RECOVERY & DISPUTE RESOLUTION FOR ISLAMIC FINANCE FACILITIESSIDC CPE - accredited: 10 CPE Points
About The Seminar
The Islamic finance industry faces the same fundamental challenges and risks as that of conventional finance, including whether or not clients can fulfill their repayment obligations and when. However, recovery under Islamic finance principles is a significantly more sensitive undertaking and Islamic banks have to be very careful about how they approach the recovery process. Given the lack of precedent in such cases, effective documentation and a clear understanding of
Shariah principles and other regulations is essential.
This intensive two-day program will provide delegates with a clear understanding of the key regulatory and Shariah issues surrounding the recovery of Islamic facilities as well as crucial legal, procedural and documentation issues to consider when defaults or problems occur. Real-life case studies will be used to examine important precedents and to develop delegates’ understandings of the application of these principles.
KEY LEARNING OUTCOMES
- Understand Key Guidelines and Regulations Governing Recovery for Islamic Financing
- Gain Insight on Shariah perspectives and Issues Affecting the Recovery and Resolution Process
- Examine Legal Procedures and Issues in Default and Recovery – Where do Problems Happen?
- Understand Legal Considerations in Drafting Effective Documentation
- Assessing options for Dispute Resolution in the case of Islamic Financial Products
WHERE & WHEN
Date: 6th & 7th December 2017
Venue: InterContinental, KUALA LUMPUR
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
Anna Rozana Ramli
Marketing Director
[email protected]
Direct Line: +603 2162 7800 ext 22
Register before 6th November 2017
Standard : RM3,000 per delegate
Registration ends: 4th of December
About The Seminar
The Islamic finance industry faces the same fundamental challenges and risks as that of conventional finance, including whether or not clients can fulfill their repayment obligations and when. However, recovery under Islamic finance principles is a significantly more sensitive undertaking and Islamic banks have to be very careful about how they approach the recovery process. Given the lack of precedent in such cases, effective documentation and a clear understanding of
Shariah principles and other regulations is essential.
This intensive two-day program will provide delegates with a clear understanding of the key regulatory and Shariah issues surrounding the recovery of Islamic facilities as well as crucial legal, procedural and documentation issues to consider when defaults or problems occur. Real-life case studies will be used to examine important precedents and to develop delegates’ understandings of the application of these principles.
KEY LEARNING OUTCOMES
- Understand Key Guidelines and Regulations Governing Recovery for Islamic Financing
- Gain Insight on Shariah perspectives and Issues Affecting the Recovery and Resolution Process
- Examine Legal Procedures and Issues in Default and Recovery – Where do Problems Happen?
- Understand Legal Considerations in Drafting Effective Documentation
- Assessing options for Dispute Resolution in the case of Islamic Financial Products
Seminar Agenda
Objectives of Shariah - a Concise Review
This essential session provides a refresher of key Islamic finance and Shariah principles and how they dovetail with commerce, banking and finance.
- Classification of Shariah and its key and vital components
- Objectives of Shariah with regard to transactions and commerce
- Shariah from the commercial & banking perspectives – what you need to know
Application & Product Features of Shariah Contracts
In this session we shall examine key product structures and how they fit into the Islamic finance system. At the same time we shall be considering where crucial risks and potential problem areas may lie.
- Bai’ Bithaman Ajil and Bai’ Inah
- Murabahah
- Wakalah
- Bai’Al-Dayn
- Kafalah
- Murabahah Tawarruq
- Al Ijarah Thumma Al Bai (AITAB)
Modus Operandi via Case Study Analysis
Documentation for Business Financing Products
This session will analyze documentation issues with regard to specific business financing structures. Again, we shall be looking for potential flashpoints and where problems may occur in the case of default.
- Bai’ Bithaman Ajil and Bai’ Inah
- Murabahah
- Murabahah Tawarruq
- Al Ijarah Thumma Al Bai (AITAB)
Legal Documentation for Islamic Financing Facilities
This session will help delegates understand the legal framework governing Islamic banking, as well as the key differences between how an Islamic bank may act as compared to an Islamic bank.
- Differences between Islamic & conventional banking
- Issues & challenges faced by Islamic financial institutions
- Legal framework governing Islamic banks – what Islamic finance institutions can and cannot do
- How significant is this?
Types of Legal Documentation
What are the key documents that bankers need to be familiar with? Effective structuring and legal drafting early on can avoid significant problems in the case of default.
- Letter of offer/supplementary LO
- Primary & secondary documents
- Uses and structure of guarantees
- Charge documents
- Others (RD, option to purchase, undertaking and others)
- Sharing of security with conventional loans – how can this be done?
- Early settlement/Ibra’ issues
Common Mistakes & Issues in Legal Documentation
Rescheduling & Restructuring of Islamic Financing
Debt Recovery Procedures
Understand the tools and courses of action available to an Islamic bank and how the case of default under Islamic finance differs significantly to conventional finance. What can an Islamic bank do and what steps can practically be taken from a legal perspective?
- Objectives of recovery
- Recovery techniques & strategies – what courses of action are realistically available to an Islamic bank
- Foreclosure proceedings – know the process and avoid the pitfalls
- The situation with civil proceedings
- Statement of claim
Mediation, Arbitration and Dispute Resolution Options for Islamic Financial Products
(4.00pm-5.00pm, Guest Presentation – 60 minutes)
Course Conclusion
SEMINAR SPEAKERS
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) 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 and, an MA in Economics for Competition Law from King’s Collage London. 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. Proficient in English, Malay language, Mandarin, he is also the first Chinese origin Shariah practitioner ever admitted by the Shariah court. His current practice includes corporate and commercial law, competition law, compliance and Islamic corporate finance related matters. He is instrumental in developing Islamic banking, Takaful and Islamic corporate finance documents and exercises for several financial institutions as well as corporate and governmental entities in Malaysia. Johan lectured in the law faculty of International Islamic University Malaysia since 1999 for both undergraduate and postgraduate law programmes. He has taught for a special exclusive diploma programme in Islamic Banking, jointly offered by IIUM and the Bar Council. He also lectures occasionally in various other local universities, Bank Negara Malaysia (BNM), as well as Institute Latihan Kehakiman (ILKAP) and Jabatan Kehakiman Syariah Malaysia (JKSM) for both civil courts and Shariah courts judges concerning 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 governmental agencies as well as government-funded banks. He is the author of the book ‘Legal Documentation for Islamic Banking’ published by the IBFIM, and co-author of an upcoming book ‘Islamic Financial Services Act 2013: Commentaries’ to be published and launched by the Current Law Journal. Johan is now a member of the Shariah Advisory Council (SAC) of the Association of Islamic Banks Malaysia (AIBIM and is a consultant to new law practices in Malaysia, Brunei, Singapore, Indonesia and the UK.
Contact us
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
Anna Rozana Ramli
Marketing Director
[email protected]
Direct Line: +603 2162 7800 ext 22
