Date: 19th October 2016 Venue: DoubleTree Hotel, Kuala Lumpur

SIDC CPE - accredited: 10 CPE Points

Waqf is a financial charitable institution established by withholding one's property to eternally spend its revenue on fulfilling the various needs in a given society depending on the choice and condition made by the founder. Through its financial support it manages to provide varieties of goods and services needed in the different societies such as sheltering and feeding the poor and needy, providing education and promoting health care for the mass, financing the needy, opening jobs for the majority, activating business, constructing highways and linking countries and providing basic infrastructure. Waqf is not a new concept, however its recent emergence in its movable form of cash and corporate Waqf, and the opportunities this presents, have caught the attention of financial institutions and corporates alike.

 

Agenda

09:15 - 10:30 Session One: Introduction to Waqf: Administration, Governance and Structuring Issues
  • Definition of Waqf and Waqf-based products
  • Classification of Waqf properties
  • Rules necessary for the validity of Waqf
  • Stipulations for the creation of Waqf
  • Broad administration and governance issues of Waqf
  • Socio economic role of Waqf
Panelist: Assoc. Prof. Dr. Magda Ismail Abdel Mohsin — Lecturer & Researcher, International Centre for Education in Islamic Finance (INCEIF)
10:30 - 11:00 Coffee & Networking
11:00 - 12:00 Session Two: Examining Movable Waqf, Cash Waqf and Corporate Waqf - New Innovations
  • Legitimacy, creation and investment of cash Waqf
  • Direct & indirect cash Waqf models
  • Waqf mutual fund and Takaful model
  • Definition, legitimacy and governance of corporate Waqf
  • Structure of corporate Waqf
  • Founders of corporate Waqf and recent creation of corporate Waqf structures
  • Brief examples of each structure
Panelist: Assoc. Prof. Dr. Magda Ismail Abdel Mohsin — Lecturer & Researcher, International Centre for Education in Islamic Finance (INCEIF)
12:00 - 12:45 Session Three: Key Shariah Coordination and Compliance Issues for Zakat and Waqf-Based Products
  •  Identifying key Shariah issues of Waqf and endowment based finance initiatives
  • Discussing the structure of Waqf-based financial products and where Shariah issues can arise in the development of such instruments
  • nsuring Shariah compliance in Waqf-based financial products
Panelist: Aida Othman — Partner, Zaid Ibrahim & Co
12:45 - 14:00 Luncheon
14:00 - 15:00 Session Four: Assessing the Potential of Crowdfunding for Growth Waqf
  • Introducing the concept of Islamic crowdfunding
  • Exploring the concept of growth Waqf
  • Demonstrating WaqfWorld.org
  • Examining case studies of growth Waqf
Panelist: Umar Munshi — Managing Partner, EthisCrowd.com, Founder, EthisVentures.com & Chairman, Islamic Fintech Alliance
15:00 - 16:00 Developing Innovative Zakat Structures for Islamic Finance and Islamic Financial Institutions
  • Identifying the main objectives of Zakat and classifying types and sources of wealth open to Zakat
  • Understanding key Shariah issues for Zakat
  • Discussing administration and operational issues for Zakat
  • Examining future roles and opportunities offered by Zakat for Islamic finance and Islamic financial institutions
Panelist: Assoc. Prof. Dr. Magda Ismail Abdel Mohsin — Lecturer & Researcher, International Centre for Education in Islamic Finance (INCEIF)
16:00 Seminar Conclusion