In collaboration with
CIMA Ireland half day CPD academy Islamic finance – the opportunities for Ireland Spring CPD academy 2011 Monday 11 April 2011, Clarion Hotel, IFSC, Dublin
The third annual Chartered Institute of Management Accountants (CIMA) CPD academy is a half day event taking place on Monday 11 April 2011. The title of this year’s CPD academy is ‘Islamic finance – the opportunities for Ireland’ and it will explore the domestic and global banking and corporate finance opportunities in tandem with the Irish government’s positioning of the IFSC as a Western hub for the provision of wholesale Islamic finance services. Education will be of critical importance in the achievement of this objective and CIMA is leading the way with the introduction of the Diploma in Islamic Finance which will be launched in the Irish market at the CPD academy. The CPD academy faculty will introduce world leading authorities on Islamic finance and will include an overview from the Irish perspective. The faculty will be led by Dr. Mohd Daud Bakar who is one of the world’s top Shari‘ah finance scholars and is also president and CEO of the Amanie Islamic Finance Learning Centre in Dubai. Senior business executives from development agencies and banking supervision in Ireland; Barry O’Leary, CEO, IDA Ireland and John Moran, Head of Wholesale Banking Supervision, Central Bank of Ireland will also participate in the academy. They will be joined by CIMA’s project manager for Islamic finance, John Willsdon.
Programme content
The IFSC as the Western hub for Islamic finance – emerging and future opportunities Barry O’Leary will address the role and opportunities being developed by the IDA in establishing Ireland as a leading provider of Islamic financial services and in particular the initiatives that will underpin the IFSC as the Western hub for Islamic finance.
of issues which cannot be addressed by conventional business practices. Shari’ahcompliant financial instruments must be judged by religious scholars to be in accordance with the tenets of Islam. According to Dr Bakar, it is vital to identify methods of educating Islamic financing, accounting, auditing and legal professionals in the context of the Islamic financial market. He will discuss Malaysia’s role as the Islamic financial hub in the Asia Pacific region and how it is taking a progressive role in educating Islamic finance practitioners. The application of Shari‘ah principles governing Islamic financial transactions, in the context of financial reporting, will also be explored.
The importance of education in the development of Islamic finance in the context of wholesale corporate finance markets The introduction of Islamic finance into the global financial market has raised a number
Islamic finance - context and contrast with conventional finance John Willsdon will provide an overview of Islamic finance showing the context in which it has grown and explaining the differences in practice.
Evolution of wholesale capital markets, and emerging and future roles of Islamic finance on domestic and international markets John Moran will speak on the evolution of wholesale capital markets and the emerging and future roles of Islamic finance on domestic and international markets.
Academy programme 9.00am Registration, tea and coffee
11.15am Coffee break
9.30am Introduction with chairman, John Willsdon, Project Manager for Islamic finance, CIMA Centre for Excellence
11.30am Dr. Mohd Daud Bakar, President and CEO, Amanie Islamic Learning Finance Center, Dubai
9.45am John Moran, Head of Wholesale Banking Supervision, Central Bank of Ireland
12.45pm Close with John Willsdon
10.30am Barry O’Leary, CEO, IDA Ireland
1.00pm Light lunch and refreshments
About the faculty Dr. Mohd Daud Bakar President and CEO of the Amanie Islamic Finance Learning Centre in Dubai is regarded as one of the world’s top three Shari‘ah scholars and is the authority in Islamic legal theory and Islamic finance in Malaysia. He is also chairman of the Central Shari’ah Advisory Council of the Central Bank of Malaysia. He received his first degree in Shari’ah from University of Kuwait in 1988 and obtained his PhD from University of St. Andrews, United Kingdom in 1993. In 2002, he completed his external Bachelor of Jurisprudence at University of Malaya, Malaysia. He has published a number of articles in various academic journals and books and presented many papers in various conferences both local and abroad. Dr Mohd Daud is also a member of Shari’ah board of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) (Bahrain), International Islamic Financial Market (IIFM) (Bahrain), Dow Jones Islamic Market Index (New York), Oasis Asset Management (Cape Town, South Africa), Unicorn Investment Bank (Bahrain), Financial Guidance (USA), BNP Paribas (Bahrain), Morgan Stanley (Dubai), Jadwa-Russell Islamic Fund (Kingdom of Saudi Arabia), Bank of London and Middle East (London), Noor Islamic Bank (Dubai), Islamic Bank of Asia (Singapore) and in other financial institutions both local and abroad. Apart from that, Dr Mohd Daud is also actively advising in capital market product structuring such as Sukuks both local and abroad.
Barry O’Leary Barry is CEO of IDA Ireland which is leading the way in implementing government policy to establish Ireland as the European hub for Islamic finance. Barry O’Leary was appointed chief executive designate of IDA Ireland in 2007 formally taking over the role on 1 January 2008. He has been deeply involved in changing the profile and raising the value of Ireland’s inward investments over the past ten years. He has been primarily responsible for the successful establishment of Ireland as the leading global location outside the US for biopharmaceuticals. He has also undertaken strategic change and built new strengths in research and development, medical technologies, information and communications technology and other areas. In the financial services sector, he is closely associated with winning major projects from companies such as Bertelsmann, SAP, Deutsche Bank, Lufthansa, Kostal, Allianz and a number of key Italian financial services projects. He is a board member of Forfas.
About the faculty (continued) John Moran
John Willsdon
John is head of wholesale banking supervision at the Central Bank of Ireland. He was a founding member of Zurich Bank/Zurich Capital Markets Ireland where he worked from 1997 to 2005. He was previously CEO and board member (Sydney, London and New York) of Zurich Capital Markets. He has also worked in Sullivan & Cromwell (New York), GE Capital and McCann FitzGerald. He is an associate member of the Institute of Taxation of Ireland and a fellow of the Institute of Bankers in Ireland. He was admitted as a solicitor by the Law Society of Ireland and as an attorney after completing the New York state bar exams.
John is the CIMA project manager for Islamic finance. John is a learning and development specialist within CIMA’s Centre of Excellence. Prior to this he was a senior lecturer with the University of Abertay Dundee. He received his first degree in accountancy and finance from Heriot Watt University in 1978. He qualified as a chartered accountant with the Institute of Chartered Accountants of Scotland in 1981. He obtained a Masters in Entrepreneurship in 1999. During his 20 years at the University of Abertay, Mr Willsdon specialised in teaching financial accounting, auditing, taxation and entrepreneurship. He was also instrumental in the development of a wide variety of courses in his role of director of courses including the project management of the development of degrees in accounting, taxation and finance. Mr Willsdon joined CIMA in 2006 whereupon he undertook the role of project manager on the creation of CIMA’s new Certificate in Islamic Finance. In the subsequent four years he has overseen the development and launch of the certificate and the development of the Diploma in Islamic Finance.
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