|
2 Nov 2008: Conference day one
|
8am | Registration & Coffee
|
9am | Chairman’s opening remarks
|
| |
|
9.10am | Keynote Economic Address: The increasingly important role of Islamic finance as a source of global capital and destination for innovative products and structures
- Impact of short term slowdown on the long term sustainability of Islamic financing – Will the market meet the expected USD$2.8 trillion by 2015? What are the key drivers to sustainability?
- Has the impact of the credit crunch dramatically altered the investment trends and movement of funds?
- Predicting the Islamic economy performance in the next 12 months and the next Islamic BRIC
|
| |
|
| The growing importance of Islamic finance fuelled by an escalating global demand for Shari’ah compliant products |
|
9.40am | Capturing the growth opportunities in Islamic funds and assessing how Middle Eastern and Asia institutions are dealing with competition from Western banks launching Islamic products
- Quick take on the current status of the Islamic funds industry: Size, investment strategies and institutional asset allocation
- Examining issues caused by strain of rapid growth in the sector with more than 150 new Shari’ah compliant funds in 2007
- Are the global capital flows affecting investments in local assets?
- Key Islamic funds hubs: Will Saudi Arabia and Malaysia continue to remain dominant over the next 12 months?
|
| | Moderator: Mr Khurram Abdullah, Head of Capital Market Services, Dar Al Sharia (A Dubai Islamic Bank Subsidiary) Mr Nik Norishky Thani, Executive Director, Islamic Finance, Dubai International Financial Centre Authority (DIFCA)
|
10.20am | Central Asia and Gulf Investors
- Accessing Central Asia, world's fastest growing region with enormous natural resources
- Accelerated entrance of Gulf investors in the region
- Untapped market for Islamic finance in Eurasia region with 100 million Muslims
- Attractive investment opportunities across asset classes including private equity and property
|
| |
|
10.40am | Morning refreshments
|
| Market movements and regulatory developments governing Islamic finance |
|
11.10am | Investing in Islamic funds to ride out negative market movements
- Impact of the sub prime crisis and debt crunch on conventional equity markets
- Methodology of stock selection for Shari’ah compliance and impact on the sector and country weights
- Comparative performance of the conventional indices with Islamic indices in the US, Europe and Asia
- Turnover costs associated with Shari’ah investing
- Fundamentals attached to Islamic indices and outlook for the future
|
| | Ms Alka Banerjee, Vice President, Global Index Management - Index Analysis and Management , Standard & Poor's
|
11.40am | Examining recent policy developments and legislative changes for Islamic finance and capital markets on issuers and investors
- Discussing the implications on existing and new Islamic funds issuers and investors
- Achieving transparency in compliance to issuers and protecting investors interest
|
| | Mr Simon Gray, Director, Supervision, Supervision, Dubai Financial Services Authority Mr Bilal Rasul, Director and Registrar, Securities & Exchange Commission of Pakistan Mr Eddie Yoshida, Deputy Director,
Policy and Strategy Coordination Division
Policy and Strategy Department for International Financial Operations, Japan Bank for International Cooperation
|
12.20pm | Shari’ah compliant investment into Japan
- Structuring Shariah compliant investments in Japanese Real Estate
- Structuring Shariah compliant private equity investments in Japan
|
| |
|
12.40pm | Networking lunch sponsored by
|
| Understanding Shari’ah framework and how islamic rules can contribute to the society’s welfare |
|
2pm | The Roots of Islamic Finance: Transforming lives by investing in the real economy
- Principles and objectives of Islamic investment
- How do we measure up? Are we meeting our goals?
- Case study: Africa Invest Malawi video • Faith engagement / faith based investing
- Transformational investing – the risk of not investing
- Food security and poverty alleviation – how investing can transform the lives of million
|
| | Ms Naveen Raza, Business Development Manager, cru Investment Management and Africa Invest
|
2.30pm | The Shari’ah Board Forum: Evaluating the importance of Shari’ah framework so to attract Muslim investors and generate Halal returns
- Understanding Shari’ah compliant conditions and its principles: Ensuring that your products comply with the Shari’ah rules
- Where is the liquidity in a Shari’ah fund?
- Setting the standard on Shari’ah structures: Overcoming the challenges in marrying the strictures of Islamic law with existing investment tactics
- Addressing the shortage of Shari’ah talent within the Islamic banking industry – ensuring the growth of talents keeps up with the booming Islamic sector
|
| | Moderator: Dr Aly Khorshid, Islamic Finance Economist and Shari'ah Scholar, Elite Horizon Economic Consultant Dr Mohd Daud Bakar, Shari'ah Scholar, President, Chief Executive Officer, International Institute of Islamic Finance Dr Azeemuddin Subhani, Shariah Scholar / Advisor, Frontieralt Investment Management & Islamic Finance Advisory Board Dr. Aznan Hasan, Assistant Professor & Sahriah Advisor
Shariah Advisory Council, Shariah Advisory Council, International Islamic University & Bank Negara
|
3.15pm | Speed Networking
|
3.45pm | Afternoon refreshments
|
| Optimal diversification needs to achieving superior returns through latest islamic product innovations |
|
4.15pm | The investment landscape of private equity in the MENA region: Exploring what makes private equity such a dynamic investment and who is driving the growth
- Defining the current state and assessing what venture and buyout investors are looking for in the Middle East
- Discussing how private equity investors can enhance the value of their portfolio companies
- What are the risks of private equity compared to other asset class? How do you define risk when investing in private equity? What are the risk mitigation strategies?
|
| |
|
4.45pm | Alternative investment structures under Shari’ah: Key milestones thus far in building Islamic hedge fund platforms across the Gulf
- Dubai’s success as a center for Islamic financial products
- Highlighting the innovations achieved thus far between Western managers and Dubai
- The opportunity for Islamic asset managers in the context of today’s market
|
| |
|
5.15pm | Tapping into the global growth of ETF investments and assessing why this asset class is becoming attractive to investors
- ETFs: Developed country phenomenon or for all investors? Why no ETFs in GCC/MENA?
- ETFs versus Index Funds: Fundamental differences
- Islamic ETFs versus Conventional ETFs: Fundamental differences
- Islamic ETFs – Threat to Islamic funds?
- Islamic ETFs for addressing short term Islamic needs, equitizing cash, core-satellite strategy, etc.
|
| | Mr Saeid Hamedanchi, President and Chief Executive Officer, Florentez Investment Management (ShariahShares)
|
|
3 Nov 2008: Conference day two
|
9am | Chairman's opening remarks
|
| | Dr Aly Khorshid, Islamic Finance Economist and Shari'ah Scholar, Elite Horizon Economic Consultant
|
9.10am | An insight to the rising profile of business women in Islamic finance
- Liberalisation of gender roles in business: How far are women succeeding in holding the top job in the GCC?
- The contribution women made in the business environment
|
| |
|
| Capital inflows and out of the Middle East – opportunities & challenges for onshore & offshore players |
|
9.40am | Participation of Asia ex-Japan economy through Islamic equity investments
- Evaluating why Asia ex-Japan is attractive for Shari'ah investments
- Why some investors lose money in Asia ex-Japan
- The importance of value investing and a proven investment philosophy - Not fully invested at all times
- Case studies: China, India, Malaysia, Indonesia, Singapore, Philippines, Thailand, Vietnam - Market Index changes vs GDP growth, inflation, interest rate, dividend yield, P/E and P/B
|
| |
|
10.05am | Going beyond the petrodollar shores: What are the best investment opportunities for Middle East capital in Asia and frontier markets?
- Examining how the growth of Asia’s Islamic markets is shaping the global markets
- Outlining key trends that have emerged in the Asian space
- What is Asia’s attraction versus the liquidity of the oil rich states of the Gulf?
- Will Malaysia be the gateway to Asia in attracting the flow of capital from the Gulf?
- Reviewing untapped opportunities in North Africa, Central Asia, Indonesia and Pakistan
|
| | Mr Wassim Slama, Senior Executive Officer,
Head of Institutional Business & Funds Marketing
Middle East and North Africa , KBC Financial Products MENA
|
10.50am | Morning refreshments
|
11.20am | Brand and credibility: Responsibility for investor awareness on international products and funds
- Tailoring a product to match Middle Eastern investors’ exposure and diversification needs
- How will regulatory reforms and developments in the Gulf affect international product makers?
- Evaluating the broadening range of international products to attract Middle Eastern investors
- Will diversification across asset classes be sufficient for savvy Middle Eastern investors?
|
| | Moderator: Mr Wassim Kayata, Executive Vice President for Strategic Planning, Finance House Mr David Scott, Commercial Director, The First Group, TFG Real Estate LLC
|
| Strategies to market and distribute takaful products successfully |
|
12pm | Highlighting the benefits available to various channels of takaful distribution
- Definition of takaful
- Takaful Business Models
- Overview of the takaful Industry
- Challenges and perspective of bancatakaful
|
| |
|
12.30pm | Examining Shari’ah framework and the implications on takaful products
- What are the challenges faced by a conventional insurance company in launching Shari’ah compliant products?
- Is takaful window’s implementation resolving the issue of Shari’ah compliancy?
- Outlining issues that may arise from the structure
|
| |
|
1pm | Matching liquidity with opportunities: Regional and global
market opportunities for Islamic insurance products
- Assessing current key trends shaping the Middle East insurance markets - How has the takaful industry grown and evolved?
- Uncovering the challenges and benefits of incorporating takaful into the portfolio
- Predicting the prospects and returns of Islamic insurances
- Reviewing the regional and global reinsurance and retakaful landscape
- Expanding takaful and capitalise on the opportunities in Saudi Arabia, India, China and UK
|
| | Mr Ajmal Bhatty, Chief Executive Officer, Takaful , Tokio Marine Middle East Ltd
|
1.30pm | Networking lunch
|
| The evolution of sukuks in the Islamic landscape |
|
2.30pm | Sukuk creation: Crafting best practices in structuring sukuks and reviewing key issues pertinent to capital raising efforts
- Summarising taxation, rating and compliance considerations
- Addressing the importance and implications of credit ratings
- Establishing uniform ratings to facilitate international investors’ comfort and ease
- Understanding the trends, risks and challenges in structuring a sukuk
- Harnessing the need to achieve greater legal and regulatory clarity for further growth in securitisation and more sophisticated financing tools
|
| |
|
3pm | U turn
|
3.30pm | Afternoon refreshments
|
| Developing winning asset allocation strategies and building a sophisticated Islamic portfolio |
|
4pm | Islamic finance is one of the most exciting and lucrative financial product at the moment: Diversify High Net Worth portfolios through Islamic funds allocation
- Assessing what HNW are investing in now and the role of Islamic funds in their portfolio
- Achieving client objectives through Islamic funds within a holistic financial planning context
- Strategies in meeting liquidity requirements efficiently while maximising returns
- Reviewing regulatory issues and industry responses when incorporating Islamic funds into HNW portfolio
|
| | Moderator: Dr. Aznan Hasan, Assistant Professor & Sahriah Advisor
Shariah Advisory Council, Shariah Advisory Council, International Islamic University & Bank Negara Mr Rehan Syed, Head of Portfolio Management, ABN Amro Private Banking
|
4.45pm | Building a competitive edge: Achieving your financial objectives by adopting Islamic funds and constructing the ultimate Islamic portfolio
- Establishing innovative asset allocation and portfolio construction practices to meet optimal diversification needs
- Comparing the advantages and disadvantages of adopting Islamic funds and conventional funds
- How to achieve best performance in a Islamic portfolio while maintaining low cost
- Identifying costly mistakes that can happen and outlining measures to avoid them
|
| | Mr Khalid Yousaf, Vice President, Investments and Capital Markets, Siraj Capital
|
5.30pm | Close of conference
|
|
4 Nov 2008: Post conference masterclass A
|
| Converting a Traditional Fund into a Shari'ah Fund |
|
9am | Registration begins at 8.00am with the masterclass commencing at 9.00am and ending at 5.00pm. Refreshments and lunch will be served at appropriate breaks.
This in-depth course will enable participants to understand the requirements for converting a traditional fund into a Shari’ah fund.
We will be looking at the Shari’ah requirements and standards for funds and examining the fund conversion process.
Topics:
- Review of Traditional Fund Characteristics
- Fund Convertibility – Traditional to Shari’ah:
- Shari’ah Non-Convertible Funds
- Shari’ah Convertible Funds
- Local Financial Jurisdiction Regulatory Requirements
- Shari’ah Requirements: Shari’ah-Compliant Fund, or Shari’ah-Based Fund
- Shari’ah Standards for Funds: AAOIFI Standards, and Malaysian Standards
- Accounting, Auditing & Governance Standards for Funds - AAOIFI
- Fund Conversion Process:
- Legal Requirements:
- Shari’ah Fund Prospectus: Islamic Investment Objectives, Methodologies, Shari’ah Monitoring Mechanism, and Shari’ah Audit and Reporting
- Business Requirements:
- Subscription to Islamic Indexes, and Appointment of Shari’ah Board/Shari’ah Advisor
- Operational Requirements:
- Portfolio Purification through Shari’ah Screening:
- Business Screens: Prohibited Products, Prohibited Services, and Prohibited Business Methods – interest (riba); speculation (gharar); gambling (maysir)
- Financial Screens: Liquidity Ratios, Debt Ratios, and Income Ratios
- Interim Tolerance Limits for Non-Compliant Elements in Products/ Services / Business Methods
- Final Purging of Non-Compliant Elements through Charity:
- Determination of Charity Rate
- Determination and Disposition of Charity Amount
|
| | Dr Azeemuddin Subhani, Shariah Scholar / Advisor, Frontieralt Investment Management & Islamic Finance Advisory Board
|
|
4 Nov 2008: Post conference masterclass B
|
|
|
| Structuring a Shari’ah compliant alternative fund |
|
9am | Registration begins at 8.00am with the masterclass commencing at 9.00am and ending at 5.00pm. Refreshments and lunch will be served at appropriate breaks.
This course promises to deliver a comprehensive guide to structuring a Shari’ah compliant fund. It aims to provide a fundamental understanding of the Shari’ah rules and an in-depth knowledge of various approaches on structuring an Islamic fund. An evaluation will be made on the trends in the Islamic funds market together with real case studies to present a diverse view. Interactive Q & A sessions and group discussions offer participants the opportunity to demonstrate their understanding. It is critical that managers understand the fundamentals and approaches of structuring a Shari’ah complaint fund.
Objective:
Participants will gain an in-depth understanding of how to structure a successful Shari’ah complaint product which satisfies the diversification needs of investors. Furthermore, the participants will understand and be able to use a methodology and process designed for product innovation.
Some topics include:
Introductory Session in Islamic Fund Management
- Conventional Fund Management
- Islamic Fund Management
- Shariah Scholars
- Compliant Asset Classes
- Islamic Equity Management Process
- Alternatives to identify Shariah-compliant Investments
Shariah Screening and Purification in Depth
- Introduction to Shariah Screening Principles
- Shariah Screening Norms in the Industry
- Standardized Shariah Screening Norms
- Innovative Strategies and new Paradigms for Shariah Screening
- Automated versus Research-based Shariah Screening
- Different Purification Methodologies
- Purification calculation (Dividends, Capital Gains and Investment purification)
Practical Shariah Screening
- Case Study: Shariah Screening
- Analysis
- Shariah Screening using Excel
- Fundamental Analysis
- Problems in Screening
- Use of Shariah Screening System
|
| |
|
Alka Banerjee
