Shariah Risk Profiling for Islamic Finance Products

Shariah Risk Profiling for Islamic Finance Products
Tools and Methodologies
A Two-Part, Online Course

Date: 24^th & 25^th November 2021

WHY THIS COURSE?

Shariah non-compliance (SNC) risk is a vital component of operational risk for Islamic financial institutions. In addition, Central Banks are increasing the requirement for Islamic financial institutions to evaluate and analyze SNC risk systematically. For example, in its Stress Testing Policy Document, Bank Negara Malaysia requires that Islamic financial institutions ensure their stress testing programs appropriately consider key scenarios and assumptions that are unique to Shariah contract and Shariah non-compliance. 

Shariah Risk Profiling is an important tool, helping financial institutions identify Shariah Non-Compliance risks which will then be used for scenario analysis and stress testing within the institution. Although Shariah Risk Profiling has its origin in risk management, the exercise provides multiple functions across the financial institution with an understanding of sources of Shariah risks and, more importantly, their impact on the institution’s operations.

Key Takeaways and Learning Objectives
- To provide a clear understanding of the objectives and mechanisms of Shariah risk profiling for Islamic finance contracts and products
- To establish comprehensive tools and methodologies for Shariah risk profiling: the Shariah matrix, the template, validity of the assessment, process of validation and more
- To provide a robust, hands-on guide and end-to-end profiling mechanism for specific Islamic products and business activities

Fee

1 participant: RM1,450/$375
2 participants: RM2,900/$750
3 participants: RM4,350/$1,125
4 participants: RM5,800/$1,500
5 participants: RM7,250/$1,875

Early Payment Discount: Payments made on or before 17^th November 2021 will receive a 7.5% discount. Payments received after this date will be re-invoiced for the full amount.

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

For enquiries please contact:

Mathias Sosovele
Account Manager, REDmoney Seminars
[email protected]
Direct Line: +603 2162 7800 ext 25

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

Yuggeswary Sundranathan
Events & Publishing Marketing Manager
[email protected]
Direct Line: +603 2162 7800 ext 22

WHY THIS COURSE?

Key Takeaways and Learning Objectives
- To provide a clear understanding of the objectives and mechanisms of Shariah risk profiling for Islamic finance contracts and products
- To establish comprehensive tools and methodologies for Shariah risk profiling: the Shariah matrix, the template, validity of the assessment, process of validation and more
- To provide a robust, hands-on guide and end-to-end profiling mechanism for specific Islamic products and business activities

WHO WILL BENEFIT?

Shariah Risk Professionals
Shariah Compliance, Audit and Review Professionals
Shariah Advisory Committee and Research Officers
Compliance and In-House Counsel
Risk and Internal Audit Managers
Product Development Professionals
Operations Managers
Consultants and Advisors
Islamic Bankers and Managers
Regulators and supervisory bodies

Program Format

This two-part training program will be delivered online through a stable, secure and free-to-access platform. The program itself will be delivered through lectures, worked examples and case studies in order to ensure a detailed and practical understanding of the program content. Participants will have plenty of opportunity to ask questions and interact with the program director. Login details and program materials will be sent to participants upon receipt of payment

Fee

1 participant: RM1,450/$375
2 participants: RM2,900/$750
3 participants: RM4,350/$1,125
4 participants: RM5,800/$1,500
5 participants: RM7,250/$1,875

Early Payment Discount: Payments made on or before 17^th November 2021 will receive a 7.5% discount. Payments received after this date will be re-invoiced for the full amount.

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

AGENDA AND FORMAT

Each session will be interactive in a seminar format, with participants encouraged to engage with questions throughout.

PLATFORM

AGENDA

Part One: 24^th November

Session 1: Overview Shariah Risk Profiling (30 minutes)

What is Shariah Risk Profiling and why is it so important?
Who is responsible for developing Shariah Risk Profiling?
Shariah Risk Profiling vs Risk and Control Self-Assessment (RCSA) methodology
Shariah Risk Profiling and Stress Testing

Session 2: Tools and Methodology for Shariah Risk Profiling (2.5 hours)

Identification of the risk universe
Developing assessment criteria
Impact assessment and definition
The Risk Ranking Matrix
The Shariah Matrix
Template
Validity of assessment
Validation process
Risk response plan

Part Two: 25^th November

Session 3: Case Studies - Shariah Risk Profiling Exercises (3 hours)
In this highly practical section, individual product areas and business activities will be profiled for Shariah risk, with the findings summarized by the course directors and discussed by the group.

Case 1: Business financing based on Tawarruq
Case 2: Term deposit based on Tawarruq
Case 3: Commodity Trading platform
Case 4: Credit card
Case 5: Hire purchase
Case 5: Islamic recovery process

Q & A and Conclusion

EXPERT COURSE DIRECTORS

Ahmad Nazri Ismail
Chief Risk Officer, RHB Islamic

Ahmad Nazri Bin Ismail is Currently Chief Risk Officer, RHB Islamic Bank Berhad and is also Head of Group Shariah Risk Management, RHB Banking Group, covering RHB Bank Singapore (Islamic), RHB Bank Labuan, RHB Asset Management, RHB International Islamic Asset Management, RHB Securities, RHB Investment Bank, PT RHB International Islamic Asset Management (Indonesia) and PT RHB Sekuritas (Indonesia) & RHB Trustees.

On an industry level, Ahmad Nazri has served as a participant for the BNM Value Based Intermediation (VBI) Working Committee on Efficient Energy leading to the issuance of the discussion paper on the subject matter. He is also a member of the AIBIM working group on Shariah Stress Testing. Ahmad Nazri’s other working experiences include treasury dealer at Bank Islam Berhad; treasury dealer at AmInvestment Bank Berhad; senior executive at Securities Commission Malaysia. Ahmad Nazri has significant technical and practical experience of Islamic finance, treasury products), risk management, and capital market regulations

Shabnam Mokhtar
Group Executive Vice President, SHAPE Knowledge Services

Shabnam spearheads research and development activities including financial analysis, strategic & business plan formulation, design and implementation of customized survey, research and training for different clients at SHAPE®. Formerly, she was heading the capital markets research for the International Shariah Research Academy (ISRA), an institution established by the Central Bank of Malaysia. Her focus area was case study-based research projects in the Sukuk market.

Her prior positions include a faculty member teaching accounting, finance and bank management courses at University Putra Malaysia. She has conducted various training programs on Islamic banking, Sukuk & Islamic capital market products, risk management and financial reporting for clients in the ASEAN region, GCC and the European market.

Shabnam has contributed chapters in Housing the Nation (Cagamas 2013), Managing Fund Flows, Risks and Derivatives: Applications in Islamic Institutions (Sweet & Maxwell 2012), Islamic Financial System: Principles & Operations Market (ISRA, 2011 and 2015), Sukuk (Sweet & Maxwell 2009), and Partnership Accounting, Principles and Practice (McGraw Hill). She served as a member of the Shariah Board of Malaysian Ratings Corporation (MARC). She is currently a member of the Shariah Committee of RHB Islamic Bank. Shabnam divides her time between Kuala Lumpur and Kuwait.

WHO WILL BENEFIT?

Shariah Risk Professionals
Shariah Compliance, Audit and Review Professionals
Shariah Advisory Committee and Research Officers
Compliance and In-House Counsel
Risk and Internal Audit Managers
Product Development Professionals
Operations Managers
Consultants and Advisors
Islamic Bankers and Managers
Regulators and supervisory bodies

REGISTRATION

*Please note there is a fee for attending this program. Please contact us for more details.

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Before completing this registration form please read and understand our booking and cancellation policy. Thank you.

Presentation materials: – important, please read carefully

as part of our sustainability drive, we offer standard access to an electronic version of the course materials. A hard copy of the materials can be provided for a fee: RM100 per copy for Malaysia-based participants; US$150 per copy for all other locations.

Please tick here should you wish to receive a hard copy of the course materials.

Booking, Payment and Cancellation Policy – important, please read carefully

By completing, signing and revised, sent separately us this registration form you are conﬁrming participants on the program. You are also conﬁrming your understanding of our Booking, Payment and Cancellation Policy.

Cancellation Policy: If participants cannot attend the program, replacement participants are always welcome. Otherwise, participants must notify us any of cancellations or requests to transfer to a diﬀerent program at least 14 days before the program date to be eligible for a refund, less a 5% administration on fee. Participants who cancel within 14 days of the program start date are liable to pay the full program fee and no refunds will be given. Instead fees will be converted to a REDmoney Seminars voucher equivalent to the original fee, less a 10% administration charge. This voucher is transferable within your organization and must be redeemed within one year of issue or become void. If a program is postponed for whatever reason registrations and fees will be automatically transferred to the new program date. Participants who wish to transfer to a diﬀerent program will be subject to the same terms as above and charged any diﬀerence in fees. No refunds or program vouchers will be issued for a no-show.
Payment Terms: All program fees are payable upon invoice. REDmoney shall receive the full program fee with no deductions of any description. All telegraphic transfer fees, taxes and levies (domestic or otherwise) shall be borne by the sponsoring organization.

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CPE/CPD Applicable:

For enquiries please contact:

Mathias Sosovele
Account Manager, REDmoney Seminars
[email protected]
Direct Line: +603 2162 7800 ext 25

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

Yuggeswary Sundranathan
Events & Publishing Marketing Manager
[email protected]
Direct Line: +603 2162 7800 ext 22

WHY THIS COURSE?

Fee

In-house/group training

WHY THIS COURSE?

WHO WILL BENEFIT?

Program Format

Fee

In-house/group training

AGENDA AND FORMAT

PLATFORM

AGENDA

Part One: 24th November

Part Two: 25th November

EXPERT COURSE DIRECTORS

WHO WILL BENEFIT?

REGISTRATION

Approving Manager

Verification

Part One: 24^th November

Part Two: 25^th November