eduwo091015-islamic finance workshop

8/8/2019 EDUWO091015-Islamic Finance Workshop

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continuing professional education programmes for accounting and finance professionals

A eie kp Accunin an Finance Peina

ein a cmpeenive inucin Iamic Finance, peene e Maaian Iniue Accunan (MIA) in caain i

e Inenaina Cene Eucain in Iamic Finance (INCEIF),

e a univei in Iamic Finance.

PrEsENtEd by IN PArtNErshIP wIth

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day:

toenjoy

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A key priority that Malaysia has accorded in the

development o Islamic fnance is the investment

in the development o talent and expertise.

This is a vital part o the advancement o Islamic

fnance in terms o strengthening its intellectualunderpinnings o its development.

Tan Si D Zti Ata AzizBan Ngaa Maaysia Gn


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introduction

the mia-inceif cpe programmes

on islamic finance

Venue INCEIF.AnnexeBlock,MenaraTunRazak,JalanRajaLaut,KualaLumpur

deliVery methodology

Lectures,casestudies,andsimulations

Who Will Benefit

Financialcontrollers,accountantsandfnancemanagerswhoaredirectlyinvolvedinIslamicfnance

Seniormanagers,managersandcreditofcerswhoaredirectlyinvolvedinIslamicfnance

Lawyersandlegalofcers Academicians

TrainerswhoareinvolvedintheIslamicbankingtrainingprogrammes Otherinterestedparties

executiVe certificate

AnExecutive CertifcateinFundamentalso IslamicFinancewill beawardedtoparticipantswhohavecompletedaminimumothree(3)workshopswithinaone-yearperiod.

To qualiy or this certifcation, it is compulsory or candidates to completeModule1:ShariahAspectsoBusinessandFinance.

ThiscertifcateisendorsedjointlybyINCEIFandMIA.

certificate of attendance

ACertifcateoAttendancewillbeawardedtoparticipantswhohavecompletedone(1)ortwo(2)workshopsonly.

The Islamic banking and fnancial services industry has experienced signifcant development. From being utilised only in

a handul o Muslim-majority countries, the industry has expanded into a viable and vibrant component o the global

fnancial system. In act, Islamic fnance is under the orethought, as Wall Street and the rest o the world witnessed one

o the biggest crises ever to hit the fnancial landscape in recent times. Conventional banks and insurance companiesrom the US and Iceland to Singapore and Thailand are bracing themselves or allouts rom the turmoil.

However, countries with a robust Islamic fnancial services industry are weathering the storm well. Islamic fnance is, in

act, on the cusp o serious expansion. It is g rowing aster than any other subset o the world banking industry at 1520

percent a year, with assets estimated at USD one trillion. However, Islamic fnance currently makes up less than one

percent o world assets, suggesting a huge room or growth.

With its huge potential, the development o talent and expertise in Islamic fnance and banking is necessary to drive

innovation and to raise the perormance o this industry to greater heights. Realising this, Bank Negara Malaysia

established the International Centre or Education in Islamic Finance (INCEIF)the only university dedicated to Islamic

fnancein 2006, representing Malaysias commitment to sustain and support the uture growth o this industry.

Malaysian Institute o Accountants (MIA) recognising the increasing adoption o Islamic fnance across the globe,

believes that Malaysian accountants must take developments in Islamic fnance seriously as it is becoming an important

component within the fnancial services industry. In light o this, MIA has entered into a strategic partnership with

INCEIF to increase the awareness o Islamic fnance amongst the accounting raternity.

This series o fve continuing proessional education (CPE) programmes or accounting and fnance proessionals is

presented here as the frst phase in this strategic partnership.


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revised

date! rev

ised

date!

saia apec uine an fnance cmpie

ee maj pa name Iamic Juipuence, Aui &Cmpiance an te Iamic cnac.

beie iiin e equiemen saia incmmecia anacin, i kp i a cvecaeie saia pincipe venin cmmeciaanacin.

Paicipan i e expe e appicain anmecanim e m ie ue saia pincipeuc a muaaa, muaaa, ai iaman aji /ai muaja, muaaka, aam, iina, ijaa, ai a-ina, aauq, iaa, kaaa, akaa, aia,

ijaa an an.

ti kp i expe paicipan e vaiu

apec Iamic bankin pacice a incue eeua an ea equiemen an Iamic ank peae, puc evepmen an ik manaemen.

oBjectiVes

To provide an overview o Shariah compliance review ramework or Islamic fnancialinstitution.

ToprovideplatormordiscussiononissuesrelatingtoShariahbasedondierentIslamicschoolsothought.

Toreviewwhataretheissue sandchallengesot heimplementation oShariahcomplianceandgovernanceinIslamicfnancialinstitutions.

outline

ioco o shh (ilmc Lw) IntroductiontoIslamicterminologies

PrimarysourcesoShariah SecondarysourcesoShariah RulesandobjectiveoShariah

ilmc Commcl Lw Islamiclegalmaxims Islamiclawopropertyandownership

ilmc Lw o Coc Theory/ormationocontract Perormance,breachandremedies

speakers

aoc. Po. d. Mhmoo Mohm s ProessoroLawandIslamicLaw

oBjectiVes

ToexaminethestructureoIslamicfnancialmarkets,instruments,andinstitutions.

To providesthe participants with anunderstanding othe variousfnancialinstrumentsoeredbyIslamicbankingcompanies,therisksassociatedwithIslamicbankingproducts,andthelegalaspectsoIslamicbankingproducts.

Toprovideparticipantswith theknowledge onhowfnancialtransact ionsareaccountedorandreportedbyIslamicfnancialinstitutionsincludingmudaraba,murabaha,ijara,salam,istisna,bba,zakattakaulandsukuk.Auserviewoaccountingisemphasizedasopposedtoapreparerviewtobeinlinewiththeobjectiveothepaper.

ToalsoprovideareviewopracticesandissuesinshariahreviewandauditinginIslamicFinancialInstitutions.

Toprovide participantsall aspectsomanagingan Islamicfnancialinstitution. Includingorganizational development, customer relationshipmanagement, strategic management,fnancialmanagement,channeldistributionmanagement,andethicalissuesinmanagementinaccordancewithShari'ah.

Toprovide participantswith allaspectso riskto whichIslamic fnancialinstitutionsareexposedto,andocusesonidentiying,measuringandmitigatingriskswithinabankingparadigm.

outline

rglo Lgl rqm IslamicBankingAct 1983,Shariah SupervisoryBoard,Taxation andLegalaspectso

Islamicbankingbusiness,MalaysianIslamicFinancialCentre(MIFC)Initiatives IslamicbankingBalanceSheetandIncomeStatement,KeyIndicators IslamicbankingHistoryandcurrenttrendsandlessonsromSub-primeCrisesandCredit

Crunch

dpo Poc Transactiondeposits Investmentdeposi ts

ilmc fcl m Retai lfnancing Enterprisefnancing

ilmc mgm ConceptoriskinIslam,typeoriskacedbyIslamicbanks CapitalManagementunderBaselIIandIslamicFinancialServicesBoard(IFSB)

speakers

Po. d. sl azh rol ProessoroIslamicEconomics&Banking HeadoIslamicBankingDepartment

module 2

ISlAMIc BANkINGPrAcTIceS

module 1

ShArIAh ASPecTSof BuSINeSS AND fINANce

27 August 2009, Thursday26 August 2009, Wednesday


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ti kp ciica examine e naue an e

Iamic capia make an e ucue capiamake inumen.

tpic incue e iica evepmen Iamiccapia make an i e in ecnmic evepmen,an Iamic capia miizain via evea saiacmpian puc in e equi an e make.

ti kp cve e cncep ea, i

eneain, enancemen an iiuin m cnvenina an Iamic pepecive a pa epcee ea pannin. I i a cve eeai ea acain pcee; ea eneainan enancemen u invemen in ecuiie anea eae; in ea pecin u inuance anakau; in pannin e uue u eae, ax aneiemen pannin an in eae iiuin ui an a ineiance.

te ea amek an iue i a e uup a ueu u e ea panne an

cnuan.

oBjectiVes

ToexaminethestructureoIslamiccapitalmarkets,instruments,andinstitutions.

To providesthe participants with anunderstanding othe variousfnancialinstrumentsoeredbyplayersotheIslamiccapitalmarket,therisksassociatedwith Islamiccapital

marketproducts,andthelegalaspectsosuchproducts. Toprovideparticipantswith theknowledgeon howfnancial transactionsare accountedorandreportedbyplayersintheIslamiccapitalmarket.Auserviewoaccountingisemphasizedasopposedtoapreparerviewtobeinlinewiththeobjectiveothepaper.

ToalsoprovideareviewopracticesandissuesinshariahreviewandauditinginIslamiccapitalmarket.

outline

rglo Lgl rqm SecuritiesCommissionsIslamicCapitalMarketMasterPlan RoleoShariahAdvisoryCouncil TrendsinCapital Market

Cpl Molo v h s M Islamicassetsecuritization SovereignandcorporateSukuk RecentAAOIFIstatementonSukuk

Cpl Molo v ilmc eq Shariahstockscreeningmodels Expectedrateoreturn RoleoCAPMinIslamicequityinvestment ShariahIssuesinshortsellingandderivatives

ilmc eq : tp, sc Pomc IslamicUnitTrust IslamicRealEstateInvestmentFunds IslamicExchangeTradedFund

speakers

Po. d. sl azh rol ProessoroIslamicEconomics&Banking HeadoIslamicBankingDepartment

d. Moh-Pl Zl Lecturer,IslamicBankingDepartment

oBjectiVes

Toexaminethedetailsowealthallocationprocesses.

Toprovideparticipantswithanunderstandingothewealthgenerationandenhancementthroughinvestmentsinsecuritiesandrealestate.

ToprovideparticipantswithanunderstandingothewealthprotectionthroughinsuranceandTakaul.

Toprovideparticipantswithanunder standingintheplanningort heuturethroughe state,taxandretirementplan.

Toexposeparticipantstovariousfnancialinstrumentsoeredbyplayersotheindustry,therisksassociatedwiththemandthelegalaspectsosuchproducts.

Toprovideparticipantswiththeknowledgeonhowthesefnancialtransactionsareaccounted

orandreported.Auserviewoaccountingisemphasizedasopposedtoapreparerviewtobeinlinewiththeobjectiveothepaper.

ToalsoprovideareviewopracticesandissuesinshariahreviewandauditinginIslamicwealthplanning.

outline

Wlh om Covol ilmc Ppcv Conceptowealth;ownership,rightstouseandspending Generation,accumulation,enhancement,purifcationanddistributionowealth DierencesbetweenconventionalandIslamicwealthplanning Investmentchannels Stockscreeningprocess

ic tl schm

RoleoTakaulinwealthplanning FactorsaectingtheneedorTakaul TakaulConceptsandModels InsuranceandTakaulProducts DierencesbetweenInsuranceandTakaullaws

F oo o e Plg SourcesoIslamiclawonestatedistribution E ligibleHeirs Tenets,conditions,impedimentsandexclusions Sharesinestatedistribution

Wlh Pfco ilm Zakat Waqa Voluntarydonations(Sadaqah)

speaker

Po. d d. s Ohm alhh ChieAcademicOfcer&DeanoFaculty HeadoTakaulandWealthPlanningDepartment

module 4

ISlAMIc WeAlThPlANNING

module 3

ISlAMIc cAPITAlMArkeT

15 October 2009, Thursday29 September 2009, Tuesday


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ti kp pvie an uneanin Iamicecnmic cniein e impicain eappicain saia a e ecnmic anfnancia em.

te kp a uie caniae in uneanine cncep, evuin an e cpae venancein a make-ae ecnm, epecia in e cae e Iamic fnancia evice inu.

oBjectiVes

ToprovideparticipantsanoverviewoIslamiceconomybyhighlightingt hedierentwork s

oMuslimscholarsinthefeld.TohighlightontheimportanceoIslamicworldviewtoeconomics.

TocomparetheIslamiceconomicsystemwithothersystems.

ToprovideaclearexplanationabouttheconceptomoneyromIslamicpointoviewandtoexaminethenatureandscopeoIslamiceconomicsanditsrelationshipwithconventionaleconomics.

Toappreciatetheimportanceosel-governancecoupledwithcompliance(Shariahandnon-Shariah),bestpracticesandstrategicalignmenttolongtermshareholdersandinvestorvalue.

outline

ilmc ecoomc ObjectivesoShariahandprovisioningprocess

WorldviewoIslamandtheroleoindividualandcommunityindefningrationality Theroleomarketsandeconomicdecisionmakingassocialconstructs

ehc Govc Islamicethicsandtheroleovicegerency

EthicalprincipleandtheroleoShariah

GovernanceromIslamicperspectives. Theroleosel-governanceoversightandregulationsonmarketeconomies

peaker

Po. d. s al Hm alJProessoroAppliedFinanceHeadoEconomics&GovernanceDepartment

module 5

ISlAMIc ecoNoMIcS,eThIcS AND GoverNANce

speakers profile

PrOFessOr datuk dr. syed OtHMan aLHabsHi

Chie Academic Ofcer & Dean o Faculty Head o Takaul and Wealth Planning Department

Pro.DatukDr.SyedOthmanAlhabshijoinedINCEIFasProessoroIslamicEconomics&EconometricsandHeadoTakaulFacultyinMarch2007.SinceJuly2008,hehasbeenpromotedtothepositionoChieAcademicOfcerandDeanoFaculty,INCEIF.HeholdsaB.Ec(Hons)inStatisticsromUniversityoMalaya,M.S.(Statistics)rom

UniversityoWisconsin,U.S.A.andPh.D.inEconometricsromUniversityoBirmingham,U.K.Since1969,hehasservedinvariousacademiccapacitiesinourpublicuniversitiesinthecountry,namelyUniversityoMalaya,UniversitiKebangsaanMalaysia,InternationalIslamicUniversityMalaysiaandUniversitiUtaraMalaysia.InOctobero1997,heservedastheFoundingPresidentandCEOoUniversitiTunAbdulRazakuntilMarch2005,aterservingInstituteoIslamicUnderstandingMalaysia(IKIM)astheDeputyDirector-Generalrom1992to1997.

HeiscurrentlyamemberotheBoardoDirectorsoEtiqaTakaulBerhad;Pak-KuwaitTakaulPteLtdPakistan;MaybankIslamicBerhad;AsiaUnitTrustBerhad;PrimaPraiSdnBhd.;EpenBinaSdnBhd.;KolejPoly-TechMARASdnBhd.HeisalsoamemberotheCouncilorUniversitiKualaLumpur.HenowsitsonShariahAdvisoryCommitteeorLabuanReinsurance(L)Ltd.;MNRBRetakaulBerhad;MIDFGroupoCompanies;AmanahMutualBerhad(ormerlyknownasMaybankUnitTrustBerhad)andSingaporeUnitTrustsLtd.

Hehasalsobeen appointed asamembero theBoardoTrusteesorYayasanBankRakyat,YayasanWakaMalaysiaandDewanAmalIslamHadhari.HeisalsoaCertifedShariahIndividualbytheSecuritiesCommissionoMalaysia.Hehaswrittenmorethan200papersonvarioustopicsrelatedtoIslam,Economics,BankingandTakaul

andhaswrittenandeditedatotalo12books.

PrOFessOr dr. syed abduL HaMid aLJunid

Proessor o Applied Finance Head o Economics & Governance Departmen t

TheormerPresident&ChieExecutiveOfceroUniversitiTunAbdulRazak,Malaysia,ProessorDr.SyedAbdulHamidAlJunidnowheadstheIslamicFinancialMarketsDepartmentoINCEIF.AholderoaPh.D.romUniversityoWisconsin(Madison),USAandMastersoArtsromStateUniversityoNewYork,USA,Dr.AlJunidisalsoaellowmembertotheMalaysianInstituteoCharteredSecretariesandAdministrators(MAICSA).

Hisareas ointerestinclude ethicsandgovernance,philosophyosocialscienceandeconomics,theory oknowledgeaswellasvalueandvalue-basedleadership.Inwhateversparetimehehas,hedabblesinwritingandpresentingaswellaseditingintellectuallyonrelatedissues.Hiswritingsandpresentationsincludeethicsandcorporategovernance,roleoreligionandspiritualcapitalinbusinessandeconomicdevelopmentaswellasvalueandvaluetransormation.

PrOFessOr dr. saiFuL aZHar rOsLy

Proessor o Islamic Economics & Banking Head o Islamic Banking Department

Pro.Dr.SaiulAzharRoslyiscurrentlyonattachmentatINCEIFastheHeadoINCEIFsIslamicFinancialMarketaculty.HeisalsoProessoroEconomicsattheInternationalIslamicUniversityMalaysia.PriortojoiningINCEIF,hehasservedtheMalaysianInstituteoEconomicResearchasDirectoroResearch.HisareaospecialisationisIslamicfnancialmarkets,whichincludeIslamicbanking,takaul,unittrusts,capitalmarketandfnancialplanning.Inadditiontothis,heisalsocurrentlyanindependentdirectororEONCapitalIslamicBankandtheFederationoMalaysianUnitTrustManagement(FMUTM).

assOC. PrOF. dr. MaHMOOd bin MOHaMed sanusi

Proessor o Law and Islamic Law

Pro.Dr.MahmoodMohamedSanusiwasattachedtotheInternationalIslamicUniversityMalaysiasince1984,

priortohiscurrentpositionatINCEIF.HehaslecturedonIslamicBankingandFinance,TransactionsinIslamicLaw,IslamicFamilyLaw,IslamicConstitutionLaw,IslamicCriminalLaw,IslamicJurisprudence.Hehaspublishedhisworksinsuchreputableacademicjournalsas:InternationalJournaloFinancialServices,ArabLawQuarterly,JournaloMoneyLaunderingControl(CambridgeUniversity),IIUMLawJournal,JournaloRegionalIslamicCounciloSoutheastAsiaandthePacifc,andalsoachapterinInnovation,Regulation,andLegalPerspectiveanIslamicFinanceBookbyEdwardElgarPublication.HehasalsopresentedpapersonIslamicBankingandFinanceatseminarsandconerences,andhasalsoconductedcoursesonIslamicBankingandFinanceinMalaysia,SingaporeandBruneiandSouthArica.

dr. MOHd-PisaL ZainaL

Lecturer, Islamic Banking Department

WhilepursuinghisPh.D.inEconomicsattheSouthernIllinoisUniversityCarbondale,USA,Dr.Mohd-PisalZainalwasaull-timeresearcherwithProject12-WaysSIUCatthesameuniversity.Project12-WaysSIUCispartotheBehaviourAnalysisandTherapyProgramotheRehabilitationInstituteotheuniversity.

Histeachingexperience included servingas anadjunctlecturer,International InstituteoPublicPolicyandManagement,UniversityoMalaya,MalaysiaandGraduateTutoratDepartmentoHealthCareProessionals,SouthernIllinoisUniversityCarbondale,USA.

Dr. Mohd-Pisal has participated and presented papers in proessional meetings and at internationalconerences whichinclude Midwest Economic AssociationAnnual Conerence in Chicago, USA; MissouriEconomic AssociationAnnualConerence inKansas City, USA and Hawaii International ConerenceonBusinessinHonolulu,Hawaii,USA.

2 November 2009, Monday


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ORGANISATION:

INDUSTRY: CONTACTPERSON:

ADDRESS:

E-MAIL:

TEL: FAX:

TOTALFEE:RM CHEQUENO.:

SIGNATURE&COMPANYSTAMP

1. FULLNAMEASPERI/C(Dato/Datin/Dr/Mr/Mrs/Ms):

DES IGNATION:

MEMBERSHIPNO.1: VEGETARIANMEAL qYES


DES IGNATION:



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PAYMENTBYCREDITCARD qVISA qMASTER(tick whichever applicable) CARDEXPIRYDATE:

CARD NO.: | | | | | / | | | | | / | | | | | / | | | | |

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DATE: SIGNATURE:

registration form

mia-inceif islamic finance Workshop

administratiVe detailsoNlINE rEgIstrAtIoN:www.mia.g.my

Yes!Pleaseenrolme/weortheollowingworkshop(s):

qShariahAspectsoBusinessandFinance,26August2009(Wednesday)

qIslamicBankingPractices,27August2009(Thursday)

qIslamicCapitalMarket,29September2009(Tuesday)

qIslamicWealthPlanning,15October2009(Thursday)

qIslamicEconomics,EthicsandGovernance,2November2009(Monday)

TRAININGVENUE

INCEIF.AnnexeBlock,MenaraTunRazakJalanRajaLaut,50350KualaLumpur

TIME

9.00amto5.00pm

CLOSINGDATE

Oneweekbeoretheprogramme.

CPEHOURS

YouwillbepresentedwithaCertifcateoAttendanceuponsuccessulcompletionotheprogramme.AsorMIAmembers,CPEhourswillbecreditedintotheMembershipSystemwithin2weeksotheprogrammedate.ToqualiyortheCPEcredithoursandCertifcateoAttendance,participantsarerequiredtoattendtheeventinull.

CANCELLATIONUpon registering, participant(s) are considered successullyenrolledintheevent.Shouldparticipant(s)decidetocanceltheirenrollment;acancellationeewillbelevied.Writtencancellationsreceived:

One (1) week beore the event, a reund ( le ss an administrativechargeo20%)willbemade.

For no-show on the day o the event, no reund wil l beentertained.

Youcansubstituteanalternateparticipant(s)iyouwishtoavoidcancellationcharges.Anydierenceineechargeswillbechargedaccordingly.

Cancelledunpaidregistrationswillalsobeliableorullpaymentotheregistrationee.

DISCLAIMERMalaysian Institute o Accountants(MIA ) reserves the righttochangetheacilitator,dateandtocanceltheprogrammeshouldcircumstancesbeyonditscontrolarises.MIAalsoreservestherighttomakealternativearrangementswithoutpriornoticeshoulditbenecessarytodoso.Uponsigningtheregistrationorm,youaredeemedtohavereadandacceptedthetermsandconditions.

REGISTRATION/ENQUIRY

CALL : RozlineTEL : 03.22799361FAX : 03.22735167EMAIL : [email protected] : MalaysianInstituteoAccountants DewanAkauntan No.2,JalanTunSambanthan3 Brickfel ds,50470KualaLumpur

COURSEFEE

MIAMember |RM950

MIAMemberFirmsSta/SponsoredSta1 |RM1,100

Non-MIAmember |RM1,250

*Registeroratleast3modulesandenjoyRM50discountoreachmoduleregisteredor!

FeeismadepayabletoMia-MPdC.

Feeincludescoursematerials,twoteabreaksandlunchperday.

Admittancewillonlybepermitteduponreceiptoullpayment.Registration madeby axmust be ollowedimmediately bypayment.

1Sponsoringmemberisrequiredtoindicatehisname,designationandmembershipnumberintheregistrationorm.Thesponsoredstamustreportdirectlytohiminhisfrmorcompany,butorthelatter,notinasubsidiaryorrelatedcompany.Intheabsenceo

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malaysian institute of accountants

dewan akauntan

2, Jalan tun sambanthan 350470 kuala lumpur

tel 03.2279 9200

fax 03.2273 5167

web www.mia.g.my

eduwo091015-islamic finance workshop

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