This one day seminar will examine the very latest trends and techniques in Sukuk and Islamic capital markets. We shall examine the core structures and uses of Sukuk for funding as well as more advanced topics such as Sukuk pricing. The seminar will examine global as well as local trends and initiatives.
KEY LEARNING OUTCOMES
Evaluating Sukuk Structures and the Use of Sukuk Instruments for a Range of Funding Purposes
Assessing Tradability of Sukuk and Analyzing Specifics of Sukuk Pricing
Examining Latest Sukuk and Islamic Capital Markets Requirements, Products and Trends in Southeast Asia
Understanding Key Documentation Issues for Sukuk and Islamic Capital Markets
Agenda
9:00 – 10:30
Session One: Evaluating Sukuk Structures and the Use of Sukuk Instruments for Balance Sheet Funding
Types of Sukuk
Trade-based: Murabahah, Ijarah, Salam and Istisnah Sukuk
Risk sharing: Mudarabah and Musharakah Sukuk
Sukuk as balance sheet funding
Which assets should underlie Sukuk?
What implications does the choice of assets have for balance sheet de-recognition?
Dr Ken Baldwin — Former Director, Financial Policies & Planning, Islamic Development Bank
10:30 – 11:00
Coffee
11:00 – 12:30
Session Two: Assessing Tradability of Sukuk and Analyzing Sukuk Pricing
Tradability of Sukuk
Which Sukuk are tradable and what are the Shariah principles which determine tradability?
Why are Sukuk markets so thin and what can be done to deepen them?
Sukuk pricing
Why pricing Sukuk as conventional bonds is not correct
How can Sukuk be priced to better reflect their actual risks?
An example of real estate underlying
Dr Ken Baldwin — Former Director, Financial Policies & Planning, Islamic Development Bank
12:30 – 14:00
Lunch
14:00 – 15:00
Session Three: Examining Latest Sukuk Structures and Funding Requirements in Southeast Asia
Evaluating the latest options available for capital raising in Southeast Asia: Sukuk, Islamic syndications, private placements
Assessing more complex Sukuk structures for the Asian markets; perpetuals, exchangeable and convertible issues, Basel III compliant issues
Analyzing recent key pricing, documentation, structuring, book-building and distribution issues for Islamic capital markets in Southeast Asia
Identifying and discussing ways to increase corporate Sukuk issuance in Southeast Asia: ease of issue, legal, accounting issues
Tahir Ali Sheikh — Director & Head, Islamic Advisory, CIMB Islamic
15:00 – 15:30
Coffee
15:30 - 16:30
Session Four: Understanding Key Documentation Issues for Sukuk and Islamic Capital Markets
