Islamic Financial Engineering & Product Development

Islamic Financial Engineering & Product Development
A Three-Part, Online Course

Date: 18^th - 20^th October 2022

WHY THIS COURSE?

Financial engineering and product development from an Islamic perspective go well beyond the basic tenets of conventional finance. The principles upon which Islamic financial engineering and product development are built are deeply rooted in the teachings of Shariah, and in particular, the rulings of the principles of usoul al fiqh, or Islamic jurisprudence. This is unlike the rules of conventional finance, which could be influenced by desires such as profit maximization. Islamic Financial engineering and product development theory and practice take a more holistic approach. This approach dictates that financial engineering and product development is a worldly financial activity, which should benefit all stakeholders and, when based on good intention and being developed in accordance with the Shariah and its objectives, is an act of worship.

Specific knowledge and skills are therefore required for Islamic finance and banking professionals when designing and developing financial products in accordance with Shariah, legal, tax, commercial and market requirements. Also necessary is a detailed understanding of how various stakeholders engage and manage this complex process, the role of Shariah advisers and Shariah supervisory boards (SSB) in guiding Islamic financial institutions (IFIs) through product development, and the challenges they need to overcome.

This course has been designed for practitioners and Shariah advisers at Islamic financial institutions who wish to extend their understanding of the design, development, execution and delivery of new and innovative Islamic financial products. The course is highly interactive with case studies and discussion of real-life challenges, providing delegates with ample opportunity to raise questions and discuss solutions.

Key Highlights:
- Gain a thorough understanding of how your institution can initiate, structure and engineer various financial products in accordance with Shariah and business requirements.
- Learn how to formulate and implement an effective Shariah-based methodology and framework for Islamic financial engineering and product development.

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 11^th October 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

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

Islamic Financial Engineering & Product Development
A Three-Part, Online Course

Date: 18^th - 20^th October 2022

6.00am - 9.00am
UK

10.00am - 1.00pm
UAE

2.00pm - 5.00pm
Singapore/KL

WHY THIS COURSE?

Key Highlights:
- Gain a thorough understanding of how your institution can initiate, structure and engineer various financial products in accordance with Shariah and business requirements.
- Learn how to formulate and implement an effective Shariah-based methodology and framework for Islamic financial engineering and product development.

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
- Chief finance officers
- CEOs and chief commercial officers
- Product structuring managers
- Shariah compliance officers
- Treasurers
- Corporate bankers
- Legal advisors
- In-house counsel
- Investment bankers
- Internal auditors
- Central bankers and regulators
- Shariah advisory/supervisory 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 11^th October 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

AGENDA AND FORMAT

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

PLATFORM

AGENDA

The course duration is nine hours in total, with each part being three hours in length.

Part 1: General Theory and Framework for Islamic financial Engineering and Product Development

Current methodologies in financial product development
The concept of Islamic financial engineering and product development
Shariah controls on combination of financial contracts for financial engineering
Examination and identification of financial needs for product development
Identification of Shariah solutions to meet the financial needs
Real-life examples and case studies
Quiz

Part 2: Shariah assessment, evaluation and modelling of Financial Product Development

Evaluation and selection of the Shariah solutions
Modeling the product structure and its implementation procedures
Shariah review and approval process of the product structure
Shariah reasoning for considering the purpose of the product structure
Real-life examples and case studies
Quiz

Part 3: Mechanisms of Achieving Maqasid Al-Shariah and Commercial Objectives in Financial Product Development

Mechanisms of achieving Maqasid Al Shariah
Islamic finance contracts and the consequences of its implementation for financial engineering
The concept of jurisprudence theories and its implementation in the product development process
The push and pull factors in the financial engineering and product development approach
Examining key, most nominated Islamic finance principles for financial engineering.
Managing tension and competing factors in the product development process.
Real-life examples and case studies
Quiz

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
- Chief finance officers
- CEOs and chief commercial officers
- Product structuring managers
- Shariah compliance officers
- Treasurers
- Corporate bankers
- Legal advisors
- In-house counsel
- Investment bankers
- Internal auditors
- Central bankers and regulators
- Shariah advisory/supervisory committee members

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