WhiteLine


















"This is the first time the four main regulators have collaborated on such an event."

 

"A truly exceptional program"

 


Post-conference workshops

 

Download Pdf

Post-conference workshops

16th & 17th August 2006

At the conclusion of the main conference on 14th & 15th August, we will hold 2 one-day, separately bookable training workshops. Both sessions are conducted by your conference moderator, Mr Abdulkader Thomas, and will closely reflect issues likely to be discussed during the panel discussions of the main conference. Why not attend both and complete your technical understanding of important issues raised during the conference? The sessions will be attended by similarly-minded individuals and are certain to be highly beneficial for issuers, investors and intermediaries alike.

Workshop A : 16th August 2006
Latest Structuring Issues in the Islamic Capital Market:  Sukuk & Derivatives 

Workshop B : 17th August 2006
Global Islamic Fund Structuring with an Emphasis on Real Estate

Price: US$850 per person for each workshop. Attend both for the special price of US$1600 per person.

 

Workshop A

Latest Structuring Issues in the Islamic Capital Market:
Sukuk
& Derivatives

Workshop Content

Introduction to Primary Underlying Principles of Islamic Finance as applied in the Capital Markets
+ Questions of riba & gharar
+ Possession, Ownership

Capital Markets & Securitization
+ Types of Sukuk and comparison with conventional bonds and Asset Backed Securities
+ Overview about recent issues of Sukuk and the market demand/subscription
+ Overview of market growth, demand factors, and absence of secondary markets

Legal, Tax and Infrastructure Concerns for the Islamic Capital Markets
+ Offering requirements for placements in the Middle East
+ Trust and SPV rules, absence thereof
+ Regulatory developments and differences from jurisdiction to jurisdiction
+ Structural problems in the different key markets
+ Role of the Ratings Agencies

Case Study: Syndicated Transactions v. Sukuk
+ Analysis of typical syndicated Islamic lease
+ Analysis of typical sukuk al ijara
+ Comparison to sukuk al musharaka
+ Whither the BBA?
+ Discussion of market opportunities and challenges

Question & Answers  

Islamic Principles applied to Future Flow and Revolving Syndication
+ Structural Headaches
+ Market needs and Prospective Solutions

Case Study: Canadian Gas
+ Future flow components
+ Challenges in Cross Board Placement
+ Team Exercise
+ Comparison to other forms of sukuk

Al Intifa'a Ijara Derivative
+ Zam Zam Tower logic and structure, comparison to basic ijara
+ Flexibility of application

Derivatives: An Under-Explored Frontier
+ Risk Dispersion/Hedging v. Arbitrage
+ Key Financial Instruments
+ Futures, Forwards, Options, Warrants & Arbun
+ Strategies

Wrap-Up and Q&A

Recommended Companion Document: Islamic Bonds by Nathif Adam and Abdulkader Thomas (London : Euromoney 2004)

 

Workshop B Top

Global Islamic Funds Structuring with an emphasis on Real Estate 

Workshop Content  

Introduction to Primary Underlying Principles of Islamic Finance as applied in the Capital Markets
+ Questions of riba & gharar
+ Possession, Ownership

Core Organizing Concepts
Examining the principles of Islamic investing when applied to real estate
+ Musharaka v. Mudaraba
+ Important rules to carry forward
+ Leverage

What are Sukuk?
+ Definition of Sukuk
+ Shariah Basis of Sukuk
+ Why they matter

Practical Islamic Funds Issues
Assessing the composition and selection of Shariah advisors
+ Separating marketing and distribution functions
+ Selecting and using appropriate benchmarks
    - REITs?
    - Local market indices?

Determining the distribution channels and fee structures
+ Matching Expectations
+ Understanding where each party expects to make money
+ Insights to key investment styles for Islamic property investors

Leveraging Challenges
+ Leveraging & Yield
+ Leveraging for Tax Management
+ Shariah Leveraging; Shariah /Conventional Leveraging in the same deal
+ How might Sukuk affect this problem

Musharaka v. Ijara for Leveraging
+ The Traditional Master Lease Leveraging Structure: Sunnyside Apartments
+ Developments with Musharaka � Gold Sukuk, DMCC
+ Gold Sukuk dmcc as a an alternative to istisna'a

UK Logistics � Murabaha Still Works
+ Tax challenges
+ Matching investor goals to UK realities
+ leveraging issues

Asian Market Developments
+ The Korean and Japanese silent partnership approaches � a good match up to mudaraba?
+ What are the optimal offshore hubs?
+ Do REITs make sense � Singapore , Malaysia , Japan ,�
+ Taking advantage of the rich Malaysian tool kit

REITs, Hedges and other Exotica
+ What makes a conventional REIT acceptable to Islamic investors?
+ What would constitute an Islamic REIT, is there one, is it so difficult?
+ What are the tools available to mitigate rate and currency risk

Wrap-up and Q&A

 

Expert Workshop Leader

Abdulkader Thomas

President & CEO, SHAPE� Financial Corp. (www.shapefinancial.com), Arlington, Virginia and Kuwait . Consultants to the US and international financial community in matters relating to Shariah compliant financial structuring; sub-advisor to the global securities industry with respect to Sukuk and other forms of Islamic transactional issuance; and Islamic banking training resource. Clients include University Bank of Ann Arbor, Salam Financial Corp. of Toronto, Siraj Capital, Ltd. of Jeddah, First Investment of Kuwait, Qatar Consulting of Doha, Khazaen Venture Capital of Kuwait, Taj Capital of Toronto, and others.

Abdulkader has 25 years of diversified financial services experience. A graduate of the Fletcher School of Law & Diplomacy in international trade, Abdulkader earned a BA with honors in Arabic & Islamic Studies from the University of Chicago .

Based in Kuwait , Abdulkader has worked in Bahrain , New York , London , Washington , D.C., and Los Angeles . His areas of activity have included trade finance, real estate finance, securities, and Islamic finance at Citibank, Credit Lyonnais, Sumitomo Bank, Ltd., The United Bank of Kuwait , and MEF Money/Guidance Financial Group.

Abdulkader is responsible for shepherding the first US banking regulatory approvals of Islamic financial instruments for Ijarah wa Iqtina and Murabahah . More recently Abdulkader secured regulatory approval for an Islamic profit sharing deposit to be applied in the US . Abdulkader also structured the first REIT of REIT's structured to allow Muslims to invest in listed US REIT's whilst complying with Shariah . Abdulkader has also been involved in the structuring of inbound foreign investment for both the US and the UK . Abdulkader has included supervising marketing and consumer demographics in conjunction with new business launches.

Abdulkader is a frequent speaker and author on Islamic financial and banking matters. He is the author of several works in the field including Structuring Islamic Financial Transactions with Stella Cox and Bryan Kraty (London: Euromoney, 2005) Islamic Bonds: Your Guide to Issuing, Structuring and Investing in Sukuk with Nathif Adam (London: Euromoney, 2004). Forthcoming books include and Interest in Islamic Economics: Understanding Riba (contracted with Taylor & Francis � Routledge for early 2006) and his translation of the memoirs of Dr. Ahmed Elnagger.

Workshop Venue: Crowne Plaza Mutiara Hotel, Jalan Sultan Ismail, Kuala Lumpur

  Hosts

Lofsa

  Supporter
  Sponsors

  Takaful Sponsor
 Technology Sponsor
  Issuers' Lunch
  Sponsor
  Investors' Lunch
  Sponsor
  Media Partner

  Produced By

CALL NOW: +60 3 2143 8100