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seminar logoTawarruq & Ijarah Product, Documentation & Application
Dealing with non-compliance and Shariah risk management

 

Download Brochure

Course Background

Tawarruq is the preferred choice of contract for bankers not just for working capital requirements, but also for asset financing, mortgages, trade financing, fixed deposits, structured investments, and even savings account. In the last decade, Malaysia has experienced a rapid growth in Tawarruq based products for this reason. Hence, ensuring Shariah compliance with the policy document of Bank Negara is of paramount importance for all Islamic financial institutions (IFIs). Even though Sukuk Ijarah has been popularly applied by government and private sectors in ensuring the continuation of economic growth, there are still several issues which continue to be a cause for concern. By way of some policy amendments by Bank Negara and legal precedents set by decided cases, this seminar will highlight some of the new and critical applications that companies need to be aware of moving forward.

This seminar offers comprehensive, concise and insightful update on the Shariah standards and operational requirements as well as legal documentation of both Tawarruq and Ijarah - based products.

Hence, we explore on how we can move beyond some of the traditional Tawarruq and Ijarah concepts by evaluating some new alternatives to improve further discussion amongst industry practitioners to drive innovation in the industry.

COURSE OUTCOMES

  • Understanding the key roles and applications of Tawarruq and Ijarah in Islamic Financial Institutions (IFIs)
  • Examining the legal requirements for Tawarruq and Ijarah-based products
  • Assessing the key Shariah and operational requirements for Tawarruq and Ijarah based on policies set by Bank Negara Malaysia (BNM)
  • Gaining insights from the most recent legal cases on Tawarruq and Ijarah
  • Knowing the requirements for the arrangements with other contracts/concepts in Tawarruq and Ijarah-based products
  • Dealing with Shariah non-compliance incidents
  • Identifying new requirements for Waad and Wakalah policies

Where & When

Date: 18th & 19th February 2020
Venue: DoubleTree, Kuala Lumpur

Who Will Benefit?

  • Product Development Staff
  • Shariah Audit & Shariah Compliance Review Team
  • Senior company management
  • Shariah Committee and Shariah Department
  • Internal Audit
  • Risk Management
  • Corporate lawyers
  • Regulatory authorities

Fee

Early bird : RM2,835
Early Bird: Registrations received on or before 18th January 2020, will receive a 10% discount. No discount shall be given to registrations received after this cut-off date.
Standard : RM3,150 per delegate
2 delegates (5% Discount) : RM2,995 per delegate
3 delegates (15% Discount) : RM2,680 per delegate
4 delegates (25% Discount) : RM2,365 per delegate
5 delegates (30% Discount) : RM2,205 per delegate

In-house/group training

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

Manual Registration

Kindly complete the registration form and email to [email protected] or fax +603 2162 7810

Register Online

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

Seminar Agenda

  • Day One
  • Day Two

Day One

08:30 – 09:00

Registration and Coffee
09:00 – 10:00

Guest Speaker Presentation:
  • The Operationalization of Tawarruq by Islamic Banks in Malaysia – A Mockery or Reality?

Hj. Abdul Rahman Mohd. Yusoff (CPIF, MIM-CPT ), Head - Islamic Product & Business Development, OCBC Al-Amin Bank Berhad

10:00 – 10:30

Tea Break
10:30 – 11:45

Session One : The Role of Tawarruq in IFIs
  • Introduction
  • Understanding the significance of Bank Negara Malaysia (BNM) policies and documents
  • Brief Introduction to Tawarruq & Ijarah
    • Overview of Tawarruq Concept
    • Application of Tawarruq & Ijarah in IFIs
11:45 – 12:45

Session Two: Studying the Policy Document on Tawarruq
  • Conducting a discussion on key points of Part B (Shariah Requirements & Optional Practices) of Tawarruq Policy Document
12:45 – 14:00

Lunch
14:00 – 15:30

Session Three: Operational Requirement of Tawarruq
  • Evaluating the BNM policy document on Tawarruq
  • Shariah requirements
  • Discussing the key points of Part C (Operational Requirements) of Tawarruq Policy Document
15:30 – 16:00

Tea Break
16:00 – 17:00

Session Four: Policy Documents on Waad & Wakalah
  • Discussion on key points of Waad policy document
  • Discussion on key points of Wakalah policy document

Day Two

08:30 – 09:00

Registration and Coffee
09:00 – 10:30

Session One: Discussion on Decided Cases on Tawarruq
  • KFH v AC Property Development
  • KFH v Teknogaya Diversified
  • KFH v Vesta Energy
10:30 – 11:00

Tea Break
11:00 – 12:30

Session Two: Policy Document on Ijarah
  • Discussion on key points of Part B (Shariah Requirements & Optional Practices) of Ijarah Policy Document
12:30 – 14:00

Lunch
14:00 – 15:30

Session Three: Operational Requirement of Ijarah under BNM Policy Document on Ijarah
  • Discussion on key points of Part C (Operational Requirements) of Ijarah Policy Document
15:30 – 16:00

Tea Break
16:00 – 17:00

Session Four: Discussion on Decided Cases on Ijarah
  • Bank Islam v Tinta Press
  • KFH v JRI Resources
  • CIMB v Tengku Kamarul Zaman
  • Bank Muamalat v Kong Sun Enterprise

Download Brochure

Where & When

Date: 18th & 19th February 2020
Venue: DoubleTree, Kuala Lumpur

Who Will Benefit?

  • Product Development Staff
  • Shariah Audit & Shariah Compliance Review Team
  • Senior company management
  • Shariah Committee and Shariah Department
  • Internal Audit
  • Risk Management
  • Corporate lawyers
  • Regulatory authorities

Fee

Early bird : RM2,835
Early Bird: Registrations received on or before 18th January 2020, will receive a 10% discount. No discount shall be given to registrations received after this cut-off date.
Standard : RM3,150 per delegate
2 delegates (5% Discount) : RM2,995 per delegate
3 delegates (15% Discount) : RM2,680 per delegate
4 delegates (25% Discount) : RM2,365 per delegate
5 delegates (30% Discount) : RM2,205 per delegate

In-house/group training

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./p>

Manual Registration

Kindly complete the registration form and email to [email protected] or fax +603 2162 7810

Register Online

Course Background

Tawarruq is the preferred choice of contract for bankers not just for working capital requirements, but also for asset financing, mortgages, trade financing, fixed deposits, structured investments, and even savings account. In the last decade, Malaysia has experienced a rapid growth in Tawarruq based products for this reason. Hence, ensuring Shariah compliance with the policy document of Bank Negara is of paramount importance for all Islamic financial institutions (IFIs). Even though Sukuk Ijarah has been popularly applied by government and private sectors in ensuring the continuation of economic growth, there are still several issues which continue to be a cause for concern. By way of some policy amendments by Bank Negara and legal precedents set by decided cases, this seminar will highlight some of the new and critical applications that companies need to be aware of moving forward.

This seminar offers comprehensive, concise and insightful update on the Shariah standards and operational requirements as well as legal documentation of both Tawarruq and Ijarah - based products.

Hence, we explore on how we can move beyond some of the traditional Tawarruq and Ijarah concepts by evaluating some new alternatives to improve further discussion amongst industry practitioners to drive innovation in the industry.

COURSE OUTCOMES

  • Understanding the key roles and applications of Tawarruq and Ijarah in Islamic Financial Institutions (IFIs)
  • Examining the legal requirements for Tawarruq and Ijarah-based products
  • Assessing the key Shariah and operational requirements for Tawarruq and Ijarah based on policies set by Bank Negara Malaysia (BNM)
  • Gaining insights from the most recent legal cases on Tawarruq and Ijarah
  • Knowing the requirements for the arrangements with other contracts/concepts in Tawarruq and Ijarah-based products
  • Dealing with Shariah non-compliance incidents
  • Identifying new requirements for Waad and Wakalah policies

Seminar Agenda

  • Day One
  • Day Two

Day One

08:30 – 09:00

Registration and Coffee
09:00 – 10:00

Guest Speaker Presentation:
  • The Operationalization of Tawarruq by Islamic Banks in Malaysia – A Mockery or Reality?

Hj. Abdul Rahman Mohd. Yusoff (CPIF, MIM-CPT ), Head - Islamic Product & Business Development, OCBC Al-Amin Bank Berhad

10:00 – 10:30

Tea Break
10:30 – 11:45

Session One : The Role of Tawarruq in IFIs
  • Introduction
  • Understanding the significance of Bank Negara Malaysia (BNM) policies and documents
  • Brief Introduction to Tawarruq & Ijarah
    • Overview of Tawarruq Concept
    • Application of Tawarruq & Ijarah in IFIs
11:45 – 12:45

Session Two: Studying the Policy Document on Tawarruq
  • Conducting a discussion on key points of Part B (Shariah Requirements & Optional Practices) of Tawarruq Policy Document
12:45 – 14:00

Lunch
14:00 – 15:30

Session Three: Operational Requirement of Tawarruq
  • Evaluating the BNM policy document on Tawarruq
  • Shariah requirements
  • Discussing the key points of Part C (Operational Requirements) of Tawarruq Policy Document
15:30 – 16:00

Tea Break
16:00 – 17:00

Session Four: Policy Documents on Waad & Wakalah
  • Discussion on key points of Waad policy document
  • Discussion on key points of Wakalah policy document

Day Two

08:30 – 09:00

Registration and Coffee
09:00 – 10:30

Session One: Discussion on Decided Cases on Tawarruq
  • KFH v AC Property Development
  • KFH v Teknogaya Diversified
  • KFH v Vesta Energy
10:30 – 11:00

Tea Break
11:00 – 12:30

Session Two: Policy Document on Ijarah
  • Discussion on key points of Part B (Shariah Requirements & Optional Practices) of Ijarah Policy Document
12:30 – 14:00

Lunch
14:00 – 15:30

Session Three: Operational Requirement of Ijarah under BNM Policy Document on Ijarah
  • Discussion on key points of Part C (Operational Requirements) of Ijarah Policy Document
15:30 – 16:00

Tea Break
16:00 – 17:00

Session Four: Discussion on Decided Cases on Ijarah
  • Bank Islam v Tinta Press
  • KFH v JRI Resources
  • CIMB v Tengku Kamarul Zaman
  • Bank Muamalat v Kong Sun Enterprise

Seminar Speaker


Dr. 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) Johan is the managing partner of J. Lee & Associates, a medium-size award-winning legal firm in Malaysia. The firm is now a member of Primerus law, an international legal chambers group consisting of finest law firms worldwide. Primerus law is one of the top three biggest legal firm groups in the world.

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, an MA in Economics for Competition Law from King’s Collage London and a Ph.D in Business and Commercial Law from Monash University Australia. 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, the Shairah Court and the Supreme Court of Brunei.

He lectures part-time in a few local law schools (namely IIUM for the LLM, Unisza and UM for the LLB programmes) and in the IiBF of IIUM for the MSc.in Islamic Banking programme. He also occasionally conducts in-house trainings to various Islamic banking institutions worldwide, governmental and semi-governmental institutions. He has lectured and provided training in the Institute Latihan Kehakiman (ILKAP) as well as Jabatan Kehakiman Syariah Malaysia (JKSM) for both civil courts and Shariah courts judges concerning Islamic banking. He has also trained the officers from BNM, and all local banks and few other central banks throughout the world on 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 few governmental agencies as well as few government-funded banks. Besides, he was a member of the Board of Studies of the Institute of Islamic Banking and Finance, International Islamic University Malaysia for the 2010-2012 tenure. He was also a member of the Board of Studies of the Faculty of Law of University Malaya for the 2015-2017 tenure. He was in the syllabus endorsement committee in for the INCEIF, and the CIMA. He is recently accredited as a senior trainer of the IBFIM and a trainer of the Associations of Shariah Advisors (ASAS), Malaysian Institute of Accountants (MIA) and the Institute of Internal Auditors Malaysia (IIA). He was the committee of the law reform committee established by the Attorney General office. He has recently been awarded the prestigious award of Islamic Finance Expert by LEGALS FINEST International.

He has authored few text books and reference books and written few articles on Islamic banking published globally notably:

  1. Legal Documentation for Islamic Banking, IBFIM, Kuala Lumpur, 2014,
  2. IFSA 2013: Commentaries on Islamic Banking and Finance, CLJ Publication, Kuala Lumpur, 2015,
  3. Islamic Finance: Recovery, Rescheduling, and Restructuring of Islamic Banking Facilities, LexisNexis, Kuala Lumpur, 2016,
  4. Islamic Finance: Shariah Theories, Principles, Practice, and Legal Documentation in Malaysia, Lexis Nexis, Kuala Lumpur, 2017,
  5. IFSA 2013 and FSA 2013: New Regulation Regime in Malaysia for Islamic Finance, in, Adnan Trakic (eds), Islamic Banking and Finance, CLJ Publication, 2nd ed, Kuala Lumpur, 2015,
  6. Muamalat, in, Ballini Pathmanathan (ed) Bullen & Leaks & Jacob’s Malaysian Precedents of Pleading, Thomson Reuters, August, 2017,
  7. Muamalat (a full volume), in, Malaysian Precedents & Forms, Lexis Nexis, Kuala Lumpur (2018),
  8. Annotated Statute: Financial Services Act 2013, Lexis Nexis, Kuala Lumpur (upcoming),
  9. Annotated Statute: Islamic Financial Services Act 2013, Lexis Nexis, Kuala Lumpur (upcoming),
  10. Atkin’s Court Forms Malaysia: Islamic Banking, Lexis Nexis, Kuala Lumpur (Upcoming),
  11. Islamic Trade Finance, IBFIM, Kuala Lumpur (Upcoming),
  12. Islamic Finance: Recovery, Rescheduling, and Restructuring of Islamic Banking Facilities, LexisNexis, Kuala Lumpur, (2nd ed) 2019,

He is now a member of the Shariah Advisory Council (SAC) of the Association of Islamic Banks Malaysia (AIBIM). Also, he is a consultant to few law firms and practices in Malaysia, Brunei, Singapore, Indonesia and the UK. He has drafted and developed numerous Islamic banking legal documents and products in Malaysia and overseas. He is a director of the IIUM Shariah Advisory Services Sdn. Bhd.

Guest Speaker


Hj. Abdul Rahman Mohd. Yusoff (CPIF, MIM-CPT ) 
Head, Islamic Product & Business Development, OCBC Al-Amin Bank Berhad

Hj. Abdul Rahman Mohd. Yusoff has been with OCBC Al-Amin Bank Berhad since its inception in 2008. Prior to his present position, he had served the Business Banking and also as Head of the Shariah Department from 2013 to March 2019. Reporting direct to the CEO, his current job functions encompass the Islamic products, business development and learning development of the bank and the OCBC group.

He began his career in the banking industry in 1981 as a Credit Officer at CIMB Bank (formerly known as Bumiputra-Commerce Bank Berhad). During his 22 years there, his banking exposure extends from retail, commercial to international banking as Assistant General Manager, Hong Kong branch from 1997 to 2001. After leaving CIMB in 2005 and prior to joining OCBC Al-Amin, Hj. Abdul Rahman also worked at two other Financial Institutions at management level namely Bank Islam Malaysia Berhad and Cagamas Berhad.

Hj. Abdul Rahman is active in the Islamic Finance industry and is often invited as a guest speaker at seminars and trainings. He is also a part-time lecturer at INCEIF for the Master Islamic Finance Practices (MIFP) program. He is currently the Deputy President & Grand Councillor of CIIF (Chartered Institute of Islamic Finance Professional). Hj. Abdul Rahman is a graduate in MSc. Islamic Finance and Chartered Islamic Finance Professional (CIFP) from INCEIF and also having an MBA and BSc. in Finance from USA.

Seminar Registration

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

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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