ICM Series: The Sukuk Market

Past Programmes

13
Nov 2019

8:30 am - 5:00 pm

Securities Commission Malaysia

10 CPE

MYR 750 *Fee is not inclusive of 6% SST

ICM Series: The Sukuk Market

 

The Islamic capital market grew 11.9% to RM1.9 trillion in 2017. This segment accounted for close to 60% of the overall capital market. The Islamic capital market maintained its leading position globally with 38% of global sukuk issuances.

Programme Objective

This programme will enable participants to discover sukuk as an alternative means of financing and investment. This module will cover the regulatory framework, structures, features, concepts and issues pertaining to sukuk issuances. The latest in the development of sukuk will also be discussed including new financing objectives in terms of socially responsible investing (SRI) and green sukuk.

Learning Outcomes

By the end of this programme, participants will be able to:

  1. describe the distinctive characteristics of Sukuk;
  2. explain the Shariah and regulatory framework applicable to Sukuk market;
  3. examine the various types and structures of Sukuk and their underlying contracts;
  4. analyse the different Sukuk structures; and
  5. review issues and challenges in issuance and structuring of Sukuk.

Topics Covered

  1. Overview of Islamic Securities (Sukuk)
  2. Types of Sukuk and its Salient Features
  3. Modes of Issuing Sukuk
  4. Capital Guarantee
  5. Analysing Sukuk Structures
  6. Sukuk Rating: General Approach, Criteria & Methodology
  7. Other General Rating Approaches

Competencies

Behavioural (Organisation Leadership) – Strategic Thinking, Business Acumen
Functional (Process Skills) – Sales and Marketing
Foundational (Product knowledge) – Capital Market Products

Target Audience

Individual 

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.

Day 1

8.30 am Registration
9.00 am Overview of Islamic Securities (Sukuk)

  • Evolution and Sukuk as a component of the Malaysian financial system
  • Features and characteristics of Sukuk vis a vis bond
  • The Shariah and regulatory framework for Sukuk and related legal documentations

Speaker: Zairulnizad Shahrim, Director of Islamic Markets, AmInvestment Bank Berhad

10.30 am Refreshments
11.00 am Modes of Issuing Sukuk

  • Debt based vs partnership based
  • Asset based and asset backed
  • Musharakah Sukuk: structure, specific legal issues and examples
  • Mudarabah Sukuk: structure, specific legal issues and examples
  • Investment Sukuk
  • Wakalah based Sukuk
  • Tradability

Speaker: Zairulnizad Shahrim, Director of Islamic Markets, AmInvestment Bank Berhad

12.30pm Lunch
2.00 pm Modes of Issuing Sukuk (continued)

  • Other Sukuk: Wakalah, Salam & other exotic Sukuk
  • What are MTNs?
  • Advantages
  • Examples
    • CCP (Corporate Commercial Papers)
  • Advantages
  • Examples

Speaker: Zairulnizad Shahrim, Director of Islamic Markets, AmInvestment Bank Berhad

3.30 pm Refreshments
3.45 pm
  • Pricing and distribution
  • Understanding Principal Terms and Conditions (PTC)
  • Preparing submission to SC

Speaker: Zairulnizad Shahrim, Director of Islamic Markets, AmInvestment Bank Berhad

5.00 pm End of Session

Day 2

8.30 am Registration
9.00 am Overview of Islamic Securities (Sukuk)

  • Evolution and Sukuk as a component of the Malaysian financial system
  • Features and characteristics of Sukuk vis a vis bond
  • The Shariah and regulatory framework for Sukuk and related legal documentations

Speaker: Zairulnizad Shahrim, Director of Islamic Markets, AmInvestment Bank Berhad

10.30 am Refreshments
11.00 am Modes of Issuing Sukuk

  • Debt based vs partnership based
  • Asset based and asset backed
  • Musharakah Sukuk: structure, specific legal issues and examples
  • Mudarabah Sukuk: structure, specific legal issues and examples
  • Investment Sukuk
  • Wakalah based Sukuk
  • Tradability

Speaker: Zairulnizad Shahrim, Director of Islamic Markets, AmInvestment Bank Berhad

12.30pm Lunch
2.00 pm Modes of Issuing Sukuk (continued)

  • Other Sukuk: Wakalah, Salam & other exotic Sukuk
  • What are MTNs?
  • Advantages
  • Examples
    • CCP (Corporate Commercial Papers)
  • Advantages
  • Examples

Speaker: Zairulnizad Shahrim, Director of Islamic Markets, AmInvestment Bank Berhad

3.30 pm Refreshments
3.45 pm
  • Pricing and distribution
  • Understanding Principal Terms and Conditions (PTC)
  • Preparing submission to SC

Speaker: Zairulnizad Shahrim, Director of Islamic Markets, AmInvestment Bank Berhad

5.00 pm End of Session

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