STRUCTURING INNOVATIVE ISLAMIC FINANCIAL PRODUCTS

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
Friday 14th – Sunday 16th June 2013
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 the 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 the challenges of real-life practical tasks such as
product design and development as faced by industry practitioners.
• Firstly, there will be a critical evaluation of
existing Shari'ah compliant products, in
particular by identifying the various Islamic
the development and amendment of these
products over time, and analysing how robust
and sound these innovations have been.
• Secondly, a detailed exploration will be
carried out on how to innovate in line with the
fundamentals of the 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 the
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
EDUCATION, LEARNING AND DEVELOPMENT
7 Hampstead Gate, 1A Frognal, London NW3 6AL, United Kingdom
Telephone: +44(0)207 433 0840 Fax: +44(0)207 433 0849
Page 1 of 5

7TH ANNUAL THREE-DAY WORKSHOP STRUCTURING INNOVATIVE ISLAMIC FINANCIAL PRODUCTS
Friday 14th – Sunday 16th June 2013
Venue : Ernst & Young LLP, 1 More London Place, London, SE1 2AF, UK
About the Workshop (more)
There has been much criticism of the existing conventional banking industry especially in recent years
speculation, gambling and excessive risk-taking.
and transactions requiring to be morally oriented based on certain moral values that cannot be changed
and are universally applicable. The key to the growth of IFI globally has been the increasing use of innovation.
However, many argue that the innovations used so far in the IFI have focused on synthetic form and a
"copy-paste from the conventional” methodology and do not appear to have paid particular attention to the
Shari'ah objectives.
While innovation is undoubtedly essential, it must be sound, robust, and in line with the key
requirements and spirit of Shari'ah objectives related to ethics and morality.
In this workshop, the wide range of industry products (retail, corporate and investment banking) will be
considered within the overall context of industry 'best practice' and Shari'ah objectives based on ethics
and morality. The importance and relevance of the various infrastructure and support systems (regulatory,
governance, accounting, taxation, legal, etc) will also be understood within the overall context of
Shari'ah-permissible innovation and product development: Shari’ah based or Shari’ah compliant.
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, SNR Denton, UK
Dr. Asyraf Wajdi Dato' Dusuki
Assco. Prof and Head of Research Affairs, ISRA, Malaysia
Professor Habib Ahmed (To be confirmed)
Shariah Chair, University of Durham
Iqbal Asaria
Associate IIBI, Lectures regularly on Islamic Finance
Michael Mcmillen (To be confirmed)
Partner, Curtis, Mallet-Provost, Cott & Mosley, US Law Firm
2012 Participants
Shaikh Mudassar Siddiqui (To be confirmed)
Shari’ah Scholar and Attorney
Khairul Nizam
Deputy Secretary General, AAOIFI
Mufti Abdul Kadir Barkatullah
UK based Shari’ah Scholar
2012- Workshop session
Page 2 of 5
Hikmah: wisdom, meaning the underlying wisdom for
establishing justice “IIBI through reserves the goals the right and to objectives amend/change of the the
Shari’ah & well-being of programme society. It represents without prior ‘Knowledge notice”
of
the truth, acting upon it, correctness in speech and action.’
Hikmah: wisdom, meaning the underlying wisdom for establishing
justice through the goals and objectives of the Shari’ah so that
universal principles, reason and knowledge prevail to determine
one's actions and the well-being of society. It represents ‘Knowledge
of the truth, acting upon it, correctness in speech and action.’

7TH ANNUAL THREE-DAY WORKSHOP
Friday 14th – Sunday 16th June 2013
STRUCTURING INNOVATIVE ISLAMIC FINANCIAL PRODUCTS
Venue : Ernst & Young LLP, 1 More London Place, London, SE1 2AF, UK
Programme Outline
Day 1 - Friday, 14th June 2013
INTRODUCTION:
KEYNOTE ADDRESS: Iqbal Khan, CEO, Fajr Capital, U.A.E (To be confirmed)
SESSION 1.................. Overview of AAOIFI Standards
SESSION 2..................
Defining the context: Revisiting the value proposition of Islamic Finance
Understanding ‘Best Practice’ as per current industry norms
SESSION 3..................
SESSION 4..................
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
Day 2 - Saturday, 15th June 2013
- 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
SESSION 6..................
Understanding the “Product Development Cycle” in Islamic Finance
Challenges in bridging the gap between theory and practice
SESSION 7.................. Innovations in Shari’ah compliant product structuring – 3
Sukuk and Syndicated Islamic Finance: New developments and evolving structures
Selected case studies
SESSION 8..................
Innovations and progress in Takaful
Analysing developments in Mudaraba, Wakala, Hybrid and Waqf Models -
Key issues and challenges
SESSION 9..................
Introduction to Islamic investment banking
and corporate products
Understanding how Shari’ah-compliant
Derivative Contracts work
A critical examination
- Hedging
- Swaps,
- Options
SESSION 10................
SESSION 11................
Shari’ah-legal challenges in Sukuk
Market evolution and new challenges
Exercise 2: Structuring sukuk
Group Activity
Page 3 of 5
Hikmah: wisdom, meaning the underlying wisdom for
establishing justice “IIBI through reserves the goals the right and to objectives amend/change of the the
Shari’ah & well-being of programme society. It represents without prior ‘Knowledge notice” of
the truth, acting upon it, correctness in speech and action.’

7TH ANNUAL THREE-DAY WORKSHOP STRUCTURING INNOVATIVE ISLAMIC FINANCIAL PRODUCTS
Friday 14th – Sunday 16th June 2013
Venue : Ernst & Young LLP, 1 More London Place, London, SE1 2AF, UK
Programme Outline
Day 3 - Sunday, 16th June 2013
SESSION 12................ Revisiting Innovation and Product Development: The fundamental role of Shari’ah
Objectives as rooted in ethics and morality
Reviewing the concept of ‘Best Practice’
SESSION 13................ Innovations in Structuring Shari’ah Products
A Redefined Approach – 1
Murabaha
Istisna’a
Salam
SESSION 14................ Innovations in Structuring Shari’ah Products
A Redefined Approach – 2
Ijarah
Musharakah
Mudarabah
SESSION 15................ Exercise 3: Product development
Group Activity
SESSION 16................. Panel Discussion
Staying true to the Shari’ah values – the numerous challenges
Is it possible to add substance to the existing form-based industry template?
CLOSING ADDRESS AND AWARD OF CERTIFICATE
2009 Training Session 2010 Training Session
2011 Training Session
Hikmah: wisdom, wisdom, meaning the meaning underlying wisdom the underlying for establishing wisdom for
justice establishing through the goals justice and “IIBI objectives through reserves of the the Shari’ah goals the so right that and to objectives amend/change of the the
universal principles, reason and knowledge prevail to determine
one's Shari’ah actions and & well-being the of of society.
programme society. It represents It represents ‘Knowledge
without prior ‘Knowledge notice”
of
of the truth, acting acting upon it, upon correctness it, correctness in speech and action.’ in speech and action.’
Page 4 of 5

7TH ANNUAL THREE-DAY WORKSHOP
Friday 14th – Sunday 16th June 2013
STRUCTURING INNOVATIVE ISLAMIC FINANCIAL PRODUCTS
Venue : Ernst & Young LLP, 1 More London Place, London, SE1 2AF, UK
Institute of Islamic Banking and Insurance
The Institute of Islamic Banking and Insurance (IIBI) is a
registered charity dedicated solely to the learning and
development of individuals and giving them the 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 the following address
Mr. Farhan Rafiq Quadri, IIBI
7 Hampstead Gate, 1A Frognal, London, NW3 6AL, UK
Email: farhan.quadri@islamic-banking.com
Te l . +44(0)20 7433 0840 Fax +44(0)20 7433 0849
Personal Particulars
Name: Mr/Mrs/Ms/other (please specify)
Designation:
Company Name:
Address:
Register
Online
Ernst & Young is a global leader in assurance, tax,
transactions and advisory services.
Tel:
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Workshop Fee ( Without accomodation )
Delegate Fee ............
£1,090
Supporting Organisations
Group Discount
For 3 or more persons, contact IIBI
Hotel Accommodation
For help with hotel accommodation, contact IIBI
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 the industry.
ISRA - International Shari’ah Research Academy for Islamic Finance is
dedicated to promoting applied research in the area of Shari’ah and
Islamic finance.
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 the following account:
Bank Name: Lloyds TSB Plc
Account Name: Institute of Islamic Banking and Insurance
Account No.: 01099227
Sort code: 30-94-81
Please debit the sum of GB pounds ___________ for workshop
fee to my credit card O Master O Visa O American Express
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Cancellation and Refund of Fee
In case of cancellation of registration, registration fee will be
refunded after deduction of £190.00 not less then three weeks
prior to the date of the workshop