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