Sukuk & Islamic Capital Markets

This course is designed to provide participant with an in-depth understanding of the Islamiccapital market, its structure and growth. It will discuss the various structures of Islamic Sukuk, looking at their market rating and the legal and Shari’ah issues involved. It will also address issues involved in converting conventional bonds into Islamic securities and the raising Islamic investment funds and their structures. The course is designed to show participants how the Islamic market is continuing to develop and opening up new structures.

Learning Outcomes:

• Provide an in-depth understanding of the Islamic capital market, its structure and growth.
• Understand Islamic securities, their nature and why and how they are introduced.
• Know who issues Islamic bonds and the market demand for them.
• Discuss the various structures of Islamic Sukuk, their market rating and the legal and Shari’ah issues involved with them.
• Understand issues involved in converting conventional bonds into Islamic securities.

The course is suitable for:

• Islamic Bankers and Asset Managers
• Islamic Risk Management personnel
• Compliance and Audit Professionals
• Conventional bankers and financiers providing Islamic financial services
• Regulators, market supervisors and government representatives
• Managers and line-staff from operations, treasury and liquidity management departments in Islamic banks & financial services.

Day 1:

• Session 1: Overview of Islamic Capital Markets
• Session 2: Structures of Islamic Finance
• Session 3: Classical Finance Contracts in Shari’ah
• Session 4: Case Studies

Day 2:

• Session 1: Financing Elements in Sharing Finance Contracts
• Session 2: Structured Hybrid Islamic Financing Products
• Session 3: Basic Shari’ah and Legal issues and documents involved
• Session 4: Who issues Islamic securities
• Session 5: Current Trends in Sukuk (Islamic Bonds)
• Session 6: Case studies: Temporary Mudarabah Bonds

Day 3:

• Session 1: Sukuk Structures
• Session 2: Financial assets versus Real assets
• Session 3: Are Islamic Sukuk only a veil
• Session 4: Key issues related to Sukuk
• Session 5: Current and Future development in Islamic financial product
• Session 6: Swaps of conventional issues into Sukuk
• Session 7: Case studies

Day 4:

• Session 1: Islamic Invesment Funds
• Session 2: Stocks Hedging
• Session 3: Currency Hedging
• Session 4: Types of Sukuks
• Session 5: Fixed Income
• Session 6: Variable Income
• Session 7: Learning Goal
• Session 8: Participants should be able to:
• Session 9: Understand of the dynamics of Islamic finance.
• Session 10: Understand Islamic securities, their nature and why and how they are introduced.
• Session 11: Engage very well with the core regulatory issues.
• Session 12: Know, who issues Islamic bonds and the market demand for them.