AMANAH
STRATEGY INSTITUTE
2013
CATALOGUE DE FORMATION
FINANCE ISLAMIQUE CREATING VALUE THROUGH INNOVATION
European Headquarter 111, Avenue Victor Hugo Paris 16 - FRANCE
Worldwide Offices HONG-KONG INDONESIA TUNISIA BAHRAIN CZECK REPUBLIC
EDITO
Having worked as a banker and as a consultant and delivered for the last 15 years workshops, conferences, trainings and seminars, I realized how important is to marry content with the context during a training session. I realized also that training participants need to acquire not only knowledge but as well need to know how to use the knowledge in the context of their institution they were for. Hence i have today a full conviction that training will be successful if delivered in-house and dedicated to the audience. Adding to this, we recognize that different people have different learning styles and that financial institutions look for the most time-effective training solutions. We are committed to delivering the best possible in-house training and we look forward to welcoming delegates to Amanah Strategy Institute at our Paris city centre location and internationally. MAJDI CHAABOUNI MANAGING DIRECTOR
PRESENTATION APPROACH At Amanah Strategy Institute our approach to training is flexible and we are passionate about making our courses available to all bankers and financiers. Our training courses can only be delivered in-house and we can work with you to ensure the content is adapted to meet the exact needs of your participants. All our programmes are tailored or specifically developed to meet your requirements. We will work in partnership with you and deliver to you solutions and not only training sessions. The breadth and depth of our trainers’ knowledge as well as our firstclass capability enables us to provide both short oneoff courses and longer, more intensive programmes. In each case, we will work closely with you from the very start. We will clarify your learning objectives and the relevant training needs of your organization to successfully deliver the agreed solution.
OBJECTIVES
ENGAGEMENT
Amanah Strategy Institute can help maximize the return on your training investment by designing and delivering training programmes that meet organization goals; something at which we excel in the banking & finance fields.
The advantage of In-House Training is that the instructor can tailor the event to meet your specified learning objectives. We can use your own data and process to fashion the training exercises. This customization effort from our side translates our engagement to you to deliver success in today’s fast-paced financial environment.
Amanah Strategy Institute is an innovative and flexible online learning environment, delivering rich content that can help rapidly improve the skills of the finance workforce. We help companies to drive better execution across the global finance function and develop more agile financiers To be successful in today’s fast-paced financial environment, financiers and bankers need to master a wide range of complex financial tasks. Our sophisticated portfolio of in- house training programmes is designed to address the learning needs, fill knowledge gaps and deliver a practical approach.
Whatever the starting point, we guarantee that we will deliver an excellent learning and development experience, employing the services of an outstanding expert trainer focused entirely on ensuring that you achieve all your training objectives as a financial institution.
The Certified Islamic Banker «CIB» from CIBAFI The Certified Islamic Banker «CIB» from CIBAFI The certified Islamic Banker certificate aims at improving the capabilities and skills of the staff in the Islamic finance and banking sector. It equips its holders with sound and integrated fundamentals and bases of the Islamic banking industry. It also provides them with the professional knowledge, expertise and the proper banking applications, and enables them a straightforward and steady start toward an array of career options. On the other hand, the Certified Islamic Banker is necessary not only for those working in the Islamic finance industry; it is rather needed by all those dealing with Islamic financial institutions , by university graduates , by all those wishing to pursue a career in Islamic financial institutions and by new entrants. The Certified Islamic Banker is issued by the General Council for Islamic Banks and Financial Institutions; an international non-profit professional body that constitutes the official umbrella for all Islamic financial institutions in the world.
Who should attend? ¤ Professional bankers ¤ Staff in Islamic banks and financial institutions ¤ Students of Islamic finance and jurisprudence ¤ Sharia scholars and Islamic finance consultants ¤ All those seeks to join the Islamic finance industry Amanah Strategy Institute signed the accreditation agreement with CIBAFI in order to provide the course session of CIB as one of the major certificates of the International Diploma In Islamic Finance (IDIF) accredited and issued by the General Council of Islamic Banks and Financial Institutions (CIBAFI) in Bahrain.
CONTENT DAY 1
Module 1 : An introduction to Islamic Finance Transactions ¤ Reference to Sharia’h: Faith, Ethics, and Fiqh ¤ Discarding taboos: usury, deceit, and injustice ¤ Introduction to contracts and Islamic financial law ¤ Object of Financial Transactions from Sharia’h perspective
DAY 4
Module 4 : Islamic Investment Operations ¤ Modalities of participation in the profit and loss ¤ Provisions of investment in the financial markets ¤ Profit-sharing formulas
DAY 5
Module 5 : slamic Banking Services
DAY 2
Module 2 : Islamic Banking System ¤ Emergence and development of Islamic banks ¤ Characteristics of the Islamic banking system ¤ Characteristics of return in Islamic banking ¤ Current accounts & Investment accounts ¤ Contracting will
DAY 3
Module 3 : Islamic Finance Operations ¤ Murabaha Financing ¤ Salam Financing ¤ Ijarah Financing ¤ Istisna Financing
¤ Documentary credits Shari’ah view & applications of Islamic banking services ¤ The difference between allocations for Wakalah, profit-sharing and participation, and speculation ¤ Letters of Guarantee: Kafalah and Guarantee letters of credit, procedures, Sharia’h controls…
DAY 6
The Certification exam ¤ Mock exams & preparation for the exam ¤ The certification exam
Initiation à la Finance Islamique
PROGRAMME
JOURNEE 1
Module 1 : Les fondements de la finance islamique, origine et contexte historique
Objectifs • Découvrir les principes et pratiques de la finance islamique • Se familiariser avec les principaux instruments et contrats • Cerner les réalités, enjeux et perspectives du marché international • Sepréparerauxprincipauxcertificatsinternationaux • Développer une expertise métier
Cible • Les professionnels de la banque classique et banque conventionnelle • Les professionnels de la banque Islamique • Les professionnels désirant avoir une certification en finance Islamique
• Historique de la Finance Islamique et contexte de son développement contemporain • Le droit musulman et les contrats • Les principes fondamentaux de la Finance Islamique • Lafinanceislamiquecomparéeàlafinanceconventionnelle Cas : la validation par les conseils religieux de supervision (Shari’a Boards) - comparaison des pratiques entre les grands centres de la Finance Islamique (M.O. et Malaisie)
Module 2 : les principaux instruments de la finance islamique et mode opératoire des banques islamiques • Les principaux instruments de la finance islamique Cas : Mode de calcul d’une opération de Financement • Le mode opératoire et la gestion des banques islamiques Cas : Calcul des Profits alloués aux Déposants, Calcul de la Réserve d’égalisation des profits et de la Réserve pour risque d’Investissement. Cas : Gestion du Pool d’Actifs d’une Banque Islamique
JOURNEE 2
JOURNEE 3
Module 3 : les fonds islamiques et les Sukuk
Module 5 : Le Système Financier Islamique Dans La Globalisation
• Les Fonds d’Investissement Islamiques -Aperçu des différents types et Fonds Islamiques -Les Fonds Islamiques en Actions -La procédure de sélection d’un Portefeuille d’actions « islamiques » -Les différents indices « islamiques » (DJIM, FSTE Islamic…) • Les Sukuk – Certificats islamiques - Définition et caractéristiques - Comparaison avec les obligations - Structuration d’un Sukuk - Les différents types de Sukuk (AAOIFI)
Module 4 : Introduction à l’assurance islamique - Takaful • Les concepts et les principes de base • Comparaison entre l’Assurance islamique et l’Assurance conventionnelle • Les différents modèles d’assurance islamique • Les catégories de produits • Traitement du Surplus Cas : exemples chiffrés pour chacun des modèles proposés.
• La régulation et la supervision des Institutions Financières Islamiques • Les Normes et Standardisation de l’Industrie • Principales institutions formant l’ossature de l’Industrie de la FI : IDB, AAOIFI, IFSB, IIFM, IIRA… Cas : Principaux obstacles juridiques et fiscaux
Module 6 : Panorama Et Actualité De La Finance Islamique • Les chiffres clés et la cartographie des principaux acteurs et « corridors » stratégiques de la FI • Analyse de l’Impact de la Crise Financière sur la Finance Islamique • Les perspectives de Développements de la Finance Islamique
Module 7 : Les développements de la finance dite « Alternative » au Maroc • Le contexte de la Finance Islamique au Maroc • Les acteurs de la Finance « Alternative » • Les produits « alternatifs » offerts Cas : Le financement immobilier « alternatifs » au travers des instruments disponibles au Maroc
Maîtriser la Finance Islamique
Un atelier de deux jours pour les banquiers et financiers souhaitant mieux approfondir leur connaissance en finance islamique.
Objectifs
Ce séminaire se situe à un niveau intermédiaire et suppose une connaissance préalable des bases de la Finance islamique. Il constitue un prolongement logique des séminaires «Introduction à la Finance Islamique» et qui présentent les outils fondamentaux de la Finance islamique. Ce séminaire est conçu pour enseigner aux délégués les principes du système bancaire islamique et de mettre en évidence les différences entre les banques islamiques et conventionnelles. Le séminaire explore les différents produits et services proposés dans le marché mondial islamique et il évalue les avantages et les inconvénients de chacun. À la fin du séminaire les participants auront une compréhension complète des produits et des principes impliqués dans la finance islamique et comment ils diffèrent des modèles bancaires occidentaux. L’objectif est de mieux appréhender les pratiques de la Banque Islamique. Ce séminaire propose une approche structurée de la gestion des banques islamiques.
Cible Tous ceux qui cherchent une compréhension approfondie de la nature et la forme de la finance islamique. Cette formation s’adresse aux cadres de la banque en exercice qui souhaitent : • Cerner au mieux les opportunités de la finance islamique • Comprendre les différents montages financiers islamiques. • Identifier les risques spécifiques à la finance islamique.
Les Pré- requis Une connaissance de base de la banque conventionnelle et le secteur des services financiers ainsi qu’une connaissance de base des produits islamiques.
Méthodologies pédagogiques Cours sous forme de présentation et interactive sous forme d’atelier pratique destiné à affirmer l’objectif d’apprentissage.
PROGRAMME JOURNEE 1 Session 1: Modèles des banques conventionnelles • Historique • Types de banques conventionnelles • Les produits proposés • Les principes de base
Session 2: Principes de la finance islamique • Riba, interdiction de l’usure et de l’intérêt • Financements exclusivement adossés à des actifs • Partage des profits et des pertes, responsabilité sociale • Principaux produits de crédit et d’investissement • Mousharaka ou Shirka • Moudharaba, Ijara • Salam, Istisana et Mourabaha • Soukouk • Takafoul Etude de cas: exemple de banque islamique.
Session 3: L’environnement économique de la banque islamique Importance et développement de la finance islamique • Moteurs du développement • «Fenêtres islamiques» des banques • Croissancedanslespaysmusulmansetnon-musulmans • Stratégies et innovation dans la finance islamique • Implications pour le risque de contrepartie et le développement des affaires Exercice: comparaison des risques bancaire dans les pays qui pratiquent la finance islamique. Règlementation et supervision • Arbitres de la conformité islamique • Exigences de fonds propres définies par l’Islamic Financial Services Board et application de Bâle II dans les pays où opèrent les banques islamiques • Comités de Conformité Charia (Sharia compliance boards) et risque opérationnel Exercice: analyse comparative des banques islamiques et traditionnelles sur la base des principaux facteurs concurrentiels.
Comprendre les états financiers d’une banque islamique
JOURNEE 2 Session 4: la structure de la banque islamique • Structure et organisation des banques islamiques • Différences entre une banque islamique et une banque conventionnelle avec une fenêtre islamique « islamic Window » • Services offerts • Techniques de gestion de l’investissement.
Session 5: Présentation des ressources d’une banque islamique • Principes de base de dépôt islamique • Dépôt islamique et compte à terme islamique • Composition du capital et des réserves d’une banque islamique • Présentation de Amanah, Wadia
Session 6: la gestion d’une banque islamique Comprendre les états financiers d’une banque islamique • Sources et qualité de l’information • Aspects comptables particuliers aux produits de finance islamique • Etude d’un rapport annuel d’une banque islamique
• Qualité des actifs d’une banque islamique • Calcul des commissions et estimation approximative des revenus d’intérêts • Ratios de mesure de la performance globale • Comparaison des performances des banques islamiques et conventionnelles Exercice: analyse comparative de banques islamiques du Moyen-Orient et de banques islamiques asiatiques. Comprendre les techniques de refinancement et de la gestion de laTrésorerie d’une banque islamique • Refinancement et gestion de la trésorerie • Gestion de la liquidité sans recours au marché interbancaire • Protection et revenus des dépôts • Concepts de capital et de dette Exercice: analyse d’une émission de titres de capital par une banque islamique • La Responsabilité Limitée est-elle conforme à la Charia? • Catégories de capital et exigences de fonds propres pour une institution financière islamique Etude de cas: mise en application de l’ensemble des concepts abordés dans le cadre de l’analyse complète d’une banque islamique.
Session 7: Challenges Pour Les Banques Islamiques • Comprendre comment contrôler la croissance d’une banque islamique • Standardisation et règlementation des produits islamiques • Innovation et développement des produits.
Islamic Banking for Executives and Senior Managers A one-day introductory workshop for bankers and finaniers wishing to better understand Islamic Banking institutions and practices.
Objectives This advanced course is designed to teach delegates how Islamic bank operates under Islamic banking rules. In particular delegates will understand the principles of Islamic Finance, Shariah law and the key Islamic products, Compare and contrast the components of an Islamic financial institution’s balance sheet and income statement to those of a non-Islamic financial institution, Identify the risks particular to Islamic financial Institutions and Use a structured approach to assess the performance of Islamic Banks.
Who should attend?
Executives, decision-makers and any middle-management level and assumes a good understanding of bank management.
Learning Pre-requisites
Advanced level knowledge of conventional banking and the financial services sector would be helpful.
Teaching Methodologies
Classroom lectures and interactive practical workshop format intended to affirm the learning objectives.
CONTENT
OVERVIEW OF ISLAMIC BANKING Principles of Islamic finance
¤ Review of regulation related to of capital adequacy and the application of Basel II in Islamic banking ¤ Sharia compliance boards
Main products used in Islamic banking
FINANCIAL FUNDAMENTALS
¤ Riba, the objection to usury or interest ¤ Exclusive asset backed financing ¤ Profit and loss sharing ¤ Musharakah or Shirkah ¤ Mudarabah ¤ Ijarah ¤ Salam, Istisana and Murabaha ¤ Sukuk ¤ Takaful
Statement Report Disclosure
¤ Sources and quality of disclosure ¤ Accounting issues for Islamic products ¤ Reviewing an annual report
Business risk
¤ Evaluating asset quality ¤ Review of Ratios to measure overall performance Important features in Islamic banking ¤ Structured approach - application of purpose ¤ Comparing Islamic banks performance with conventional banks payback model to Islamic banks ¤ Key differences between Islamic and conventional Financial risk ¤ Funding and treasury management banks ¤ Managing liquidity without using the interbank market ¤ Structure and seniority in Islamic structures ¤ Depositor protection and deposit income ¤ Significance of wadia deposits ¤ Equity versus debt concept ¤ Capital adequqcy in an Islamic institution
HOW ISLAMIC BANK OPERATES?
Business growth and the significance of Islamic Finance ¤ Review of key drivers of the change ¤ Explanation on Banks’ Islamic windows ¤ Growth in Islamic and non Islamic countries ¤ Product developments and Islamic banking strategies
Regulation and supervision:
¤ Review of Islamic compliance ¤ The Islamic Financial Services Board
CHALLENGES FOR ISLAMIC BANKS
¤ Managing growth ¤ Standardization and regulation of Islamic products ¤ Product innovation and development ¤ Skills shortage in Islamic finance and Sharia law
The Islamic Banker Š Leadership Programme
Amanah Strategy Institute designed a unique programme in partnership with the General Council of Islamic Banks and Financial Institutions (CIBAFI) in Bahrain and GPI in London
WHAT ? A PROGRAM TO ENABLE ISLAMIC BANKERS TO INNOVATE LOCALLY It is a professional, innovative & intensely personal experience that provides :
• a new framework of leadership to drive product development • a platform for Islamic bankers to evolve their mindset • a toolbox to help conceptualise, develop, commercialize & approve new products
WHY ? WE KNOW TODAY’S CHALLENGES GO BEYOND JUST COPYING CONVENTIONAL BANKING PRACTICES Islamic Banking needs : • more product development & idea generation • more cooperation, understanding & teamwork between Islamic Bankers & Scholars • more awareness & promotion among the public of the above
HOW ?
BY EMPOWERING ISLAMIC BANKERS TO LEAD THE CHANGE
The program will nurture a new approach by : • tapping into your creative & innovative spirit • enhancing your skill-set for the global success of Islamic Banking • adapting your competencies to the modern needs of Sharia & banking functionalities
Retail Islamic Banking A three-day advanced workshop for retail and consumers Finance wishing to get more deep understanding of retail and consumers activities in an Islamic Banking institution.
CONTENT
DAY 1 Session 1: A Practical Introduction to Islamic Finance
¤ Review of forbidden transactions in Islamic commercial law ¤ Theory of contracts – the framework ¤ Key differences to conventional finance
Session 2: Overview of Islamic Finance Instruments:
Objectives
This advanced course is designed to teach delegates how retail and consumers’ lending operates under Islamic banking rules.
Who should attend?
Middle-management level and assumes a good understanding of Retail and consumers lending.
Learning Pre-requisites
Basic knowledge of conventional banking and the financial services in retail and consumers’ lending would be required.
Teaching Methodologies
Classroom lectures and interactive practical workshop format intended to affirm the learning objectives.
¤ Sale based instruments ¤ Lease based instruments ¤ Equity based instruments ¤ Strength and weakness of the different instruments
Session 3: Vehicle Finance
¤ Murabahah vs Ijara for vehicle finance ¤ Hamish Jiddiya, Khiyar al-Shart & Khiyar al-Wasf ¤ Usage of Istisna for vehicle finance ¤ Differences from conventional vehicle finance
Session 4: Personal Finance
¤ Options for personal finance solutions ¤ Recommendation on the appropriate solution ¤ Default, Late payment, Restructuring ¤ Differences between Shares Murabaha and commodity Murabahah ¤ Differences from conventional personal finance
DAY 2
DAY 3
Session 5: Home Finance – Completed Properties
Session 9 : Deposits - Saving Account
¤ Ijarah vs Musharaka Mutanaqisa for Home Finance ¤ Ownership of the title ¤ Responsibility for maintenance and insurance ¤ Usage of floating rate financing ¤ Using Murabahah for Home finance ¤ When does customer own the property? ¤ Default, Late payment, Restructuring ¤ Differences from conventional home finance
Session 6: Home Finance – Properties under Construction
¤ Common solutions for savings account ¤ Is your deposit guaranteed by the Islamic bank? ¤ Conventional vs islamic savings account
Session 10 : Term Investment
¤ Common solutions for term investment: Mudaraba and commodity Murabahah ¤ Comparison of all deposit instruments
Session 11 : Sharia’a Compliant Wealth Management Solutions
¤ Istisna vs Ijara Mawsoofa Bi Zhimma ¤ Who will have construction risk? ¤ Refund risk ¤ Musharaka Mutanaqisa vs financing property ¤ Default, Late payment, Restructuring ¤ Differences from conventional home finance
¤ Snapshot of the Islamic fund market ¤ Basic Islamic fund structure ¤ Different Sharia’a compliant asset classes ¤ Real Estate Funds & REITs ¤ Basic structured product
Session 7: Credit Cards
¤ Why conventional insurance is impermissible ? ¤ How does Takaful work? ¤ Takaful vs Conventional Insurance
¤ Options for credit card solutions ¤ Charged fees for the credit card ¤ Differences from conventional credit card
Session 8: Deposits - Current Account ¤ Common solutions for current account ¤ Conventional vs Islamic current account
Session 12: Takaful
Business & SME Islamic Banking A three-day advanced workshop for retail and consumers Finance wishing to get more deep understanding of retail and consumers activities in an Islamic Banking institution.
Objectives This advanced course is designed to help delegates to understand Islamic finance principles for business and SME financing and the state of play for SME financing in the Middle East, to examine legal documents for business and SME financing and to design a suite of products for a Musharakah bank to deliver dedicated financing for SME banking
Who should attend? This program is designed for those with exposure to Islamic finance in the SME and business banking sector. This program is designed for those with exposure to Islamic finance in the SME sector. The course will begin with a refresher of key principles, so will be suitable for those with a limited understanding of Islamic finance, but will quickly gather pace and address more complex products therefore benefiting those with more experience.
CONTENT DAY 1 : Islamic Financing Principles For SME Financing ¤ Definition of SME ¤ State of play for SME financing in the Middle East ¤ Current facilities extended by Islamic banks ¤ Working capital financing ¤ Machinery and vehicle purchase ¤ Project financing ¤ Factory construction ¤ Case studies and overview facility legal documents ¤ Club deals and syndication ¤ Adaptability of microfinance models for SME financing
DAY 2 : Designing a Musharakah bank to deliver dedicated financing for SMEs ¤ Pre case study briefing by course leader ¤ What are Islamic financing principles? ¤ How to extend equity financing to SMEs ¤ Musharakah bank ¤ Type of financing to extend to SMEs ¤ Worked out case study
DAY 3 : SME Classification ¤ Micro business ¤ Small businesses ¤ Medium sized businesses ¤ SME Start ups and Franchise ¤ SME Professional ¤ SME Procurement ¤ SME Global ¤ SME Bank Guarantee to other commercial banks ¤ Public Transport Development Fund ¤ Entrepreneur Premises Complex ¤ Business premises financing scheme
Islamic Corporate Financing
This 2-day Course, will provide a solid grounding in Islamic Corporate Financing and the Syariah Compliant Islamic Corporate Financing Legal Documents
Objectives Animated by Speakers’ combining experience in Islamic Banking and Finance. Case studies, live examples and interactive sessions will reinforce the Participants understanding of Islamic Corporate Financing and its Associated Legal Documents.
Who should attend?
Anyone seeking a basic understanding of the nature and form of Islamic Banking.
CONTENT
day 1 : Overview of Islamic of Financing Concepts Debt Financing Detailed explanation about the concepts of Debt Financing , Murabahah, Istisna’, Ijarah Muntahiah BitTamlik (“IMBT”), Salam, Inah, Qardhul Hasan.
Equity Financing Review of the concepts of Equity Financing through Mudharabah & Musharakah.
Other Islamic Financing Concepts Review of other concepts – Wakalah, Kafalah, Sarf, Wadiah, Rahn, Bai’, Dayn, Muzayadah, Hibah, Ibra’/ Muqasah, Ittifaq Dhimni, Sukuk, Sanadat, Ujr.
Usage of these concepts Corporate Financing
In Islamic
Application to Project Financing, Working capital financing, retail financing, syndication, consumer financing and personal financing.
Applications of Musyarakah & Mudharabah principles in share & project financing ¤ Case study in Share financing; ¤ Case study in Project financing; ¤ Other case study.
day 2 : Islamic Legal Documents Overview ofislamicFinancingLegislations ¤ Review of Islamic civil law environment. ¤ Review of Syariah & Islamic Banking Acts
Examination and summary of facility documentation Facility documentation in the Islamic Project Financing, Asset Acquisition, Working Capital Facilities, Bridging & End Finance and Syndications under concepts of BBA, Istisna’, Murabahah, Ijarah. Inah, Ijarah Muntahiah bitTamlik, Wakalah, Musyarakah and Mudharabah
Examination and summary of security documentation Special Requirements in Islamic Financing Documents
Structuring Islamic Financial Products
A two-day advanced workshop for bankers and financiers wishing to better understand how to structure Islamic transactions and products
Objectives This 2-day intensive & comprehensive workshop emphasizes the techniques and strategies to structure Shariah compliant products in Islamic financial institutions. The workshop will provide the delegates the opportunity to understand and examine most of the products be it in Islamic banking or capital market. On the first day of the workshop delegates will be introduced to the principles and foundations of Shariah. This will be followed by more advanced topics, and case studies be introduced to the delegates in the 2nd day of the workshop.
Who should attend? Corporate Bankers, Treasury specialist, Project Finance specialists, Legal department advisors
CONTENT day 1 : Fundamentals in structuring Islamic financial products AN OVERVIEW ¤ Development of Islamic finance ¤ Sources of Islamic law ¤ Ijtihad ¤ Peculiar techniques of law in Islamic banking and finance ESSENTIAL CONTRACTS BUSINESS IN ISLAMIC BANKING AND FINANCE ¤ Features of a valid contract ¤ Business contracts recognised in Islamic law ¤ Partnership contracts in Islamic law ¤ Prohibition of riba and gharar ¤ Issues: risk, speculation, manipulation etc. ¤ Islamic legal maxims in practice ¤ Application to Islamic banking and finance ¤ Product development issues STRUCTURING ISLAMIC FINANCIAL PRODUCTS : CRITERIA AND TECHNIQUES ¤ Product development and product enhancement ¤ Shariah standards ¤ Application of fatwas in Islamic financial services ¤ Techniques of Law ¤ Shariah compliance check list and other relevant factors ¤ Creation of template for Islamic product development
Day 2: Structuring Islamic financial products: Application & recommendation STRUCTURING SALE BASED (BAY’) PRODUCTS IN ISLAMIC FINANCE ¤ Murabahah Financing ¤ Commodity Murabahah ¤ Tawarruq Financing ¤ Murabahah Sukuk ¤ Istisna’ Sukuk ¤ Salam Sukuk STRUCTURING LEASING (IJARAH) PRODUCTS IN ISLAMIC FINANCE ¤ Ijarah Financing Products ¤ Ijarah Mausufah fi Zimmah ¤ Sukuk al Ijarah STRUCTURING PARTNERSHIP PRODUCTS IN ISLAMIC FINANCE
(SHIRKAH)
¤ Musharakah Mutanaqisah Financing ¤ Sukuk Musharakah ¤ Sukuk Mudharabah SUPPORTING CONTRACTS IN ISLAMIC BANKING AND FINANCE ¤ Ar Rahnu ¤ Guarantee/surety (Kafalah) ¤ Transfer of debt (Hiwalah) ¤ Mortgage/charge (Rahn) ¤ Deposit (Wadiah) ¤ Agency (Wakalah) ¤ Commission (Jualah) ¤ Rebate (Ibra’) ¤ Set off (Muqasah)
Islamic Capital Markets A three-day introductory workshop for bankers and financiers wishing to better understand Capital Markets activities and instruments in Islamic finance context.
Objectives This 3-day intensive & comprehensive workshop will be delivered by industry expert that will address all the below issues in detail. The program is conducted in a consultative fashion and all key concepts and structures are illustrated by a case study or an exercise. At various points during the course delegates are expected to work in groups to structure financing solutions for clients, and then present these ideas to the full class.
Who should attend? Corporate Bankers, Treasury specialist, Legal department advisors, Regulators
Day 1
Principles of Islamic Investment for Capital Markets Activities • Discussion of key principles, Fiqh sources • Principles underlying Islamic contracts • Volume & experimentation in the Sukuk market • How do these ideas apply to Sukuk • Shariah Basis of Sukuk • Account ing & A ud i t i n g Or g an i z at i o n f o r Islamic Financial Institutions (AAOIFI), Securities Commission Malaysia & Sukuk
The Contracts of Sale
• Key Islamic banking contracts • Murabahah & Tawarruq • Basic Murabahah Concept and Sukuk • Ijarah
The Contracts of Sale
• Review of key Islamic banking contracts • Salam • Istisna
Importance of the Sukuk Market & Islamic Securitization • What Basel III means for banks • How securitization benefits banks and companies, notably in the emerging Islamic markets • Securitization vsGeneralObligations vs Participations
Day 2
Syndication Management
• Wakalah versus Mudarabah • Fees and roles • Term sheet structure and Shariah compliance
Legal, Tax and Infrastructure Concerns for the Islamic Capital Markets • Offering requirements for placements • Trust and SPV rules, true sale, absence thereof • Regulatoryconsiderationsandregulatorydevelopments and differences from jurisdiction • Role of the ratings agencies
Operational Issues forSukukTransactions • Clearing company needs • Key steps to assure that Sukuk are tradable and eligible for listing • Problems common with clearing and trading • Understanding the Shariah Process
Day 3
Musharakah, Mudarabah & Wakalah Sukuk Models • Documentation requirements • Similarity to a bond? • Issuer, structurer, buyer and regulator issues • Applications to future flows • Applications to revolving securitizations
Future Flow Case Studies
• Analysis of credit impaired sponsor with high quality assets • Future flow components and deal solutions • Interactive exercise to construct the deal
Taking Sukuk to the Market
• Issuance process & key structuring considerations • Documentation requirements • Credit rating, underwriting & distribution • Distribution challenges • Rating sukuk
Risk Management in Islamic Financial Institutions A two-day intensive training for bankers and financiers wishing to better understand risks associated to Islamic finance activity
Objectives
This 3-day intensive & comprehensive course will provide participants with a comprehensive understanding of Islamic risk management and best practice tools to manage these risks.
Who should attend?
Senior/middle management executives of Islamic financial institutions and non-bank financial institutions who are directly or indirectly related to the management of risk within their organizations.
Day 2:
Market Risk
• Financing rate risk • Exchange rate risk • Equity risk
Liquidity Risk
CONTENT Day 1
The Key Risks in Islamic Banking • Credit risk • Market risk • Liquidity risk • Operational risk • Shariah non-compliance risk • Other risks
Credit Risk
• Counterparty risk ¤ Corporate ¤ Retail • Concentration Risk ¤ Name ¤ Industry ¤ Country ¤ Mitigating concentration risk • ‘Macro’ Risk ¤ Asset writing strategy
Case study
• Funding risk • Asset risk
Operational Risk
• Internal fraud • External fraud • Employment practices and workplace safety • Clients, products, & business practice • Damage to physical assets • Business disruption & systems failures • Execution, delivery, & process management
Managing operational risk
• Documented policies and procedures • Ongoing training at different levels • New product & process committee • BCP/DRP
Shariah Non-Compliance Risk • Ensuring Shariah compliance:
Other Risks
• Country risk • Reputational risk • Strategic risk • Political risk
Conclusion
CONTACT US info@amanah-consulting.com +337 14 55 66 77 111, avenue Victor Hugo 75784 Paris cedex 16
www.amanah-consulting.com
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