee of Citibank Malaysia and Citibank Labuan. She has a broad professional experience in the Islamic finance industry, academia and consulting and a primary research focus on Islamic finance, legal, ethics, restorative justice, Alternative Dispute Resolution (ADR), regulatory framework and Islamic legal drafting. She is a certified mediator and a member of The Chartered Institute of Arbitrators, UK and certified mediator of Australian Accord Group. She has been appointed as a court expert in Islamic finance cases in Malaysia and Hong Kong. Dr Hakimah is an expert in writing and drafting Islamic Legal documentation and has published a book on ‘Writing Islamic Legal Documentation, sponsored and published by the KPJ Publication. She is also the author of ‘Alternative Dispute Resolution in Cross Border Islamic Finance Cases’ published by ISRA, Bank Negara Malaysia. Dr Hakimah’s consulting assignments have included drafting the regulatory framework for Islamic Finance in Maldives and China. She is also currently assisting with the development of Islamic wealth management structures in a number of states and statutory bodies in Malaysia. Dr Hakimah is actively involved with advising on Shariah compliance issues in banking, trade and services.

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 advisers, 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.

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