PROGRAMMES - Post IMP 2008

Background of Islamic Markets Programme (IMP)

The Islamic Markets Programme (IMP) was first organised in 2006 by SIDC with the objectives of introducing participants to the theories, main principles and the most up-to-date philosophies in the fast growing world of Islamic finance.

This five-day SIDC flagship program is designed to cater to a wide audience of both experienced practitioners and new entrants into the world of Islamic finance. It is directed towards individuals involved in any aspects of Islamic finane and would be most useful in preparing professionals dealing with Islamic products and institutions.

Recognising SIDC’s training experience and capabilities, the Malaysian Technical Co-operation Programme (MTCP), beginning 2007 is offering the IMP to its member countries. The MTCP provides the finance for organizing the programme and also for sponsoring the participants selected by their respective governments and agencies.

Themed “Product innovation: Integrating Shariah and Market Needs”, SIDC provides an ongoing platform for discussion and exchange of ideas on Islamic capital markets.

For the first time, IMP 2008 introduced the CEOs Forum, where challenges and approaches towards standardisation of Shariah ruling for sukuk were discussed.

Excerpts of the welcoming remarks by John Zinkin, CEO of SIDC at the IMP

“The rise and acceptance of Islamic finance in the last 30 years is one of the most significant innovations the financial industry has witnessed. Much has been accomplished by addressing the financial needs of customers within the framework of underlying tenets of Islam”.

The Malaysian Islamic capital market now has a full complement of products, infrastructure, institutions, intermediaries and investors which contribute to the development and deepening of the entire capital markets. However, development of an ICM talent pool “is indispensable for sustaining the performance, competitiveness and future growth of this sector. As a result, raising the standards of our intellectual capital is a key priority on any agenda to meet this challenge”.

View the full speech

Programme highlights

The Evolution and Growth of Islamic Finance

Recent history and the current market- products, institutions, intermediaries, users, regulators and standard setting bodies
Badlishah Bashah, Securities Commission

Differences and Similarities between Islamic and Conventional Finance

Dr Md Nurdin Ngadimon, Securities Commission

Understanding and Examining the Requirements of Islamic Laws
(Shariah Principles) Governing Islamic Finance

Sources of law, underlying contracts for sale, leasing, partnership, Wakalah, etc.
Dr Md Nurdin Ngadimon, Securities Commission

Characteristics and Features of Islamic Capital Market Product for Financing and Investment

Sukuk, stocks, funds (public, investment linked and private equity), REITs, ETF structured product
Wan Abdul Rahim Kamil, Securities Commission

Examples of Islamic Financial Products

Islamic banking, Takaful, Sukuk, Islamic funds and understanding the different contracts used
Wan Abdul Rahim Kamil, Securities Commission

Examining the Roles and Functions of the Capital Market and its Regulators

Azman Ahmad,Securities Commission

Corporate Governance, Disclosure and Transparency

Anil Joshi Hari Chand, Securities Commission

Regulatory Consideration in Issuing Sukuk

Kamarudin Hashim, Securities Commission

Examining Islamic Accounting and Taxation Issues

Mohammad Faiz Azmi, Pricewaterhouse Coopers

Sukuk and Legal Structure

Legal and beneficial ownership, sale and transfer, purchase undertaking, legal and regulatory documentation requirements
Mohamed Ridza Abdullah, Mohamed Ridza & Co

Role of Shariah Boards and Application of Shariah Rulings

Regulators’ institutions and standards setting bodies i.e. SC, BNM, CBB, AAOIFI,IFSB, IIFM & rating agencies
Dr Mohd Daud Bakar,International Institute of Islamic Finance (IIIF) Inc.

Examining the Difference between Asset-Based Sukuk and Asset-Backed Sukuk

Issues to consider
Rafe Haneef, Fajr Capital Plc

Participating companies

Ministry of Economy and Finance/Republic of Djibouti
Ministry of Investment Promotion/Comoros
Ministry of Religious Affairs and Moral Upliftment/Sri Lanka
Croatian Chamber of Economy/Croatia
Securities and Exchange Commission Bangladesh/Bangladesh
Capital Market Development Authority/Maldives
Central Banking Authority of Kosovo/Kosovo
Securities and Exchange Organsisation of Iran/Iran
Central Bank of Jordan/Jordan
Jordan Securities Commission/Jordan
Ministry of Economy and Finance/Cambodia
Financial Supervision Agency of Kazakhstan/Kazakhstan
Ministry of Finance/Uzbekistan
PM Securities Sdn Bhd
Inter-Pacific Securities Sdn Bhd
OSK Investment Bank Berhad
Public Investment Bank Berhad
JF Apex Securities Bhd
BIMB Securities Sdn Bhd
TA Securities Holdings Berhad
Aseambankers Malaysia Berhad
Valuecap Sdn Bhd

Hwang DBS Investment Management Bhd
Securities & Exchange Organization of Iran
Boustead REIT Managers Sdn Bhd
ZI Shariah Advisory Services
LOFSA
Public Mutual
Lembaga Tabung Angkatan Tentera
DRB-Hicom Berhad
Prudential Fund Management
Universal Trustee (M) Bhd
KL Airport Services Sdn Bhd
Labuan IBFC
RHB Banking Group
Permodalan Nasional Berhad
Securities Commission
Cagamas Berhad
International Islamic University
CMS I-Systems Berhad
Lembaga Hasil Dalam Negeri
CIMB Islamic Bank Bhd
Perbadanan Nasional Berhad
BTA Bank Kazakhstan

Participants testimonials

The course is very good for learning and sharing experiences. The presenters are also the best. It is very useful for all participants, even the non-Muslims.

Sambo Pheakdey, Official at the Ministry of Economy and Finance of Cambodia

This programme is mostly directed to high-level specialists in Islamic finance, but for beginners it causes a great desire to get acknowledged closely with Islamic markets, to discover new advantages & prospects of Islamic finance.

Bibinur Baidussenova, Chief Legal Adviser

The programme enlightens the participants on the present & future checkpoints for the development of Islamic banking world and consequently how the participants can contribute towards future development of this industry.

Mohd Shukrie Mohd Salleh, Chief Financial Officer, KL Airport Services Sdn Bhd