Latest Developments and Structures in Sukuk and Islamic Capital Markets
SIDC CPE - accredited: 10 CPE Points
Date: 2nd August 2017 Venue: InterContinental, Kuala Lumpur


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
  • Discussing key capital markets documents: Prospectus, Trust Deed (and variants), Subscription Agreement
  • Examining principal Sukuk structures in use and discussion of key factors in each from a documentary perspective
  • Identifying and discussing other key documentation issues for Sukuk and capital markets
Roslinda Ahmad — Former Head, Islamic Investment Banking, CIMB Group Islamic Banking Division
16:30 Q&A followed by Coffee & Networking