REDmoney Events
  • Home
  • Past Forums
  • Past Seminars
  • Contact us
  • About Us
seminar logo

Shariah Audit for Corporate, Hedging and Financial Market Products
Tools and Methodologies
A Three-Part, Online Course

Date:  25th - 27th July 2022

WHY THIS COURSE?

Ensuring Shariah rules and principles are adhered to is one of the ultimate responsibilities of Islamic financial institutions (IFIs). IFIs carry out this responsibility through establishing Shariah review and audit functions within their institutions. The role of the Shariah compliance audit provides independent assessment and objective assurance designed to value-add and improve the level of confidence of the IFI’s compliance with Shariah. It includes examination of contracts and agreements, policies, products and transactions, reporting to Shariah boards, as well as circular and reports for inspections performed by central banks. Specific knowledge and skills are required for professionals to carry out this responsibility in the most efficient manner, particularly when auditing complex financial instruments, such as various structures of sukuk, syndication, financial market contracts, derivatives and hedging (Tahawut) Islamic swaps and forward products, and capital raising instruments. This training program is designed to provide participants with the necessary knowledge and skills in the area of advanced Shariah auditing. Also how IFIs manage this important audit and what challenges will they need to overcome.

This course has been designed for IFIs practitioners who need to know how to conduct Shariah compliance audit for sophisticated financial contracts and instruments. The course provides instruction on how to establish and design the appropriate audit plan, manage the audit review process and its challenges, as well as auditing legacy contracts, and new contracts, legal documentation, intended and unintended consequences of financial instruments. The course is highly interactive with case studies and real-life challenges and provides delegates ample opportunity to raise questions and discuss challenges and solutions.

  • Key Highlights and Learning Objectives:
    • Gain a critical understanding of how Shariah audit of sophisticated product structures will impact your institution.
    • Learn how to formulate and implement an effective institution-wide Shariah audit plan and review across structured and money market products and auditing impacted business functions.

Fee

1 participant: RM2,250/$600
2 participants: RM4,500/$1,200
3 participants: RM6,750/$1,800
4 participants: RM9,000/$2,400
5 participants: RM11,250/$3,000

Early Payment Discount: Payments made on or before 18th July 2022 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

Register Now

Send me Details

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

seminar logo

Shariah Audit for Corporate, Hedging and Financial Market Products
Tools and Methodologies
A Three-Part, Online Course

Date:  25th - 27th July 2022

7.00am - 10.00am
UK
10.00am - 1.00pm
UAE
2.00pm - 5.00pm
Singapore/KL

Send me Details

WHY THIS COURSE?

Ensuring Shariah rules and principles are adhered to is one of the ultimate responsibilities of Islamic financial institutions (IFIs). IFIs carry out this responsibility through establishing Shariah review and audit functions within their institutions. The role of the Shariah compliance audit provides independent assessment and objective assurance designed to value-add and improve the level of confidence of the IFI’s compliance with Shariah. It includes examination of contracts and agreements, policies, products and transactions, reporting to Shariah boards, as well as circular and reports for inspections performed by central banks. Specific knowledge and skills are required for professionals to carry out this responsibility in the most efficient manner, particularly when auditing complex financial instruments, such as various structures of sukuk, syndication, financial market contracts, derivatives and hedging (Tahawut) Islamic swaps and forward products, and capital raising instruments. This training program is designed to provide participants with the necessary knowledge and skills in the area of advanced Shariah auditing. Also how IFIs manage this important audit and what challenges will they need to overcome.

This course has been designed for IFIs practitioners who need to know how to conduct Shariah compliance audit for sophisticated financial contracts and instruments. The course provides instruction on how to establish and design the appropriate audit plan, manage the audit review process and its challenges, as well as auditing legacy contracts, and new contracts, legal documentation, intended and unintended consequences of financial instruments. The course is highly interactive with case studies and real-life challenges and provides delegates ample opportunity to raise questions and discuss challenges and solutions.

  • Key Highlights and Learning Objectives:
    • Gain a critical understanding of how Shariah audit of sophisticated product structures will impact your institution.
    • Learn how to formulate and implement an effective institution-wide Shariah audit plan and review across structured and money market products and auditing impacted business functions.

WHO WILL BENEFIT?

  • Practitioners most likely to directly benefit from the course include:
    • Heads of Shariah compliance and audit
    • Shariah auditors internal/external
    • Shariah review team members
    • Chief risk officers
    • Shariah compliance officers
    • Treasurers
    • Corporate bankers
    • Legal advisors
    • In-house counsel
    • Investment bankers
    • Internal auditors
    • Central bankers, regulators and supervisors
    • Shariah advisory committee members

Program Format

This three-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: RM2,250/$600
2 participants: RM4,500/$1,200
3 participants: RM6,750/$1,800
4 participants: RM9,000/$2,400
5 participants: RM11,250/$3,000

Early Payment Discount: Payments made on or before 18th July 2022 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

Register Now

AGENDA AND FORMAT

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

PLATFORM

This three-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

Register Now

AGENDA

Course duration is nine hours divided into three hours each session.

  • Part 1
  • Part 2
  • Part 3

Part 1

Shariah Auditing Framework for Corporate Banking and Financial Markets
  • Audit sampling and selection methodology
  • How to design risk-based Shariah audit approaches?
  • Typical and non-typical transactions and contracts
  • Detection vs. retrospective identification of Shariah breaches
  • Designing audit plans to suit the IFI operating structure
  • Required reporting and disclosure of Shariah non-compliance issues
  • Quiz
  • Wrap-up and discussion

Part 2

Shariah Auditing of Structured Instruments
  • Identifying product types and Islamic structures
  • Auditing financial derivatives contracts
  • Auditing inter-bank transactions
  • Auditing banking systems and financial technologies
  • Identifying Shariah operational failures and remedies according to Fiqh principles
  • Addressing key current challenges for Shariah audit review:
    • Auditing legacy contracts following LIBOR transition
  • Quiz
  • Wrap-up and discussion

Part 3

Money Market Products and their Challenges
  • Which products are in the scope of the Shariah audit?
  • Auditing various Sukuk structures
  • Asset-backed vs. asset-based Sukuk issuance
  • Shariah Adjustment Action (SAA) method for term products in relation to contract validity
  • Shariah review of additional Tier 1 and Tier 2 capital funding instruments
  • Current challenges and case studies, conflict, tension and restructuring of contracts
  • Who is responsible and what is the way forward using the three-lines of defense methodology?
  • Quiz
  • Wrap-up and discussion

Register Now

EXPERT COURSE DIRECTOR


Dr Samir Alamad
Advisor to the UK Government and Bank of England on Islamic Finance

Dr Samir Alamad is a highly qualified practitioner and expert in the Islamic banking and finance industry, and a published author. He has over 15 years’ work experience in Islamic financial services in the UK, and a track record of Islamic finance expertise in developing, structuring and launching Shariah compliant financial products of all types. As an academic, he also possesses a scholarly knowledge of Shariah advisory and audit, financial product development, and strong specialty in Islamic economics and jurisprudence, Islamic commercial law, and an in-depth experience and understanding of all areas of Shariah governance, audit and financial services.

Dr Samir gained his PhD in financial engineering from Aston University Business School and has 20 years’ work experience. He is an AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions) Certified Shariah Advisor and Auditor (CSAA) with an excellent knowledge of all operational areas of the financial services sector. He has advised and worked extensively with the UK Government on financial and social inclusion, in relation to advancing Islamic finance in the UK. Dr Samir served as a board member of the UK Government Help to Buy Mortgage Guarantee senior monitoring board; worked with the HM Treasury as a member of the Help to Buy ISA working group of experts to develop the scheme and its rules; structured for the UK Government the Takaful Alternative Student Finance scheme (TASF); and advised the Bank of England on the structure of the Wakalah-based Shariah compliant central bank liquidity facility. This is in addition to many other Islamic finance initiatives that Dr Samir delivered for and with the UK Government.

Dr Samir has a significant publication portfolio, including papers in three-star academic journals, such as the British Accounting Review. He is also a visiting lecturer at the University of Birmingham in the UK, also advised academic institutions, such as Plymouth and GSM universities on structuring MBA courses and academic modules for different academic programs. He is a regular speaker at international conferences, has delivered numerous lectures and taken part in many Islamic finance TV and radio shows.

WHO WILL BENEFIT?

  • Practitioners most likely to directly benefit from the course include:
    • Heads of Shariah compliance and audit
    • Shariah auditors internal/external
    • Shariah review team members
    • Chief risk officers
    • Shariah compliance officers
    • Treasurers
    • Corporate bankers
    • Legal advisors
    • In-house counsel
    • Investment bankers
    • Internal auditors
    • Central bankers, regulators and supervisors
    • Shariah advisory committee members

REGISTRATION

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

Approving Manager

Verification

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.

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.
CAPTCHA image

This helps us prevent spam, thank you.

CPE/CPD Applicable:

CPD Points

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

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]

Our Publications

  • Islamic Finance news
  • IFN Halal Finance
  • UK Islamic Finance
  • IFN Fintech

Recent Tweets

  • FN Weekly Round-up: 18th – 24th June 2022 Read more... https://t.co/u0nShSpJwT #fintech #finance #opportunities #china #pakistan #banks15 hours ago
  • Islamic finance industry can expect new standards on syndication and liquidity management Read more...… https://t.co/vEXjkFRJyg2 days ago

Instagram Photos

The latest invesment opportunity on our IFN Fintec The latest invesment opportunity on our IFN Fintech MatchMaking platform. We connect investors with promising Islamic fintech startups. 

Register to receive the pitch deck: https://bit.ly/3OlOxay

#islamicfintech #islamicfinance
IFN Asia Region forums happening in Sept and Octob IFN Asia Region forums happening in Sept and October 2022. 

IFN Asia Forum 2022. 27th September 2022. 

IFN Green & Sustainable Finance 2022.  28th September 2022. 

IFN Indonesia Forum 2022. 3rd October 2022. 

Register at link in profile

#ifnislamicnews #ifnevents #asiaforums
Attend the most sought after IFN Forums in May 202 Attend the most sought after IFN Forums in May 2022. 

IFN Thought Leadership Dialogue, Dubai. 26th May 2022. 

IFN KSA Dialogue, Riyadh. 30th May 2022

Complimentary entry. Register link in profile.  See you there.  #islamicnews #forums #islamicfinanceforums
IFN Weekly Market Round-up: 4th – 10th September IFN Weekly Market Round-up: 4th – 10th September 2021.  Read more or subcribe to our News.  Link in bio.  #ifnnews #islamicfinancenews
@shjislamicbank has launched corporate digital ba @shjislamicbank  has launched corporate digital banking services to better service SMEs.

#digitalbanking #innovation #uae

Find out more at ifnfintech.com
UAE-based Sheesha Finance has invested an undisclo UAE-based Sheesha Finance has invested an undisclosed amount into Shariah compliant Marhaba Decentralized Financial Platform (MRHB DeFi). This comes less than a week after the Australia-based MRHB DeFi signed a partnership with India’s Coinsbit ( @coinsbitindia )

#islamicfintech #islamicfinance
  • Home
  • Past Forums
  • Past Seminars
  • Contact us
  • About Us