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Monday 2 March 2009 - Sukuk Summit Day
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8.30am | Registration & refreshments
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9am | Chairman's opening address
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| UNDERSTANDING THE ROLE AND STRUCTURE OF SUKUKS IN TODAY'S INVESTMENT CLIMATE |
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9.15am | Keynote Address: Sukuk issuance as an initial foray into the Islamic Investments market
- Examining the growth prospects for the Islamic Investments market
- Understanding the importance of introducing the sukuk in the market
- Outlining the governmental initiatives in laying business friendly infrastructures for structuring and distributing of Islamic products
- Enhancing collaboration of Asian Islamic and non Islamic markets in creating regional Islamic market
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9.45am | Panel: Recognising the role and potential of sukuks as an important asset class in capital raising
- Highlighting the opportunities created by sukuk issuances in satisfying the increasing demands from Muslim countries and other jurisdictions
- Defining the long and short term sustainability of sukuk in the development of the Islamic Finance market
- Examining the benefits of diversifying investment portfolios using sukuk and increasing portfolio size of tradable instruments with fixed income profile
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| | Mr Muzaffar Hisham, Deputy Chief Executive Officer, CIMB (Commerce International Merchant Bankers Berhad) Moderator: Atty Francisco Lim, President, Chief Executive Officer and Director, Philippine Stock Exchange
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10.30am | Networking refreshments
Hosted by
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11am | Sukuk Issuers case study: Highlighting concerns and defining strategies for overcoming challenges faced by an issuer
- Assessing the financial conditions and market demand in a successful issuance
- Weighing the implications of sukuk tenures in attracting a diversified investor base
- Developing marketing strategies essential to sukuk value creation for emerging markets
- Partnering with sovereign entities to raise the profile of the issuance
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| FINANCING THE DEVELOPMENT OF PROJECTS AND BUSINESS EXPANSION |
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11.30am | Oiling the wheels of cross-border Islamic finance transactions
- Realizing how companies can benefit from structuring Islamic Financing activities via offshore jurisdictions
- Outlining how the developments of a customized Islamic finance regulatory environment can benefit issuers and investors
- Recognizing the effective initiatives in building an offshore Islamic financial center
- Case studies: examples of Islamic transactions utilising Labuan IBFC
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11.50am | Sukuk Issuers panel: Choosing appropriate sukuk structures for issuances by understanding its objectives, costs and risk implications
- The basic issuance: understanding the requirements of the Ijarah or Musharakah
- Examining the use of different suskuk structures in fulfilling the different fund requirement
- Forming strategic partnerships to take advantage of tax treatments for issuance
- Using the underlying asset to decrease risk and increase competitiveness of sukuks
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| | Mr Mohamed Ariff, Vice President of Capital Markets, Maybank Investment Bank Berhad
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12.30pm | Networking lunch
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| STRUCTURING SUKUKS WITHIN THE SHARI'AH COMPLIANCE AND ACCOUNTING STANDARDS |
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1.30pm | Shari'ah Scholars' panel: Discussing the approach to clarifying the controversial concepts of Shari'ah compliance
- Understanding the implications of the Quran's basic concepts on Shari'ah interpretation
- Examining degrees of Shari'ah compliance in sukuk issuances
- Latest developments on the basis of Shari'ah compliance from the scholars
- Highlighting how sukuk structures evolve fom the scholars' interpretations
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| | Moderator: Mr Ariff Sultan, Business Development Director, Dow Jones AER Company Inc
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2.15pm | Reviewing the implications of changes in accounting and financial reporting on sukuk issuances
- Choosing the best accounting standard for your target market
- How accounting and financial reporting issues limit or expand sukuk distribution
- Evaluating the classifications of investment, recognition, measurement and disclosure requirements
- How the accounting and financial issues reflect in the records of Shari'ah compliant transactions
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2.45pm | Networking refreshments
Hosted by
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| ADDING VALUE TO A SUKUK ISSUE BY LAUNCHING A CROSS BORDER SUKUK |
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3.15pm | Establishing risk management guidelines in an emerging market
- Anticipating the outlook of the sukuk market in emerging markets in the next 5 years
- Evaluating the practical implementations of risk management in a financial institution in an emerging market
- Analysing the challenges and obstacles for the smoother implementation of risk management for a company based in an emerging market
- Gaining insight on how companies can overcome risk in a bureaucratic environment
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3.45pm | Panel: Uncovering the potential and key drivers in driving the growth of the Asian sukuk market
- Development of the Malaysian sukuk market and the role of regulators in building a supportive infrastructure
- Understanding and overcoming major impediment to growth in an Asian sukuk centre
- Exploring the potentials of Singapore, Hong Kong and Indonesia as a stable market for corporate sukuks
- Highlighting the key drivers for preparing the market and the corporate institutions in issuing and trading sukuks
- The importance of cross-border cooperation in hastening the growth of sukuk
- Enhancing the depth and breadth of the Asian sukuk market - the case for a regional sukuk market and the roadmap towards one
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| | Ms Azleena Idris, Deputy Director, Islamic Banking and Takaful Department, Bank Negara Malaysia
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4.15pm | Chairman's closing remarks
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4.30pm | Close of Sukuk Summit day
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Tuesday 3 March 2009 - Conference Day 1
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8am | Registration and breakfast
Hosted by
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9am | Chairman's opening remarks
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| | Mr Mohamed Ariff, Vice President of Capital Markets, Maybank Investment Bank Berhad
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| HIGHLIGHTING THE KEY DRIVERS OF GROWTH OF THE ASIAN ISLAMIC INVESTMENTS INDUSTRY |
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9.15am | Keynote address: Outlining economic trends, developments and prospects in the Asian Islamic investments industry
- Reviewing and forecasting the region’s economic outlook and implications of the global capital markets environment on Asia
- Outlining how growth in the global Islamic investments industry is propelling the growth in Asia
- Distinguishing the future shape and consistency of the market set-up – products, players, and institutions in Asia
- Analysing if Islamic Investments will outperform conventional products. Is this an opportunity for the Islamic industry to fill the current liquidity gap?
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9.45am | CXO panel: Examining how Asian institutions can capitalise on the growing pool of investors looking to increase allocation into Asian Islamic investments
- Determining the regional growth prospects driven by an increase in asset allocation from the Middle East
- Identifying other sources of funding contributing to the expansion of the Islamic investments industry in Asia
- Discovering benefits of diversifying into Asia’s Islamic products to achieve superior returns
- Overcoming barriers and formulating market entry strategy to investing in frontier and emerging markets
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10.30am | Networking refreshments
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| IMPLEMENTING A CROSS-BORDER STRUCTURE WITHIN A SHARI'AH FRAMEWORK |
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11am | Keynote: Special Address by Hong Kong Securities and Futures Commission
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| | Ms Alice Law, Senior Director of Policy, China and Investment Products, Hong Kong Securities and Futures Commission
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11.20am | HK-DFSA Interview: Establishing seamless cross border transactions between Middle East and Asia
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| | Mr Simon Gray, Director, Supervision, Supervision, Dubai Financial Services Authority Ms Alice Law, Senior Director of Policy, China and Investment Products, Hong Kong Securities and Futures Commission Moderator: Ms Y-Sing Liau, Deputy Bureau Chief & Islamic Finance Correspondent, Thomson Reuters
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11.50am | Securities Exchange panel: Cross border listing of investments: streamlining procedures to attract further Islamic investments into Asia
- Eradicating layers of tax structures and documentation procedures to smoothen issuance and the buy/sell processes
- Pinpointing strategic liberalization policies in boosting Islamic investments in Asia
- Identifying areas where regulators can coordinate to ease cross border transactions
- Is it possible to synchronise different Shari'ah standards to achieve better consistency and liquidity?
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| | Atty Francisco Lim, President, Chief Executive Officer and Director, Philippine Stock Exchange Dr. Santi Kiranand, Senior Vice President of Market Development and Information Services, Stock Exchange of Thailand Moderator: Mr Etsuaki Yoshida, Deputy Director of Policy and Strategy Coordination Division, Japan Bank for International Cooperation
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12.20pm | Shari'ah scholar's panel: Establishing the importance of creating a consistent Shari'ah framework in facilitating trade in Asian's capital markets
- Examining ways to align differences in Shari'ah scholars’ opinion in interpreting Shari'ah guidelines
- Emphasising the best practices to improve transparency and foster credibility
- Exploring major areas where regulators and industry players can collaborate to create a harmonised Asian market
- Can we create a vanilla based offering that will fit all standards in any market?
- What is the recommended way of governing the Islamic investments sector moving forward?
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| | Dr Mohd Daud Bakar, President and Chief Executive Officer, International Institute of Islamic Finance Moderator: Mr Ariff Sultan, Business Development Director, Dow Jones AER Company Inc
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1pm | Lunch & networking break
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| STRUCTURING ISLAMIC PRODUCTS WITHIN THE SHARI'AH FRAMEWORK |
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2pm | Applying globally acceptable Shari'ah standards across markets
- Potential shortfalls in conventional products offered in markets covered by Islamic investments
- Developing mechanisms for the smooth entry of Islamic products to market
- Institutionalising common Shari'ah practices across markets as major pillars to develop local Islamic investing
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2.30pm | Highlighting the implications of the 'fair value' guideline on Islamic market practice
- What constitutes as an ownership to purchase undertaking?
- Uncovering new liquidity facilities that smoothen periodical profits
- Reviewing auditing standards that make products acceptable in more accounting records
- Discovering how Shari'ah risk and Shari'ah audit is implemented in an Islamic investment scenario
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3pm | Applying the IFSB Basel II framework to ensure a bank's capital adequacy
- Grounding effective risk management in sound corporate governance and enhanced financial disclosure
- Using the comprehensive stress test to capture the effects of a downturn on market and credit risks
- Providing clearer industry benchmarks through the exposure draft on transparency
- Determining the best risk management approach by enhancing qualitative disclosures
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| | Mr Simon Gray, Director, Supervision, Supervision, Dubai Financial Services Authority
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3.30pm | Speed networking
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4pm | Networking refreshments
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| ALLOCATING CAPITAL AND SELECTING THE BEST MODES OF HIGH-YIELD INVESTMENT |
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4.30pm | Analysing key issues on capital raising and maintaining portfolio liquidity
- Accessing western capital through intermediary distributions
- Entering into joint ventures and mergers and acquisitions for a consolidated funding effort
- Examining the benefi ts and drawbacks of financing through Islamic securitisation
- Minimising expenses by assessing the risks of externalisation and costs of internalisation
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4.59pm | Round Table Discussions: Challenges in Islamic Investments
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5pm | Roundtable 1: Islamic Funds Rate - how to rank funds according to risk adjusted performance
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5pm | Roundtable 2: How to bring Islamic investments to the attention of conventional investors
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5pm | Roundtable 3: Using positive screens to build bridges for Islamic investments
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5pm | Roundtable 4: Education and awareness for Islamic investments - where are the assets under management
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5pm | Roundtable 5: Fixed deposits as investment
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5.30pm | Chairman's closing remarks for Day One
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| | Mr Mohamed Ariff, Vice President of Capital Markets, Maybank Investment Bank Berhad
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Wednesday 4 March 2009 - Conference Day 2
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8.30am | Breakfast
Hosted by
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9am | Chairman's opening remarks
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| CAPITALISING ON UNIQUE EXPERIENCES IN GLOBAL AND EMERGING MARKETS |
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9.15am | Keynote panel: Discovering the potential of Asian markets as a distribution hub for Islamic investments
- Cashing in on the asset allocation transfers from the Middle East to Asia. Why is Asia the current flavour now?
- Reviewing the liquidity potentials of existing product offerings in the region
- An overview of the innovative products that will be entering the market
- How well are these Asian products measuring up in risk adjusted returns within uncertainties in the global capital markets?
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10am | Panel: Determining the best strategy for launching an Islamic fund in Asia
- Examining the challenges in structuring products that balance the integrity of Islamic principles and market opportunities
- Identifying and capitalising on your competitive advantage and differentiation from the marketplace
- Dealing with operations, due diligence and marketing issues in launching and managing a fund
- Outlining effective ways to work with distribution partners in marketing the fund
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| | Moderator: Mr Mark Watts, Head of Asset Management, European Finance House
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10.45am | Networking refreshments
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| ISLAMIC INVESTMENTS MARKETING AND DISTRIBUTION CHANNELS IN ASIA |
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11.15am | Special feature: Outlining the guidelines for Islamic Securities Market in Indonesia
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| | Mr M.S. Sembiring , Director of Equities Trading, Research and Development , PT. Bursa Efek Indonesia/ Indonesia Stock Exchange
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11.45am | The Next Generation of Islamic Investment Strategies: Presenting the evolution of Islamic Investment Strategies/Products to highlight the areas in which further progress needs to be made
- Discussing the issues pertaining to the development of Islamic Investment Strategies/Products from a underlying access and trading perspective
- Highlighting investment techniques that can be used to generate absolute or enhanced-beta returns
- Expanding risk management overlays that can be applied to enhance the risk/reward profiles of Islamic Investment Strategies
- Summarising the key initiatives that need to be taken to move closer to Shariah-based, rather than Shariah-compliant, solutions
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12.15pm | Networking lunch
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| OVERCOMING CHALLENGES AND DEVISING STRATEGIES TO ENTICE GULF INVESTORS IN ALLOCATING TO ASIA |
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1.30pm | Alternative Asset Classes Showcase: Examining the benefits of alternative investment products of Shari'ah investment portfolios
- Examining the benefits of alternative investment products for Shari'ah investment portfolios
- Addressing the challenges of creating “rigorous” Shari'ah compliant investments
- Choosing a tailored alternative asset allocation strategy to diversify your portfolio and achieve an optimal risk and return solution
- Choosing markets as a new platform for distributors and asset allocators
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2pm | Recognizing Islamic REITS as an investment vehicle during difficult times
- Highlighting the characteristics of Islamic REITs listed on Bursa Malaysia Berhad to identify an easy access to good value properties and sustainable long term investment
- Discovering relatively higher dividend yield in engaging with Shari'ah compliant activities
- Pinpointing a defensive investment strategy that may be incorporated in portfolio construction
- Laying out attributes of the guidelines that promotes transparency in governance to ensure more efficient operations
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2.30pm | Creating Islamic derivative solutions used as a risk management strategy
- Debunking the notion of the illegality by structuring riba-free Islamic derivatives
- Setting a pricing standard to formulate certainty and benchmarks
- Setting time and method of delivery for ribawi and non-ribawi items
- Exploring Islamic solutions to FOREX trading
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| | Dr Mohd Daud Bakar, President and Chief Executive Officer, International Institute of Islamic Finance
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3pm | Afternoon refreshments
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| CREATING A VEHICLE FOR WEALTH PROTECTION THROUGH TAKAFUL AND RETAKAFUL |
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3.30pm | Developing a strong and credible retakaful industry in bracing the takaful industry for greater dynamism and growth
- Creating new products based on potential segments knowledge
- Optimizing the GCC’s booming medical, engineering and property lines by assisting, pricing and writing substantial shares
- Integrating the takaful industry by creating the retrotakaful
- Leveraging on existing consumer bases to launch a retrotakaful syndicate
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4pm | Takaful panel: Capturing the takaful business opportunities in Asia and looking into the massive potentials of the untapped emerging markets
- Servicing demand by combining profi t motives and solidarity concepts
- Developing multi-tiered pricing solutions to cater to different types of investors
- Avoiding losses for the takaful company by understanding the constraints in investment policy and corporate governance issues
- Spreading takaful risk by creating a retakaful product
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| | Mr Pervaiz Ahmed, Director and Chief Executive Officer, Pak-Qatar Family Takaful
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4.45pm | Close of conference
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Alice Law
Dr Mohd Daud Bakar
Vince Cook
MD Noor Rahman
Mohammad Shoaib
