7th Annual Three-Day Workshop STRUCTURING INNOVATIVE ISLAMIC FINANCIAL PRODUCTS

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1 Deal not unjustly, and ye shall not be dealt with unjustly The Holy Qu ran 2:279 7th Annual Three-Day Workshop STRUCTURING INNOVATIVE ISLAMIC FINANCIAL PRODUCTS Hosted By Venue: Ernst & Young LLP, 1 More London Place, London, SE1 2AF, UK WORKSHOP OBJECTIVES provide a commercial value and also comply with Shari'ah requirements Shari'ah principles. In this three-day workshop, a wide-ranging and very detailed analysis innovations that have been employed for development and reshaping of existing Shari'ah-compliant products. There will be three substantive interactive exercises based on group participation and discussion, one on each day, focusing on product structuring to simulate challenges of real-life practical tasks such as product design and development as faced by industry practitioners. Firstly, re will be a critical evaluation of existing Shari'ah compliant products, in particular by identifying various Islamic development and amendment of se products over time, and analysing how robust and sound se innovations have been. Secondly, a detailed exploration will be carried out on how to innovate in line with fundamentals of Shari'ah, in order to understand how to develop Shari'ah-based products that place emphasis on both substance and form and are free of concerns associated with existing products Register Online Who should attend? Supporting Organisations Islamic Financial Industry - in particular product developers, and senior management. An excellent course with a good mix of participants (Nationality, professional background) 2012 Media Partner EDUCATION, LEARNING AND DEVELOPMENT 7 Hampstead Gate, 1A Frognal, London NW3 6AL, United Kingdom Telephone: +44(0) Fax: +44(0) Page 1 of 5

2 7TH ANNUAL THREE-DAY WORKSHOP STRUCTURING INNOVATIVE ISLAMIC FINANCIAL PRODUCTS About Workshop (more) There has been much criticism of existing conventional banking industry especially in recent years speculation, gambling and excessive risk-taking - leading to renewed questions on how to achieve a more equitable and fair economic system. transaction. In practice, IFI has proven to be commercially viable despite need to observe such moral and ethical requirement, growing substantially over last years in particular. The IFI s proponents believe that key to growth of industry has been increasing use of innovation. However, many argue that innovations used so far in IFI have focused on syntic form and a "copy-paste from conventional" methodology and do not appear to have paid particular attention to Shari'ah objectives. While innovation is undoubtedly essential, it must be sound, robust, and in line with key requirements and spirit of Shari'ah objectives related to ethics and morality. In this workshop, wide range of industry products (retail, corporate and investment banking) will be considered within overall context of industry 'best practice' and Shari'ah objectives based on ethics and morality. The importance and relevance of various infrastructure and support systems (regulatory, governance, accounting, taxation, legal, etc) will also be understood within overall context of Shari'ah-permissible innovation and product development, and distinction between Shari ah based versus Shari ah compliant will also be examined in detail. Trainers & Panel Discussion Speakers Dr Salman Khan (Lead Trainer) Head of Shari ah Office at a GCC-Based Islamic Bank, U.A.E Richard De Belder (To be confirmed) Partner, Head of Islamic Finance, Dentons, UK 2012 Participants Matw Sapte (To be confirmed) Partner, Banking and Finance department, Dentons, UK Zahir Rashid Manager, Financial Accounting Advisory Services IF, Ernst & Young, UK Iqbal Asaria Associate IIBI, Lectures regularly on Islamic Finance Mufti Abdul Kadir Barkatullah UK based Shari ah Scholar 2012 Workshop session Hikmah: wisdom, meaning underlying Hikmah: wisdom, meaning underlying wisdom for establishing wisdom for justice through goals and objectives of Shari ah that IIBI reserves so right amend/change establishing justice through goals and to objectives of universal principles, reason and knowledge prevail to determine programme without prior notice of Shari ah & well-being society. It represents Knowledge one's actions and well-being of of society. It represents Knowledge of truth, truth, acting upon it,upon correctness in speech and action. acting it, correctness in speech and action. Page 2 of 5

3 7TH ANNUAL THREE-DAY WORKSHOP STRUCTURING INNOVATIVE ISLAMIC FINANCIAL PRODUCTS Programme Outline Day 1 - Friday, 13th September :00-09:05 INTRODUCTION: 09:05-09:15 KEYNOTE ADDRESS: Richard De Belder Partner, Head of Islamic Finance, Dentons - UK 09:15-09:35 SESSION 1... Overview of AAOIFI Standards 09:35-10:45 SESSION :45-11:00 TEA/COFFEE BREAK Defining context: Revisiting value proposition of Islamic Finance Understanding Best Practice as per current industry norms 11:00-13:00 SESSION :00-14:15 LUNCH/PRAYER BREAK 14:15-16:15 SESSION :15-16:30 TEA/COFFEE BREAK 16:30-17:30 SESSION 5... Innovations in Shari ah-compliant product structuring 1 Murabaha Mudarabah Musharakah Innovations in Shari ah-compliant product structuring 2 Ijarah Istisna a Salam Exercise 1: Product Development Group activity - Real estate - Home finance - Car finance - Trade finance - Home finance - Car finance - Working capital - Construction finance - Working capital - Construction finance - Business projects - Personal finance - Personal finance - Services finance - Ijara Sukuk Day 2 - Saturday, 14th September :00-10:15 SESSION 6... Innovations in Shari ah compliant product structuring 3 Sukuk and Syndicated Islamic Finance: New developments and evolving structures Selected case studies 10:15-11:15 SESSION :15-11:30 TEA/COFFEE BREAK 12:30-13:30 LUNCH/PRAYER BREAK Shari ah-legal challenges in Sukuk Market evolution and new challenges 11:30-12:30 SESSION 8... Exercise 2: Structuring sukuk 13:30-14:45 SESSION 9... Introduction to Shari ah-compliant investment A critical examination banking and corporate products Understanding how Shari ah-compliant Derivative Contracts work - Hedging - Swaps - Options Page 3 of 5 Hikmah: wisdom, meaning underlying wisdom for establishing justice IIBI through reserves goals right and to objectives amend/change of Shari ah & well-being of programme society. It represents without prior Knowledge notice of truth, acting upon it, correctness in speech and action.

4 7TH ANNUAL THREE-DAY WORKSHOP STRUCTURING INNOVATIVE ISLAMIC FINANCIAL PRODUCTS Programme Outline Day 2 - Saturday, 14th September :45-15:45 SESSION Understanding Product Development Cycle in Islamic Finance Challenges in bridging gap between ory and practice 15:45-16:00 TEA/COFFEE BREAK 16:00-17:30 SESSION Innovations and progress in Takaful Analysing developments in Mudaraba, Wakala, Hybrid and Waqf Models - Key issues and challenges Day 3 - Sunday, 15th September :00-10:15 SESSION Revisiting Innovation and Product Development: The fundamental role of Shari ah Objectives as rooted in ethics and morality Reviewing concept of Best Practice 10:15-10:30 TEA/COFFEE BREAK 10:30-12:30 SESSION Innovations in Structuring Shari ah Products A Redefined Approach 1 Murabaha Istisna a Salam 12:30-13:15 LUNCH/PRAYER BREAK 13:15-15:15 SESSION Innovations in Structuring Shari ah Products A Redefined Approach 2 Ijarah Musharakah Mudarabah 15:15 15:30 TEA/COFFEE BREAK 15:30-16:15 SESSION Exercise 3: Product development numerous challenges Group Activity 16:15-17:15 SESSION Panel Discussion Staying true to Shari ah ethical and moral values Is it possible to add substance to existing form-based industry template? 17:15-17:30 CLOSING ADDRESS AND AWARD OF CERTIFICATE Page 4 of 5 Hikmah: wisdom, wisdom, meaning meaning underlying wisdom underlying for establishing wisdom for justice establishing through goals justice and IIBI objectives through reserves of Shari ah goals so right that and to objectives amend/change of universal principles, reason and knowledge prevail to determine one's Shari ah actions and & well-being of of society. programme society. It represents It represents Knowledge without prior Knowledge notice of of truth, acting acting upon it, upon correctness it, correctness in speech and action. in speech and action.

5 7TH ANNUAL THREE-DAY WORKSHOP STRUCTURING INNOVATIVE ISLAMIC FINANCIAL PRODUCTS Institute of Islamic Banking and Insurance The Institute of Islamic Banking and Insurance (IIBI) is a registered charity dedicated solely to learning and development of individuals and giving m very best knowledge and practical understanding in key areas of Islamic finance operations. "There would have been no career in Islamic financial services, for me and many of my friends, without IIBI. Richard Thomas OBE, CEO - Gatehouse Bank, London, UK Hosted By REGISTRATION FORM BY POST : Please complete and send to following address Mr. Farhan Rafiq Quadri, IIBI 7 Hampstead Gate, 1A Frognal, London, NW3 6AL, UK farhan.quadri@islamic-banking.com Te l. +44(0) Fax +44(0) Personal Particulars Name: Mr/Mrs/Ms/or (please specify) Designation: Company Name: Address: Register Online Ernst & Young is a global leader in assurance, tax, transactions and advisory services. Tel: Supporting Organisations AAOIFI - The Accounting and Auditing Organization for Islamic Financial Institutions is an Islamic international autonomous non-for-profit corporate body that prepares accounting, auditing, governance, ethics and Shari'ah standards for Islamic financial institutions and industry. Workshop Fee ( Without accomodation ) Delegate Fee... 1,090 Group Discount For 3 or more persons, contact IIBI Hotel Accommodation For help with hotel accommodation, contact IIBI ISRA - International Shari ah Research Academy for Islamic Finance is dedicated to promoting applied research in area of Shari ah and Islamic finance. CISI - The CISI is largest and most widely respected professional body for those who work in securities and investment industry in UK and in a growing number of major financial centres around world. Media Partner Payment Cheque / bank draft in GB pounds made payable to Institute of Islamic Banking and Insurance (Registration form sent by post) Telegraphic / Wire Transfer to following account: Bank Name: Lloyds TSB Plc Account Name: Institute of Islamic Banking and Insurance Account No.: Sort code: Please debit sum of GB pounds for workshop fee to my credit card O Master O Visa O American Express Card Holder s Name: Card No: Expiry Date: (mm-yy) Total Amount: GB IFIS - Islamic Finance Information Service (IFIS) is premier news, research and data online service designed for Shari ah-compliant financial industry Signature: Date: Page 5 of 5 Cancellation and Refund of Fee In case of cancellation of registration, registration fee will be refunded after deduction of not less n three weeks prior to date of workshop