Bank Negara Malaysia recently released detailed Shariah guidelines, requirements, 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 Hibah, Wadiah, Qard, Wakalah, Kafalah and Ijarah. Industry experts will cover the most important elements of each, and will identify key areas for attention and action.
KEY LEARNING OUTCOMES
Identify and understand the announcement and implementation timetable for regulatory and Shariah standards and requirements
Assess and evaluate recent Shariah requirements and optional practices for Wakalah and Kafalah-based structures and products
Examine and evaluate recent Shariah requirements and arrangements for Hibah, Wadiah & Qard
Understand and absorb the key to effective Shariah audit and review for Islamic banking operations offering Hibah, Wadiah, Qard, Wakalah and Kafalah contracts and features
Ensure Shariah compliance throughout product development and facilitation for Hibah, Wadiah, Qard, Wakalah, Kafalah and Ijarah and various combinations
Identify and evaluate recent Shariah requirements 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
Agenda
09:00
Welcome
09:15 - 10:45
Shariah Requirements, Optional Practices and Arrangemensts for Wakalah and Kafalah
Identifying and evaluating recent Shariah requirements for Wakalah and Kafalah-based structures and products
Discussing the arrangement of Wakalah and Kafalah-based structures and identifying key Shariah issues
Assessing the combination of Wakalah and Kafalah with other contracts
Evaluating Shariah issues associated with dissolution and completion of Wakalah and Kafalah-based structures and products
Ensuring Shariah compliance throughout product development and facilitation
Panelist:
Associate Professor Dr Rusni Hassan — Deputy Dean IIUM Institute of Banking & Finance and member, Shariah Advisory Council, Bank Negara Malaysia
10:45 - 11:00
Coffee
11:00 - 12:30
Shariah Requirements, Optional Practices and Arrangements for Hibah, Wadiah and Qard
Identifying opportunities for banks to incorporate Hibah, Wadiah and Qard structures and features
Examining and evaluating recent Shariah requirements for Hibah, Wadiah & Qard
Discussing the arrangements of Hibah, Wadiah and Qard structures and identifying key Shariah issues
Assessing the combination of Hibah, Wadiah and Qard with each other as well as other contracts
Evaluating Shariah issues associated with dissolution and completion of Hibah, Wadiah & Qard
Ensuring Shariah compliance throughout product development and facilitation
Panelist:
Associate Professor Dr Aishath Muneeza — International Center for Education in Islamic Finance (INCEIF)
12:30 - 13:45
Luncheon
13:45 - 15:15
Shariah Requirements, Optional Practices and Arrangement for Ijarah
Identifying and evaluating recent Shariah requirements for Ijarah-based structures and products
Analyzing the management of Ijarah-based contracts: use of assets, usufruct
Discussing the arrangements of Ijarah and identifying Shariah issues: Ijarah with sales, forward, sublease and leaseback 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
Panelist:
Mohd Johan Lee, Managing Partner — J Lee & Associates
15:15 - 15:30
Coffee
15:30 - 16:15
Shariah Requirements, Optional Practices and Arrangements for Ijarah (continued)
Analyzing the management and arrangement of Ijarah Muntahiyah Bi Tamleek
Highlighting and discussing key Shariah requirements and practices of Ijarah Muntahiyah Bi Tamleek
Panelist:
Mohd Johan Lee, Managing Partner — J Lee & Associates