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Shariah Requirements and Arrangement
• Hibah, Wadiah, Qard & Rahn
• Wakalah & Kafalah

SIDC CPE-approved: 10 CPE Points

Date: 31st July 2017
Venue: InterContinental Hotel, KUALA LUMPUR

Download Seminar Brochure

COURSE BACKGROUND

Bank Negara Malaysia recently released 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 Hibah, Wadiah, Qard, Rahn, Wakalah and Kafalah. 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
  • Examine and evaluate recent Shariah requirements and arrangements for Hibah, Wadiah, Qard and Rahn
  • Assess and evaluate recent Shariah requirements and optional practices for Istisnah-based structures and products
  • Assess and evaluate recent Shariah requirements and optional practices for Wakalah and Kafalah-based structures and products
  • Understand and absorb the key to effective Shariah review for Islamic banking operations offering Hibah, Wadiah, Qard, Rahn, Wakalah and Kafalah contracts and features
  • Understand Shariah issues associated with dissolution and completion
  • Ensure Shariah compliance throughout product development and facilitation for Hibah, Wadiah, Qard, Rahn, Wakalah, Kafalah 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 – 11:15): Shariah Requirements, Optional Practices and Arrangement for Hibah, Wadiah, Qard & Rahn
  • Identifying opportunities for banks to incorporate Hibah, Wadiah, Qard and Rahn structures and features
  • Examining and evaluating recent Shariah requirements for Hibah, Wadiah, Qard and Rahn
  • Discussing the arrangement of Hibah, Wadiah, Qard and Rahn structures and identifying key Shariah issues
  • Assessing the incorporation of Hibah, Wadiah, Qard and Rahn with each other as well as other contracts
  • Evaluating Shariah issues associated with dissolution and completion of Hibah, Wadiah, Qard and Rahn
  • 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 and Networking (11:15 – 11:45)
Session Two (11:45 – 13:00): Shariah Requirements, Optional Practices and Arrangement for Wakalah & Kafalah
  • 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 Aishath Muneeza — International Centre for Education in Islamic Finance

Luncheon (13:00 – 14:15)
Session Two (14:15 – 15:30): Shariah Requirements, Optional Practices and Arrangement for Wakalah & Kafalah(continued)

Associate Professor Dr Aishath Muneeza — International Centre for Education in Islamic Finance

Coffee and Networking (15:30 – 16:00)
Session Three (16:00 – 17:00): Addressing Shariah Audit Issues and Management for Hibah, Wadiah, Qard, Rahn, Wakalah & Kafalah
  • Identifying real-life Shariah audit hotspots in Islamic banking operations for the above products and features
  • Effectively undertaking steps towards Shariah risk management and mitigation
  • Incorporating Shariah compliance and Shariah non-compliance reporting

Wan Rizaidy Wan Saufi — Advisor, Capital Markets Unit, Monetary Authority of Brunei Darussalam

Networking (17:00)

EXPERT COURSE DIRECTORS

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

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.

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

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.

Wan Rizaidy Wan Saufi Advisor, Capital Markets Unit, Monetary Authority of Brunei Darussalam

Wan Rizaidy has many years of experience in both capital markets and Islamic finance, ranging from regulatory body, national exchanges and international banks. His primary area of focus is Shariah investment business, products and services, including Islamic hedging solutions. Prior to joining Monetary Authority of Brunei Darussalam (AMBD), where he currently holds the position of advisor to the capital markets unit, he was the head of Shariah audit for Hong Leong Islamic Bank. Prior to this he was attached to Saudi Stock Exchange (Tadawul), Bursa Malaysia, Kuwait Finance House (Malaysia), Standard Chartered Saadiq and the Securities Commission (SC) of Malaysia. He has been responsible for various Islamic capital market development initiatives such as Islamic stockbroking, Islamic fund management and exchange traded retail Sukuk in Malaysia and Sukuk market development project in Kingdom of Saudi Arabia. Wan Rizaidy holds a Bachelor of Economics degree from the International Islamic University Malaysia specializing in Islamic Economics

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.
    • Identify and understand the announcement and implementation timetable for regulatory and Shariah standards and requirements
    • 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.

+603 2162 7800
[email protected]

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