Bank Negara Malaysia recently released and continues to release detailed Shariah guidelines, requirements and optional practices and arrangements for various Islamic financial contracts, products and features. Following on from this, banks and financial institutions will be required to submit actions plans based around these requirements and practices. As such, a great deal of important information gathering and analysis will have to take place in a relatively short period of time.
REDmoney Seminars is pleased to offer an insightful, concise and incisive update on the Shariah standards and requirements, optional practices and arrangements for Ijarah, Istisnah and Waad. Industry experts will cover the most important elements of each, and will identify key areas for attention and action.
KEY LEARNING OUTCOMES
Identify and evaluate recent regulatory and Shariah requirements and arrangements for Ijarah-based structures and products, including Ijarah combinations with other contracts
Highlight and discuss key Shariah requirements and practices of Ijarah muntahiyah bi tamlik
Assess and evaluate recent Shariah requirements and optional practices for Istisnah-based structures and products
Understand the potential convertibility of Istisnah into Tawarruq based structures
Examine and evaluate recent Shariah requirements and arrangements for Waad based structures and products
Ensure Shariah compliance throughout product development and facilitation for Ijarah, Istisnah and Waad and various combinations
Agenda
9:00 – 10:45
Shariah Requirements, Optional Practices and Arrangement for Ijarah
Identifying and evaluating recent Shariah requirements for Ijarah-based structures and products
Analysing the management of Ijarah-based contracts: use of assets, usufruct
Discussing the arrangement of Ijarah and identifying Shariah issues: Ijarah with sales, forward, sub-lease and lease-back structures
Assessing the incorporation and combination of Ijarah with other contracts, such as Waad, and discussing key Shariah and structuring issues
Evaluating Shariah issues associated with dissolution and completion of Ijarah
Mohd. Johan Lee — Managing Partner, J. Lee & Associates
10:45 – 11:15
Coffee
11:15 – 12:45
Shariah Requirements, Optional Practices and Arrangement for Ijarah (continued)
Analysing the management and arrangement of Ijarah muntahiyah bi tamlik
Highlighting and discussing key Shariah requirements and practices of Ijarah muntahiyah bi tamlik
Mohd Johan Lee — Managing Partner, J Lee & Associates
12:45 – 14:00
Luncheon
14:00 – 15:30
Shariah Requirements, Optional Practices and Arrangement for Istisnah
Identifying opportunities for banks to incorporate Istisnah and assessing its convertibility into Tawarruq structures
Examining and evaluating recent Shariah requirements for Istisnah
Discussing the arrangement of Istisnah and identifying key Shariah issues
Assessing the incorporation of Istisnah with other contracts
Evaluating Shariah issues associated with dissolution and completion of Istisnah
Ensuring Shariah compliance throughout product development and facilitation
Associate Professor Dr Hakimah Yaacob — Senior Assistant Professor, Sultan Sharif Ali Islamic University (UNISSA) Brunei Darussalam
15:50 – 16:00
Coffee
16:00 – 17:00
Shariah Requirements, Optional Practices and Arrangement for Waad
Identifying opportunities for banks to incorporate Waad structures and features
Examining and evaluating recent Shariah requirements for Waad
Discussing the arrangement of Waad and identifying key Shariah issues
Assessing the incorporation of Waad with other contracts
Evaluating Shariah issues associated with dissolution and completion of Waad
Ensuring Shariah compliance throughout product development and facilitation
Associate Professor Dr Hakimah Yaacob — Senior Assistant Professor, Sultan Sharif Ali Islamic University (UNISSA) Brunei Darussalam
