Islamic Capital Market

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ICM Series: regulatory requirements and legal documentation in iCM

Dates:  8 - 9 September  2018 (8.30am - 5.00pm) 
Venue: Securities Commission Malaysia
Accreditation: SIDC CPE-approved: 10 CPE points


The main body that determines the eligibility of any stock, index and/or any investable product as Shariah-compliant is the Shariah Advisory Council (SAC) of the Securities Commission Malaysia (SC). The SC has established the SAC under Section 316A of the Capital Markets Services Act 2007 (it was previously established under the Securities Commission Act 1993), to maintain and enhance regulations of the Islamic capital market.

  • Programme Delivery

    Programme Objective

    This programme is designed to examine the legal and regulatory framework of ICM, structures and functions of the regulatory authorities, requirements for the operations and documentation of ICM products.

    Topics Covered

    • Overview of Legal Framework for Islamic Finance in Malaysia
    • Legal and Regulatory Framework  for Islamic Capital Market
    • Legislation on Islamic Finance and Capital Market
    • Guidelines on Islamic Capital Market
    • Legal Documentation – General Considerations
    • Documentation
    • Dispute Resolution – Framework and Issues
    • Court Cases & Discussion

    Learning Outcomes

    By the end of this programme, participants will be able to:
    • describe the legal and regulatory framework governing the Islamic capital market;
    • explain the guidelines applicable to the Islamic capital market products and instruments;
    • recognize the legal documentation peculiar to Sukuk; and
    • identify the dispute resolution issues and its framework.

    Target Audience

    Individuals
    Experienced and new professionals or industry practitioners in the capital market, ICM and academia.
     
    Institutions
    Asset management companies, advisory firms, legal firms, accounting firms,  stockbroking firms, investment banks, insurance companies, public listed companies and SMEs.

    Competencies

    Foundational (Regulatory Knowledge) - Islamic Capital Market Regulations
  • Programme Outline

    8.30 am Registration
    9.00 am Overview Of Legal Framework  For Islamic Finance In Malaysia
    • Introduction of Malaysia’s Capital Market Master Plan
    • Malaysia International Islamic Financial Centre (MIFC)
     
    Legal and Regulatory Framework  For Islamic Capital Market
    • Definition of regulatory framework
    • Regulatory framework and investor protection
    • Regulatory structure of Islamic capital market in Malaysia
    • Regulatory authorities in Islamic capital market
    • Institutional framework of Islamic capital market in Malaysia
    • Public & private regulatory institutions
    10.30 am Refreshments
    11.00 am Legislation on Islamic Finance and Capital Market
    • Capital Market Services Act 2007
    • Securities Commission Act 1993
    • Islamic Financial Services Act (IFSA) 2013
    • Financial Services Act (FSA) 2013
    • Securities (Central Depositories) Act 1991
    • Labuan Islamic Financial Services and Securities Act 2010
    • Development Financial Institution Act 2002
     
    Guidelines on Islamic Capital Market
    • Guidelines on Islamic Fund Management
    • Guidelines for Islamic Real Estate Investment Trusts (iREITs)
    • Guidelines on the Offering of Islamic Securities
    • Guidelines on Unit Trust Funds
    • Guidelines on the Offering of Structured Products
    • Guidelines on the Offering of Asset Backed Securities
    12.30 pm Lunch
    2.00 pm Legal Documentation – General Considerations
    • Shariah Principles
    • Tax Incentives
     
    Legal Documentation for Sukuk
    • The importance of contract documentation
    • General features of Sukuk documentations
    • Issuance and Shariah transaction documentation
    • Challenges in legal documentation of Sukuk
    • The main concerns in Sukuk documentation
    • Shariah and legal compliance
    3.30 pm Refreshments
    3.45 pm Documentation perculiar to:
    • Sukuk Ijarah
    • Sukuk Mudharabah
    • Sukuk Murabahah
    • Sukuk Istisna'
    • Sukuk Wakalah
    • Others
     
    Dispute Resolution – Framework And Issues
    • The Legal Framework
    • Litigation
    • English Courts
    • Arbitration
     
    Court Cases & Discussion
    • Investment Dar Company K.S.C.C. v Blom Development Bank S.A.L. (2009)
    • Lim Kok Ho vs Bank Islam (2010)
    • Tan Sri Khalid Ibrahim vs Bank Islam (2012)
    5.00 pm End of Programme
  • Programme Fees

    Items Standard Early Bird
    Islamic Capital Market Combo - 6 Programmes RM3,900/Pax (RM650) RM3,300/Pax (RM550)
    Custom Combo -3 or more Programmes 
    (Any programmes under ICM Series)
    RM700/Programme RM600/Programme
    1 Programme RM750/Programme
    RM650/Programme