Islamic finance in Asia: Sustainability, Innovation and Performance

IN SUPPORT OF

Date: 25^th & 26^th May 2015 Venue: Kuala Lumpur Convention Centre

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Advisory Board
- Andri Aidham Badri - Partner, Kadir Andri & Partners
  
  Angelia Chin-Sharpe - Chief Executive Officer, BNP Paribas Investment Partners Malaysia
  
  Azim Mithani - Chief Executive Officer, Prudential BSN Takaful
  
  Chung Chee Leong - President/Chief Executive Officer, Cagamas
  
  Davide Barzilai - Partner, Norton Rose Fulbright, Hong Kong
  
  Etsuaki Yoshida - Director & Senior Economist, The Japan Bank for International Cooperation
  
  Foo Su Yin - Chief Executive Officer, RAM Ratings
  
  Harish Parameswar - Head of Investment Banking, The Islamic Bank of Asia Limited
  
  Harith Harun - Managing Director & CEO, Maldives Islamic Bank Pvt Ltd
  
  Nor Rejina Rahim - Country Head - Malaysia, Nomura Asset Management
  
  Qudeer Latif - Partner (Global Head of Islamic Finance), Clifford Chance
  
  Raja Teh Maimunah - Managing Director and Chief Executive Officer, Hong Leong Islamic Bank
  
  Ramlie Kamsari - Chief Executive Officer, CIMB Principal Islamic Asset Management
  
  Saiful Bahari Baharom - Chief Executive Officer, Labuan IBFC
  
  Yavar Moini - Director of Islamic Banking, State Bank of Pakistan
  
  Zukri Samat - Managing Director, Bank Islam
Agenda
Speakers
Sponsors & Partners
Floor Plan
Accommodation
Post Event Report

2015 marks the 10^th year of REDmoney’s flagship event – the IFN Asia Forum. Known throughout the industry as the premier Islamic finance event in the region the forum consistently brings together the most influential market players and provides a platform to discuss the very latest issues affecting Islamic finance in the region.

As major Asian economies begin to seriously assess the prospects of Islamic capital raising the IFN Asia Forum will continue to deliver on its promise: to provide delegates with prospects, opportunities and current trends in mature and new Islamic finance markets in Asia.

The event will draw participation from speakers and delegates from Malaysia, Indonesia, Hong Kong, Japan Pakistan, Brunei, the Philippines, the Maldives and Sri Lanka amongst others.

Keynote Address by:

Alan Yarrow
The Rt. Hon. the Lord Mayor of London

Dato Dr Nik Ramlah Mahmood
Deputy Chief Executive, Securities Commission Malaysia

Professor Datuk Dr Rifaat Ahmed Abdel Karim
Chief Executive Officer
International Islamic Liquidity Management Corporation

Presentations & Speeches

Agenda

ISSUERS DAY
INVESTORS DAY

Day 1

09:00 - 09:05

Quran Recitation

09:05 - 09:25

Opening Keynote Address
Professor Datuk Dr Rifaat Ahmed Abdel Karim – Chief Executive Officer, International Islamic Liquidity Management Corporation

09:25 - 09:35

Chairperson’s Opening Remarks
Abdulkader Thomas – Chief Executive Officer, SHAPE Financial

09:35 - 10:35

Opening Panel Session: Islamic Finance in Asia: A Gameplan for the Year Ahead
The region’s leading players share their views on what the strategy will be for the advancement of Islamic finance in Asia in the year ahead. As Asian markets begin to tackle the effect of a new economic environment, what impact will oil prices, global currency exchange and other economic factors have on how business is done here in Asia?

Which markets are likely to lead and which sectors will flourish?
What trends are we likely to see in investment banking and Sukuk issuances?
What will it take to attract Gulf investors?
Opportunities for cross border transactions in the coming year
Impact of new regulations on growth in Asian markets
True risk sharing: Is the industry moving towards risk sharing and equity based products?

Moderator:

Abdulkader Thomas – Chief Executive Officer, SHAPE Financial

Panelists:

Alex Armstrong – Managing Director & Head of Financial Institutions, QInvest, Qatar
Jawad Ali – Managing Partner, Middle East Offices, King & Spalding, UAE
Mohammad Kamran Wajid – Chief Executive Officer, Emirates Financial Services & Emirates NBD Capital, United Arab Emirates
Mohamad Safri Shahul Hamid – Senior Managing Director and Deputy Chief Executive Officer, CIMB Islamic
Professor Datuk Dr Rifaat Ahmed Abdel Karim – Chief Executive Officer, International Islamic Liquidity Management Corporation

10:35 - 11:15

Coffee & Networking

11:15 - 12:15

Panel Session: A Look at New Structures in Award Winning Sukuk Deals

Will covered Sukuk become a trend in the region? What challenges exist in structuring and rating of covered Sukuk?
A review of the applicability and success of recent structures: Convertible, exchangeable, perpetual and hybrid Sukuk
Will we see an increase in the use of intangible assets?
Rise of sovereign Sukuk in non-Muslim jurisdictions: What impact will this have on corporate Sukuk pipelines in these markets?
Cross-border Sukuk: Will demand for these structures lead to much needed harmonisation?
Tradability of Sukuk: Are Asian stakeholders creating and maintaining active secondary markets?

Moderator:

Khalid Howladar – Global Head, Islamic Finance, Moody´s Investor Service, UAE

Panelists:

Chung Chee Leong – President/Chief Executive Officer, Cagamas
Mohd Effendi Abdullah – Senior Vice President/Head, Islamic Markets, AmInvestment Bank
Mohd Izani Ghani – Executive Director & Chief Financial Officer, Khazanah Nasional, Malaysia
Promod Dass – Deputy Chief Executive Officer, RAM Ratings
Qudeer Latif – Partner & Global Head of Islamic Finance Practice, Clifford Chance, UAE

12:15 - 13:00

Panel Session: Prospects for Green and SRI Sukuk and Corporate Waqf in Asia

Are there opportunities for green Sukuk and SRI Sukuk?
Will there be a shift towards the use of renewable energy, environmental assets and other intangible assets in Asian Sukuk and bond transactions?
What guidelines and regulations are currently in place to drive this?
Emergence of CSR Sukuk by way of Waqf
Capital mobilization: How will Islamic finance facilitate the mobilization of Waqf funds?

Moderator:	Salman Ahmed – Partner, Head of Islamic Finance MENA, Trowers & Hamlins
Panelists:	Edward Gustely – Managing Director, Penida Capital Advisors, Indonesia Madzlan Mohamad Hussain – Partner, ZICOlaw Nik Norishky Thani – Senior Vice President & Head for Special Projects (Islamic), Group Chief Executive’s Office, Permodalan Nasional Berhad (PNB) Dr Shamsiah Abdul Karim – Waqf Scholar

13:00 - 13:10

Luncheon Address
Eqhwan Mokhzanee Muhammad – Chief Executive Officer, AmBank Islamic

13:10 - 14:25

Luncheon

14:25 - 15:15

Promoting Sustainable Growth in New Markets
As new markets make strides in solidifying their position in the global Islamic capital market, the strengths of each individual market and the ability to effectively carry out cross border Islamic finance activities must be enhanced. What can we expect in terms of new asset classes, sector-specific development and trends? How will the emergence of these markets create linkages with mature Islamic finance destinations? This roundtable will explore the prospects and challenges that lie ahead in some of the world’s most promising Islamic financial markets.
This session will cover development in Bangladesh, Hong Kong, Indonesia, Iran, Japan, Sri Lanka, Singapore, Oman, Pakistan and the Philippines

Moderator:

Ahmed A. Khalid – Regional Head (Asia), Islamic Corporation for the Development of the Private Sector, IDB Group

Panelists:

Gregory Man – Partner, Norton Rose Fulbright
Harish Parameswar – Managing Director & Head of Investment Banking, The Islamic Bank of Asia, Singapore
Kemal Rizadi Arbi – Advisor, Capital Market Authority, Sultanate of Oman
Naoki Nishida – President & Chief Executive Officer, Bank of Tokyo-Mitsubishi UFJ, Malaysia
Norfadelizan Abdul Rahman – President Director, Maybank Syariah Indonesia

15:15 - 15:30

Presentation: The Boom & Bust Cycle and Islamic Finance
Tariq Al-Rifai – Author of Islamic Finance and the New Financial System, Kuwait

15:30 - 15:50

Coffee & Networking

15:50 - 16:50

Corporate Funding Strategies in the Current Economic Environment
An in-depth review of how Asian corporates are raising funds in light of rising interest rates and falling oil prices

How will recent economic events change corporate strategy on capital raising?
What is the appeal of increasingly popular structures such as perpetual, covered and convertible Sukuk amongst corporate issuers?
What can Shariah indices offer issuers in terms of widening the investor base and what needs to be done to warrant inclusion in Shariah indices?
What new trends are likely to develop in Shariah compliant capital raising?
Widening investor appeal of corporate Sukuk from a ratings perspective

Moderator:

Abdulkader Thomas – Chief Executive Officer, SHAPE Financial

Panelists:

Ahmad Najib Nazlan – Chief Investment Officer, Amundi Malaysia
Irwan Abdalloh – Head of Islamic Capital Market Development, Indonesia Stock Exchange
Jamaluddin Nor Mohamad – Director of Islamic and Alternative Markets, Bursa Malaysia
Ken Aboud – Partner, Allen & Overy, Singapore
Michele Leung – Director of Fixed Income Indices, S&P Dow Jones Indices, Hong Kong
Ritesh Maheshwari – Managing Director, Standard & Poor’s

16:50 - 17:00

Chairperson’s Closing Remarks

Day 2

09:00 - 09:10

Chairperson’s Opening Remarks
Abdulkader Thomas – Chief Executive Officer, SHAPE Financial

09:10 - 09:25

Keynote Address: Facilitating Innovations in the Islamic Capital Markets
Dato Dr. Nik Ramlah Mahmood – Deputy Chief Executive, Securities Commission Malaysia

09:25 - 09:40

Launch of Islamic Capital Markets: Principles & Practices by International Shari’ah Research Academy for Islamic Finance & Securities Commission Malaysia

09:40 - 10:30

Trends in Islamic Asset Management and Asset Allocation Strategies

Long and short-terms asset allocation strategies for Islamic investors
Catering to the rise and prominence of HNWI and family offices in Asia
Fixed income investments: Outlook for investing in Asian Sukuk funds
Investment in commodities in light of recent economic events: What trends are developing and what risks should investors be aware of?
How are equity & PE funds, fixed income funds and VC funds shaping the Islamic investor’s portfolio: Will we see a change in current trends?

Moderator:	Shireen Muhiudeen – Founder, Managing Director & Principal Fund Manager, Corston-Smith Asset Management
Panelists:	Hanifah Hashim – Executive Director & Head of Malaysia Fixed Income & Sukuk, Franklin Templeton Investments, Malaysia Dr Hasnita Hashim – Chief Executive Officer, Guidance Investments Maznah Mahbob – Chief Executive Officer, AmInvest Roslina Abdul Rahman – Managing Director, Amundi Malaysia

10:30 - 11:00

Coffee and Networking

11:00 - 11:15

Keynote Address: Shariah Compliant Investment Opportunities in the United Kingdom
Alan Yarrow – The Rt. Hon. the Lord Mayor of The City of London

11:30 - 13:00

BREAKOUT SESSION

Labuan IBFC’s International Waqf Foundation - The First Islamic Foundation Aimed at the International Market

The advantages of incorporating a Waqf using internationally recognized Foundation laws
The benefits of legal certainty
How to achieve greater flexibility and control
LIBFC is the first international business and financial centre to establish a Waqf using common and civil law foundation and trust acts
The advantages of being regulated by an authority that is well-versed in both Shariah and international law

Panelists:

Dr Aida Othman – Labuan IBFC Specialist, Partner at Zaid Ibrahim & Co and Director at ZICOlaw Shariah Advisory Services
Che Jamaliah Abdul Thahir – Head of Islamic Finance Unit, Labuan Financial Services Authority

11:15 - 11:45

Roundtable: Developing a New Generation of Islamic Bankers

Developing a skilled workforce to support the rapid development of Islamic finance in the region
How do current industry professional standards support the new generation of bankers and what needs to change?
What role do professional bodies play in developing the Islamic finance industry? Will professional qualification become mandatory for Islamic bankers?

Moderator:	Nicholas Edmondes – Partner, Trowers & Hamlins, Malaysia
Panelists:	Alan Yarrow – The Rt. Hon. the Lord Mayor of The City of London Dr Amat Taap – Chief Executive Officer, Finance Accreditation Agency Mohammad Faiz Azmi – Executive Chairman, PricewaterhouseCoopers, Malaysia

11:45 – 12.00

Presentation: Evaluating the Potential of Asia to a Global Financial Services Provider
Kevan Watts – Vice Chairman of Global Banking, HSBC, United Kingdom & Chairman – UK-ASEAN Business Council

12:00 - 12:15

Presentation: Outlook for Shariah-Compliant Private Equity Investments in Asia
Arshad Ahmed – Managing Director, Elixir Capital, USA

12:15 - 12:45

Crowdfunding: A Perfect Fit?
Crowdfunding is big news in both the Islamic and conventional markets, with a groundswell of interest that has seen legislation introduced in the US, UK and several other jurisdictions as nations legitimize what is promoted as one of the few truly egalitarian and accessible forms of entrepreneurial start-up funding. The story has already swung into gear on the conventional side with a plethora of successful case studies – and with principles that perfectly match the platform of Shariah compliant SME support, is it a trend tilting on the edge of enormity for the Islamic world as well?

Moderator:	*Lauren McAughtry* – Managing Editor, Islamic Finance news
Panelists:	Leo Shimada – Chief Executive Officer, Crowdonomic Sam Shafie – Co-founder, pitchIN

12:45 - 13:45

Luncheon

13:45 - 14:30

Private Equity, Islamic Wealth Management Products and Private Banking in Asia
In Asia alone there are now more than 4.1 million high net worth individuals (HNWI) who collectively control an estimated US$13.5 trillion in financial assets underpinning an increasing demand for private banking and wealth management products by HNWIs. How are wealth managers attracting Muslim HNWIs and family offices? And what Shariah-compliant products are likely to appeal to these investors?

Product Assessment: outlook for various investment products, including the development and uptake of Islamic ETFs in the region
Where are pension funds and other mega funds investing? A look at trends, market outlook and investment strategies
What can alternative investment, private equity and fixed income funds offer HNWIs?
What opportunities do real estate and real estate-linked products offer investors in the coming year?
Risk management and risk profiling for the Muslim HNWI – where is the sweet spot for risk tolerance and how is this priced?

Moderator:	*Lauren McAughtry* – Managing Editor, Islamic Finance news
Panelists:	Monem Salam – President, Saturna Malaysia Richard Thomas – Senior Advisor to the Board & Chief Representative, Malaysia, Gatehouse Bank Syed Abdul Aziz Syed Kechik – Chief Executive Officer, OCBC Al-Amin Bank

14:30 - 14:45

Keynote Address: Outlook for Islamic Finance in the Maldives
Dr Azeema Adam – Governor, Maldives Monetary Authority

14:45 - 15:35

Prospects for Commodity Murabahah and Islamic Treasury Products

Opportunities for further growth in Commodity Murabahah
A look at new structures in Islamic treasury and liquidity products
Impact of recent regulations affecting Islamic deposits on the Islamic banking industry

Moderator:	Abdulkader Thomas – Chief Executive Officer, SHAPE Financial
Panelists:	Ahmad Nazir Che Yen – Director, Group Islamic Banking, CIMB Islamic Azzizi Mohamad Ghazi – Managing Director, Ableace Raakin Cassim Docrat – Director, DDCAP Group, UAE Suzaizi Mohd Morshid – Senior Vice President & Head of Treasury, RHB Islamic Bank Tom Guest – Associate Director, Eiger Trading

15:35 - 16:20

Regional Islamic Cross Border Activities
For the Islamic investment industry to realize its goal of operating on a global platform, regulations, standards and a cohesive legal infrastructure are crucial. This session will address the current state of play of the Shariah compliant funds and asset management industry, impact of recent changes and what future regulations are needed to advance the industry.

Expanding the reach and scale for Islamic investments
Regulations, standards and legal infrastructure required to facilitate an efficient global Islamic investment industry
Impact of the ASEAN CIS on promoting cross border transactions
Advancing cross border Islamic investment through fund passporting

Moderator:	Abdulkader Thomas – Chief Executive Officer, SHAPE Financial
Panelists:	Aderi Adnan – Director, Business Development, Labuan IBFC Angelia Chin-Sharpe – Chief Executive Officer, BNP Paribas Investment Partners Bishr Shiblaq – Head, Dubai Representative Office, Arendt & Medernach Chairil Mohd Tamil – Chief Business Officer, EXIM Bank Malaysia Gerald Ambrose – Chief Executive Officer, Aberdeen Islamic Asset Management