SEMINAR ON:
SUKUK DYNAMICS FOR FINANCIAL AND ECONOMIC DEVELOPMENTS
Organized by:
International Shari’ah Research Academy for Islamic Finance (ISRA),
Kuala Lumpur, Malaysia
CentreforExcellence in Islamic Finance, Institute of Management Sciences (CEIF IMSciences), Peshawar, Pakistan
Net Hosting By:
CEIF IMSciences, Peshawar Pakistan,
through Higher Education Commission, Islamabad Pakistan
Venue:
INCEIF Auditorium, Kuala Lumpur
Date:
Wednesday, 27 April 2016

OVERVIEW

After more than a decade of global issuances,sukuk have gained worldwide acceptance as a favourableShariah-based mode of financingto provide funding for government-backed projects and the expansion of corporate projects.A recent development is small-denomination sukukthat encourage the general public to save and invest. Many sukuk types have emerged, mostly conforming to the Shariah, with some needingmodification to meet Shariah requirements. Pricing is an interesting feature of sukuk, Involving one meeting after another and road shows to finally shape up, and needing tosatisfy the lawyers, credit rating agencies, investors and, of course, the originators.

Sukuk have been praised and criticized and have received flak in the media, too, as different stakeholders’ interests are tied to them.There are a number of very active regions of sukuk activity worldwide, from Malaysia to the Middle East, Pakistan, Indonesia and other Muslim countries,as well some non-Muslim countries. Turkey and African countries have also joined the network, attracting the market for sukuk for large-scale projects.

SEMINAR OBJECTIVES

The main objective of the seminar is tobring together experts in the field of sukukfrom both Pakistan and Malaysia in orderto familiarize the audience with sukukintricacies by providing an understanding of current issuesthat are shaping them.Key factors are the guidelines of AAOIFI’sShariah standards, regional or country-specific legal requirements, and competition for attracting local and global investors’ money, along with the originators’ requirements and limitations.The presenters have selected case studies ofa variety of sukuk, both from Pakistan and Malaysia, in order to enable a better understanding of the sukuk contracts themselves, in a rare seminar jointly organized by ISRA Malaysia and CEIF IMSciences, Pakistan, here in Kuala Lumpur.

Based on the case study approach, the seminar focuses on selectedsukuk cases, delving into their dynamics and throwing light on the intricacies of the voluminous sukuk prospectuses, ranging from 100 to more than 200 pages oflegal text.The seminar presenters are learned professionals whohave spent many years doing extensive research on sukuk and gaining experience in shaping them. They have extensive grounding in the Shariah as well as regulatory environments and Islamic business finance.This is an opportunity to understandsukuk dynamics, made easier by the interactive nature of the seminar and by the materials provided. By interacting with industry experts, participants are expected to gain insight into the impact of sukukon investment and business.

TENTATIVE PROGRAMS

Time / Agenda
9.00 – 9.30 / Welcome address by ISRA Representative
IM Sciences-CEIF Vision for Islamic Finance By Dr. Muhammad Mohsin Khan
MOU Signing between ISRA & IMSciences
Group Picture
9.30– 10.15 / Introduction to the World of Sukuk and Its Latest Developments
-Global& Malaysian Market
Dr. M. AkramLalDin (CEO-ISRA Representative)
-Pakistani Market
Dr. Zohra Jabeen (CEIF-IMSciences Representative)
10.15 – 11.00 / Sukuk Structures and Underlying Projects: The Government and Autonomous Bodies Developmental Projects - Case Studies
(Dr. Zohra Jabeen)
11.00 – 11.15 / Tea Break
11.15 – 12.00 / Sukuk Structures: Influence of Investors' Demands and Projects’ Requirements- Case Studies
(Dr. Zohra Jabeen)
12.00 – 1.00 / Legal &ShariahIssues Underlying Sukuk Structures - Case Studies
(ISRA Representative & Dr. Zohra Jabeen, CEIF IMSciences)
1.00 / Lunch and Disperse