As the Islamic banking industry continues to develop and mature, the occurrence of defaults and the need for rescheduling and refinancing become inevitable. Given the lack of precedent in handling such cases, a clear legislative and regulatory framework is required to ensure adherence and compliance to Shariah principles and other regulations.
This one day multi-speaker seminar will provide bankers, lawyers and scholars involved in Islamic finance with a clear analysis and understanding of the key regulatory and Shariah issues surrounding restructuring of Islamic finance facilities as well as crucial legal, procedural, documentation and accounting issues to consider when defaults occur.
Agenda
09:00 - 10:30
Examining and Understanding Key Regulatory and Shariah Issues affecting Rescheduling and Restructuring
BNM guidelines and other pertinent regulations on rescheduled and restructured financing
Shariah issues contravening the principles of restructuring
‘Best Practice’ in a restructuring exercise
Shariah principles in restructuring, rescheduling and non-performing/bad loans
Late payment: understanding Ibra, Ta'widh and Gharamah in the context of restructuring & rescheduling
Panelist:
Mohd. Johan Lee — Managing Partner, J. Lee & Associates
10:30 - 11:00
Coffee & Networking
11:00 - 12:30
Understanding Legal Documentation for Restructuring and Rescheduling Islamic Facilities
Being aware of common pitfalls
Assessing laws regulating the restructuring of Islamic financing facilities
Understanding Islamic Finance and underlying contracts in the context of restructuring and rescheduling
Key legal Documentation involved
Issues relating to legal fees and stamp duty
Risks associated with restructuring Islamic finance
Panelist:
Mohd. Johan Lee — Managing Partner, J. Lee & Associates
12:30 - 14:00
Luncheon
14:00 - 15:00
Assessing Default and Recovery Procedures for Restructured and Rescheduled Islamic Finance Facilities
Letter of demand
National land code procedures and their meanings
Filing claims in court: practical and real-life considerations
Assessment of the enforcement of securities and judgments
A discussion of recent cases
Panelist:
Dato' Mohd Arief Emran bin Arifin — Partner, Wong & Partners
15:00 - 16:00
Examining Workout and Restructuring Issues for Sukuk and Islamic Syndicated Transactions
Comparisons and contracts between Sukuk and conventional bond restructurings
Key documents and agreements involved in Sukuk restructurings
Issues involving recourse and claims on assets
Parties to the process: responsibilities and obligations of each
